The Cost of Living in Cyprus

What is the cost of living in Cyprus? What are the living conditions like in Cyprus? Learn more about the cost of living in Cyprus and how you can live a life of luxury at a more affordable price than any other European or Mediterranean country.

 

Out of all the countries in the Mediterranean and Europe, living in Cyprus offers the best value for money. You can live the life of your dreams with plenty of alternative high-quality products and services without emptying your wallet. North Cyprus is at the top of the list of countries where seasonal produce is sold at a bargain price, which means you can reap the benefits of fresh fruits and vegetables when they are at their best. Step into the bountiful fields of North Cyprus and experience what it’s like to pick luscious lemons from trees or create wonders in the kitchen with the first harvest of the season without breaking the bank (or your back).

The Cost of Living in Cyprus

In North Cyprus, someone earning minimum wage, which is around 3,300 Turkish Lira, can lead a relatively good life. Now, just imagine the benefits of the low cost of living and the effortless lifestyle and level of quality someone earning an average wage could have. In Cyprus, dining out, going out for drinks, entertainment, and holiday opportunities come at affordable prices without compromising on the quality of service. This is why even someone earning minimum wage can easily afford a holiday or attend cultural or artistic events.

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For example, let’s assume that two people are living together and earning minimum wage, meaning the total income for that household is 6,600 Turkish Lira. With this income, they can easily buy a car in no time. Don’t forget that local banks offer mortgage support, which is why instead of paying rent, for the same price, you could pay your mortgage and, soon, be the proud owner of your very own home.

Property Prices in Cyprus

North Cyprus is no different than anywhere else in the world in that property prices vary from city to city. Kyrenia, the tourism capital, is a little pricier than other cities, but overall, the difference in price is still quite insignificant.

Property prices in North Cyprus are about 40-60% lower than other countries in the Mediterranean. It is very easy to buy or rent property in Cyprus no matter what your budget. If you want to find out more on this, please check out our Guide to Properties in Cyprus.

For example, while it is possible to own a luxury villa for 70,000 GBP in Cyprus, the price for a property with similar amenities and qualities are double the price in other European and Mediterranean countries. The same goes for rental prices as well. Rental flats in Cyprus start at £200 per month. To find out more about property prices and rental flats in different cities in Cyprus, check out our page: Rental Prices in Cyprus

Without a doubt, the cost of living in North Cyprus is a crucial factor for those contemplating moving and starting a new life here. When we compare the standard of living and the cost of living in North Cyprus to other European and Mediterranean countries, it is easy to see that when you choose Cyprus, you’re choosing a lifestyle of the highest standards for the lowest possible cost. For those thinking of living in Cyprus, it truly does offer the best living conditions.

 

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