Downshifters, real estate buyers, and retirees are all interested in the cost of living in Cyprus and how other people live here. We shall not discuss the legal implications of foreigners (non-EU nationals) staying in Cyprus in this post. We’ll talk about the cost and the key advantages and disadvantages of living here.
The most important requirement is that you have a steady stream of revenue from overseas – remote job, rented housing, dividends, and any other lawful sources of currency into your account. If everything looks well, you can begin planning your move.
Which city should you live in?
Limassol is without a doubt the most visited city in Cyprus. The sea, well-developed infrastructure, stores, restaurants, and sports clubs – everything you need for a comfortable existence may be found here. You can also retire to the villages, which are about 15-20 kilometers from Limassol, and enjoy all of life’s pleasures.
Limassol has the greatest Russian-speaking population. The Russian community is estimated to number between 20 000 and 30 000 persons, according to various reports. Russian kindergartens, schools, the media, and restaurants can all be found. This, however, is one of the “disadvantages” for certain people.
Paphos, Larnaca, Ayia Napa, and Protaras are also popular with expats. Nicosia and the surrounding mountainous hills are not well-known.
Due to the overheated market in Cyprus, the cost of renting real estate has climbed by roughly 30-40% in the last few years. Paphos has the most affordable prices. For 400-500 EUR per month, you can rent a studio or one-bedroom apartment. Monthly rent for a detached house is around 600-700 EUR. However, a studio or 1-bedroom apartment in Limassol will cost around 700-800 EUR per month or more. Apartments with 2-3 bedrooms start at 1200 EUR per month. The maximum price is unrestricted. However, advertising for 10000 EUR per month can also be found. In other cities, you can find cheaper real estate, but not by much.
Life on the island
In general, all of Cyprus’ cities are very pleasant to live in. In the new communities, the infrastructure is well-planned, and the streets are clean and safe (except immigrant ghettos).
On the island, there isn’t a lot of crime, such as small robberies, nocturnal explosions, and automobile arsons. We also have a feud between representatives of criminal organizations who blow up cars, fire houses, and shoot at each other on a regular basis. However, it is a rare occurrence that does not affect other people. In general, all cities want more trees and parks, but doing so in such a climate is difficult.
In Cyprus, the primary issue is traffic. The number of automobiles is about equal to the number of adults. The city of Limassol is mostly considered due of the large number of expats. So much traffic puts a strain on the roads. And, on occasion, all streets become impassable, causing everyone to spend time stuck in long traffic jams.
Another drawback is road noise, as well as dust and humidity in residences, particularly near the water. Living in the countryside is less expensive, more peaceful, and more enjoyable, especially if you do not need to commute to the city every day for work, school, or other obligations.
Is living in Cyprus expensive? The cost of living in Cyprus in early 2020
It will be expensive if you eat in restaurants, buy luxury clothing from the most recent collections, smoke cigars, and drink collective cognac.
Utility bills, medical insurance, gym membership, and food – roughly 600-800 EUR per person per month (without the rental charge!). Additional costs – automobiles, gasoline, auto insurance, maintenance, and so on. Approximately 100-150 EUR every month, if not more. The fuel consumption of a Toyota Yaris, for example, differs from that of a Porsche. Average pricing for a family automobile are available.
In Cyprus, public transportation is basically non-existent. As a result, personal automobiles are not a luxury. It is a requirement for daily life, especially if you have children.
The following was the price of gasoline in March 2020: 1.05 EUR per liter of 95th gasoline
For journeys throughout the city and to other places, you’ll require roughly 100-120 EUR every month, based on this price (sea, mountains, etc.)
If you have children and enjoy a full cultural life, frequent dining out, and can’t picture life without shopping, your costs will be higher. It has no boundaries. A family of two to three persons requires roughly 2000 to 3000 EUR per month to live comfortably in a rented flat.