Cost of Living in Cyprus: A Guide for Expats

Cyprus has emerged as one of the most appealing countries in Europe for expatriates, thanks to its high quality of life at relatively moderate costs. Remarkably, statistics reveal that one in five residents in Cyprus is a foreigner, with citizens from Canada, Turkmenistan, the Philippines, and many other nations choosing to make this beautiful island their home. As a promising destination for both living and working, it's essential for potential movers to research local prices before making the leap. This article delves into the cost of living in Cyprus, providing valuable insights for those considering relocation.

Is Living in Cyprus Expensive?

When compared to Western and Northern European countries, as well as the United States, the cost of living in Cyprus is relatively lower. Overall, prices in Cyprus align more closely with those found in Eastern European nations such as Poland, Hungary, and Romania.

Limassol, recognized as the economic, cultural, and financial hub of Cyprus, is the country's most expensive city. However, on a global scale, it ranks 156th out of 209 in terms of the cost of living.

For individuals planning to live in Cyprus, the average monthly expense for a single person typically ranges from €1,800 to €2,000, which includes rent. For couples, a monthly budget of €1,900 to €2,150 is advisable. Families of four should expect to budget at least €4,500 each month, inclusive of rent.

In conclusion, while Cyprus offers an attractive lifestyle for expats, it is important to plan your budget carefully to ensure a comfortable and enjoyable experience on the island.