Everyone who will move to Cyprus (downshifters, real estate buyers, retirees) are interested in the cost of living in Cyprus and how others live here. In this article, we will not analyze the legal aspects of the staying of foreigners (non-EU citizens) in Cyprus. We will discuss the cost and about the main pros and cons of living here.
The primary condition is a guarantee of uninterrupted stable income from abroad – remote work, rental housing, dividends, and any other legal sources of banknotes' inflow to your bank account. If this is all right, you can start planning your move.
So, let's discuss the main pros and cons.
- The high cost of living. The family (2-3 people) need about 2000 -3000 EUR per month for more or less comfortable living.
- Visa. Cyprus is a member of the EU, and despite the concessions for Russian citizens, there are some visa restrictions: Russians need to get a residence permit if they want to stay here more than 90 days during 6x months. Also, they require to sign a long-term lease agreement and have a stable income from abroad, etc.
- Climate. There are too hot in summer here. And in wintertime, it is quite cold and rainy. It is uncomfortable to stay inside without heating. If you wish to live like on the "Bounty Island" and wear shorts and flip flops all year round, Cyprus is not suitable. One of the main disadvantages is dust storms that periodically come from Africa and the Middle East. It can make life difficult for people with respiratory problems.
- Island. One of the other minuses is the "isolation" and a lack of high-quality communication and cultural life. Some impressive people also complain about the year-round abundance of insects – flying cockroaches, mosquitoes, spiders, small lizards in the houses and apartments, etc.
- Close to Russia, Europe, and the Middle East. There are two International airports on the island.
- High level of private medical centers and schools.
- Low crime rate
- Good ecology
- 330 sunny days per year
- Short distances between cities: the snowy mountainsides and the sunny coast are only 40 minutes away from each other
- High-quality food: olive oil, fresh fish, vegetables, fruits all year round
- The water temperature in the sea never drops below +17. And almost all villages have their winery. So, you can swim and taste wine all year round!
What do you think? Does this idea close to you?
What city to choose for a living?
Without a doubt, the most popular city in Cyprus is Limassol. The sea, developed infrastructure, shops, restaurants, sports clubs – in general, everything you need for a comfortable life. You can also settle down in the villages – about 15-20 km from Limassol and enjoy all the charms of life.
There is the largest Russian-speaking population in Limassol. According to some reports, the Russian community is about 20 000 – 30 000 people. You can find Russian kindergartens, schools, the media, restaurants. However, for some people, this is one of the “disadvantages.”
Then, further popular among ex-pats are Paphos, Larnaca, Ayia Napa, and Protaras. Nicosia and the mountainous areas are not popular.
The cost of renting real estate in Cyprus has increased by about 30-40% due to the overheated market for the last few years. The cheapest costs are in Paphos. You can find a studio or 1-bedroom apartment for 400-500 EUR / month. Detached house – about 600-700 EUR / month. But in Limassol, the price for a studio or 1-bedroom apartment will be about 700-800 EUR / month and more. 2-3- Bedroom apartments from 1200 EUR / month. The upper price is not limited. But you can find the advertisements for 10000 EUR/ month as well. You can find cheaper real estate objects in other cities, but not too much.
In general, all Cyprus cities are very comfortable for living. The infrastructure is very well thought out in the new areas, the streets are clean and safe (except immigrant ghettos).
There is not too much crime on the island – like small robberies and night explosions and arsons of each other’s cars. Also, we have a vendetta between representatives of criminal gangs who periodically blow up the cars, fire the houses, and shoot to each other. But it happens not very often and does not concern other people. In general, all cities need more trees, parks but its quite tricky to have in such a climate.
The main problem in Cyprus is traffic. The quantity of cars is almost equivalent to the number of adults. Mainly, this considers of Limassol city because of the massive number of expats. Roads can hardly cope with so much transport. And sometimes, all streets are stuck, and everyone spends some time in prolonged traffic jams.
Another disadvantage is noise from the roads and dust and humidity in homes, especially near the sea. Living in the countryside is cheaper, calmer, and more pleasant, especially if you should not go to the city every day to the office, to the school, etc.
Is it expensive to live in Cyprus? The cost of living in early 2020 in Cyprus
If you are going to eat in the restaurants, buy luxury clothes from the last collections, smoke cigars and drink collective cognac – it will be costly.
Utility bills, medical insurance, gym, food – about 600-800 EUR / month per person (the rental fee excluded!). Additional expenses – cars, petrol, car insurance, service, etc. About 100-150 EUR per month and more. For example, the fuel consumption of Toyota Yaris is not the same as for Porsche. There are average prices for an economical family car.
There is practically no public transport in Cyprus. So personal cars are not a luxury. It’s a necessary condition for everyday life, especially if you have children.
In March 2020, the price of petrol was the following: 1 liter of 95th gasoline – 1.05 EUR
According to this price, you need about 100-120 EUR per month for trips around the city and other places (sea, mountains, etc.)
If you have children and live a rich cultural life, often dine-in restaurants, and cannot imagine your life without shopping, your expenses will be more prominent. There is no limit to it. The family (2-3 people) needs about 2000 – 3000 EUR per month for living in the renting apartment for a comfortable life.
At numbeo.com, you can compare the cost of living in any city in Cyprus, relative to your place of residence. Of course, it’s not 100% accurate, but it will help you present the whole picture.
In general, of course, you cannot compare Cyprus with popular areas foe remote work, downshifting, or retirements, such as Dahab, Goa, Koh Samui in Thailand, Vietnam, Cambodia, and other paradise places with cheap fruit and hammock under a palm tree near the ocean.
Cyprus is like a paradise! The city has its pros and cons. And you need to choose the right place to live by yourself!