Cyprus is pretty costly for livelihood. Nevertheless, the costs are more reasonable in contrast to the UK, USA, West and North Europe. But don’t forget that it mostly depends on the city. For instance, it is more lucrative to reside in Cyprus if your wish is a big city.
If you are curious about the cost of living in Cyprus in 2024 – this article will help you sort out all the nuances.
Real estate and utilities costs in Cyprus
Buying property in Cyprus is a complicated decision that requires the comprehension of all relevant aspects, costs in particular.
Prices on local housing are rising, but they are still lower than in some European states.
Property for sale in downtown is €2300-2500/m2, outside the center – about €1700.
Rich people frequently choose to acquire housing in Cyprus to insure permanent residence. The most popular choices are villas, flats and penthouses.
In case of renting, expect to pay €900-1000 for a 1 bedroom flat in the downtown, and €700-800 outside the center (and about €900-1000 for a 3 bedroom apartment).
Main utilities cost around €200/month, excluding Internet and cell phone charges.
Costs for products in Cyprus
In case you buy food in a standard hypermarket, the basic food basket will cost you €50.
If you want to have dinner away from house, it will cost you €15 in an inexpensive restaurant and €60 in a middle class one.
The meal in a fast food eatery costs approximately €5-7.
Fare in Cyprus
The single variant of common transport here is buses that bind each part of the island.
4 kinds of tickets you have to know about:
- One-way ticket costs €2, at night – €3.50;
- Paper smart cards are given for 4 trips. The cost – €6.5, €13 or €20;
- Refillable anonymous pass costs €20 and €60;
- Refillable individual pass will cost you €20, €40 and €400.
Students, pensioners and individuals who gain social welfare have reductions. Disabled people (+ escorts), militaries and kids who have not yet turned 6, are not obliged to have tickets.
Education costs in Cyprus
The study both in school and university is free for local students and for those who are EU inhabitants.
The typical fee for university (annually):
- €3000 (the authority pays it);
- €5000-6000 for non-European inhabitants.
Costs for private school based on the whereabouts and value, usually it is €9000-10000/year.
Medical schools are far more expensive – €25000/year.
Health insurance
Public healthcare is free for everyone. For the private one you have to pay.
Typical costs:
- Appointment with general practitioner – €40-50;
- Dental treatment – €100-200;
- Staying in hospital for 1 day – €200-250;
- Giving birth in hospital – €4000-5000.
By having health security, the treatment in private clinics may be covered. The price for one person is €200-900/year.
In private clinics you get a consultation with a doctor instantly, in public ones you have to wait or arrange an appointment beforehand.
Other expenses
An island provides a lot of entertainment for residents. The typical prices:
- Museums or tourist attractions are €10-12;
- Cinema and theater costs approximately €9;
- Fitness club – about €25-30/one person;
- Renting a boat – €100+/hour.
If you are a fan of a fun weekend, expect to pay approximately €200-300/month for two persons.
You should expect to pay as low as €10 and as high as €200 for clothes.
Conclusion
Eventually, the island may be considered as the perfect choice for living, grateful for its pleasant weather, safety and chance to get a citizenship.
It is also important to note Cyprus’s cities, such as Limassol (South), Nicosia (Property for sale in Northern Cyprus quite cheap) and Paphos (Southwest) which are the most popular choices amongst foreigners. And remember that cities of this island are more lucrative for residency than the same USA or UK.
