The cost of living in Cyprus

One of the most significant components of the cost of living in Cyprus is housing. The cost of property in Cyprus varies depending on the location and type of property. In major cities like Nicosia, Limassol, and Paphos, prices can be higher compared to rural areas.

• Renting: renting a one-bedroom apartment in the city center typically costs between €500 and €800 per month, while the same apartment outside the city center might range from €400 to €600. Larger apartments with three bedrooms can cost between €800 and €1,200 in the city center and around €600 to €900 outside the center (1, 2).
• Buying: the cost of property in Cyprus can be quite appealing, especially compared to the UK. In city centers, the price per square meter for an apartment can range from €1,500 to €2,500. In more suburban or rural areas, prices may drop to between €1,000 and €1,500 per square meter (3).

The cost of food in Cyprus is relatively affordable, with a good balance between local markets and larger supermarkets. Fresh produce is readily available and often cheaper than in the UK.

A typical monthly grocery bill for a single person can range from €150 to €250, depending on dietary preferences and shopping habits. For a family of four, this cost might rise to between €400 and €600 (4).

Dining out in Cyprus offers a range of options, from inexpensive tavernas to high-end restaurants. A meal at an inexpensive restaurant typically costs around €10–€15 per person, while a three-course meal for two at a mid-range restaurant can be around €40–€60 (5).

Utility costs in Cyprus are moderate. Basic utilities for an 85 square meter apartment, including electricity, heating, cooling, water, and garbage, typically cost between €100 and €150 per month (6). Internet services are also reasonably priced, with monthly costs for high-speed internet ranging from €25 to €45 (1).

Transport costs in Cyprus can vary depending on the mode of transportation.

Buses are the primary mode of public transportation, with a single fare usually costing around €1.50, and monthly passes available for approximately €40 (7).

Taxi costs in Cyprus can be higher, with a base fare of around €3.50 and an additional €0.73 per kilometer. A typical 5-kilometer trip might cost between €7 and €10 (8).

If you prefer driving, fuel costs are relatively low compared to many European countries, with petrol prices around €1.30 per liter (9). Car ownership also involves additional expenses like insurance, maintenance, and taxes.

Cyprus has both public and private healthcare systems. Public healthcare is free or low-cost for residents, while private healthcare is relatively affordable and of high quality.

Residents with a medical card can access public healthcare services at minimal cost. For those who prefer private healthcare, a standard doctor’s consultation typically costs between €40 and €60. Health insurance plans vary, but a comprehensive plan might cost around €300 to €600 annually (10).

Public schools are free for residents and offer education in Greek. Private international schools, where the medium of instruction is English, can cost between €5,000 and €10,000 per year, depending on the school and grade level (11).

Moving to Cyprus with your family can be a good idea to give your children the benefit of a quality English-language education.

If you are considering moving to Cyprus, you will be pleased to know that the cost of entertainment and leisure activities in Cyprus is quite reasonable.

• Cinema: a movie ticket costs around €8 (12)
• Fitness: monthly gym memberships range from €30 to €60 (1).
• Nightlife: the cost of beer in Cyprus is quite affordable, with a pint of domestic beer typically costing around €3 to €4, and imported beer around €4 to €5 (13).

When comparing the cost of living in Cyprus vs the UK, Cyprus generally offers a lower cost of living. Here are some key points of comparison:

• Real estate: property and rental prices in Cyprus are significantly lower than in the UK, especially compared to cities like London (2, 14).
• Groceries and food: the cost of food in Cyprus is generally lower, particularly for fresh produce and eating out (4, 5).
• Utilities and internet: utilities are comparable, though slightly cheaper in Cyprus. Internet costs are similar (6).
• Transportation: public transportation costs are lower in Cyprus, though taxi costs are higher. Fuel prices are also lower (7, 8, 9).
• Healthcare: private healthcare in Cyprus is more affordable than in the UK, and the public system is accessible and efficient (10).
• Education: private education in Cyprus can be costly, but it is still generally more affordable than in the UK (11).

For British expats, the cost of living in Cyprus vs the UK highlights significant savings, making it a viable and attractive option for those seeking a change in lifestyle.

If you’re considering buying property in Cyprus or simply need expert advice on the local real estate market, don’t hesitate to reach out to us. Our iad Overseas consultants specialize in international property purchases and are here to guide you through every step of the process. From finding your ideal home to navigating legal and financial procedures, we’ll help you make your move to Cyprus a smooth and successful experience.