Cost of Living in Cyprus

An enviable island lifestyle combined with a low cost of living makes Cyprus an appealing destination for expats, particularly for retirees looking to make their pensions stretch.

Overall, the cost of living in Cyprus is comparable to that of European countries such as Bulgaria. Limassol is the most expensive city on the island, ranking 163rd out of 226 cities worldwide assessed for the 2024 Mercer Cost of Living Survey. That said, it is still more affordable than many other European cities.

Cost of accommodation in Cyprus

The low cost of rent in Cyprus is one of the main benefits of life on the island. There's a wide range of types of accommodation, leaving you with plenty of choices regarding the size, style, and budget bracket of your ideal Cyprus home. Accommodation options and prices range from affordable apartments to mid-range traditional houses and sumptuous villas, catering to the full range of expat budgets.

Expats must also budget for utility costs like electricity, water, refuse removal, and WiFi, which are typically charged in addition to the rental fee.

Cost of transport in Cyprus

With no rail network in Cyprus, buses are the primary option for public transport. Though relatively inexpensive, the availability and reliability of buses vary by region. Some areas may have more frequent services and better connections, while others could be limited. Due to these inconsistencies, you might find purchasing a car a more convenient and flexible option, allowing you to navigate the island at your own pace.

Cost of groceries in Cyprus

Groceries in Cyprus are typically cheaper than in the UK, especially fruit and meat. Restaurants are generally more affordable as well, but you will find the most significant savings from local markets and shops. If you opt for smaller local establishments when dining out, you can save quite significantly and sample some fine cuisines on offer in Cyprus, a cosmopolitan blend of Greek, European, and Middle Eastern cooking.

Cost of entertainment and eating out in Cyprus

Cyprus offers diverse entertainment options, catering to various interests and budgets. The island boasts a thriving social scene, with numerous bars, clubs, and restaurants providing enjoyable nightlife. While prices may be higher at more popular and touristy establishments, plenty of budget-friendly options are available if you're looking to save on entertainment costs. There are frequent cultural events such as concerts, theatre performances and local festivals held throughout the year, often at affordable prices or even for free.

Outdoor activities are abundant in Cyprus, with its picturesque beaches, beautiful hiking trails and historic sites. You can enjoy these activities without breaking the bank, making the most of the island's natural beauty and rich history.

When dining out in Cyprus, you'll find many options for all tastes and budgets. Fast food outlets like McDonald's and Burger King offer quick and affordable meals, and casual dining in local eateries provides a taste of Cypriot and international cuisines at moderate prices. For a more refined experience, mid-range restaurants offer enhanced dining experiences incorporating fresh local ingredients and traditional cooking techniques. If you're looking to indulge in luxury, high-end restaurants offer gourmet dishes and exquisite settings.

Cost of education in Cyprus

Public schools in Cyprus are free of charge, with Greek being the primary language of instruction. If you're going the public school route, you should carefully research the quality of individual schools before enrolling your children. Factors to consider include the school's curriculum, teaching methods, facilities and overall reputation.

If you prefer an English-medium education for your children, you will likely opt for private or international schools, which charge tuition fees. These fees vary considerably depending on the child's age, the school and the educational programme. Budgeting accordingly and considering these costs when planning a move to Cyprus is essential.

Expat relocation packages sometimes include provisions for children's education, so it's advisable to negotiate these benefits with an employer if they're not already included.

Cost of healthcare in Cyprus

Healthcare in Cyprus consists of both public and private sectors, with both systems providing a relatively high standard of care. Permanent residents can access free or subsidised healthcare in Cyprus's public facilities. Waiting times for non-emergency procedures or specialist appointments in the public sector can sometimes be lengthy, which might prompt some expats to opt for private healthcare.

If you're looking for more flexible options and extra coverage, you should consider private health insurance. Several international providers offer policies specifically designed for expats living in Cyprus. It is crucial to compare plans, taking note of the coverage, premiums and potential exclusions before deciding on the most suitable option for individual needs and budget constraints.