Cyprus is the Mediterranean’s third largest island and is located approximately 40 miles south of Turkey. The country is split into two due to political differences between the Turkish and Greek Cypriots. The north of the island is known as the Turkish Republic of Northern Cyprus and is only recognised by Turkey.
Cyprus has a history which goes back ten millennia, making it a drawcard for both professional and amateur historians and archaeologists. That, coupled with Cyprus’ stunning scenery, excellent weather and welcoming people, makes it an ideal destination for expats and tourists alike.
If you are considering moving to Cyprus, the various costs listed below will help you make an informed decision on what costs are involved when moving and living in this part of the world.
Quick Cyprus Facts:
- Population: 1,227,565 (October 2022 estimate).
- Official Language:Greek and Turkish are the official languages in Cyprus. Around 2.7% of the country’s population speak minority languages such as Arabic and Armenian but almost al,l except in the rural areas, speak fluent English.
- GDP Per Capita:US$29,462 (2022 estimate)
- Wine: Cyprus is home to the oldest wine label in the world. Commandaria wine can trace its origins back to at least 2000 BC
- Currency: Euro (€). As of early 2023, €1 is= £0.88, $0.98 (USD),$1.35 (CAD), and $1.55AUD.
1. Moving and Shipping Costs to Cyprus
Here are some sample container shipping rates to Cyprus. (Note all prices in USD)
2. Cyprus Housing Costs
Cyprus is extremely popular with European expats due to its climate, lifestyle, safety and low crime rate. There’s a wide variety of accommodation to choose from but note that property prices have risen considerably over the last decade. The country offers apartments, farms, houses and luxury villas.
Monthly Rental Prices in Cyprus
- 1 bedroom apartment in City Centre: €900.00 – €2,500.00
- 1 bedroom apartment outside the City Centre: €400.00 – €1,000.00
- 3-bedroom apartment in City Centre: €800.00 – €2,800.00
- 3-bedroom apartment outside the City Centre: €700.00 – €2,000.00
- Price per square metre to buy in City Centre: €1,200.00 – €3,500.00
- Price per square metre to buy outside the city: €900.00 – €2,500.00
Cyprus Housing Cost Comparison
Below are how rents in Cyprus compare with other countries around the globe.
United Kingdom is 23.50% more expensive
United States is 101.26% more expensive
Australia is 43.44% more expensive
Canada is 22.60% more expensive
France is 2.67% more expensive
Germany is 5% cheaper
Spain is 12.53% cheaper
Italy is 25.80% cheaper
How to Save on Housing Costs
- Share an apartment or house. Living with a roommate or flatmate is one if the best options to save money on housing. Try Erasmusu, Roommates in Cyprus, Housing-Justlanded, Roomster, and OK roommates.
- Different areas – different prices. If you’re a DIY enthusiast, you can pick up properties in rural areas and some of the smaller towns very cheaply. The most expensive towns to live in are Nicosia and Paphos. Properties on golf estates are also very expensive. Famagusta is a cheaper, sought-after town but prices are rising here due to demand. Limassol and Larnaca are also popular with expats but, again, prices are on the rise.
3. Cyprus Food, Grocery and Restaurant Costs
Cypriot food is strongly influenced by its Greek, Turkish and Italian history. Local produce features strongly in all dishes, and cooking tends to use seasonal produce rather than frozen or imported foods. You’ll find that both supermarkets and restaurants offer food that is in season at reasonable prices.
- Inexpensive Restaurant: €8.00 – €20.00
- Domestic beer: €2.00 – €5.00
- Coke/Pepsi: €1.00 – €3.00
- 1L of milk: €1.04 – €2.30
- Loaf of Bread: €0.80 – €2.70
- 12 Eggs: €1.56 – €3.60
- 1kg Chicken Fillets:€4.38 – €9.61
- 1kg Beef: €5.00 – €14.00
- 1kg Apples: €1.00 – €3.00
- 1kg White Rice: €1.00 – €3.00
Below is how food and restaurant prices compare with other major countries in the world.
- UK restaurants are 49% more expensive and groceries are 7.63% more expensive than in Cyprus.
- US restaurants are94% more expensive and groceries are 70.22% more expensive than in Cyprus.
- Australian restaurants are 43% more expensive and groceries are 61.09% more expensive than in Cyprus.
- Canadian restaurants are 4% more expensive and groceries are 44.30% more expensive than in Cyprus.
- French restaurants are 82% more expensive and groceries are 43.99% more expensive than in Cyprus.
- German restaurants are6% more expensive and groceries are 13.3% more expensive than in Cyprus.
- Spanish restaurants are 51% cheaper and groceries are 9.50% cheaper than in Cyprus.
- Italian restaurants are 7% more expensive and groceries are 15.5% more expensive than in Cyprus.
Bonus Tips for Cheaper Food, Restaurants and Groceries
- Know your supermarkets: Cyprus has a good variety of supermarkets, many of which now deliver to your home. There are also independent stores and markets. Metro Supermarkets have a lot of imported foods, especially from the UK. AlphaMega Hypermarkets are now in all major town in Cyprus and have a wide range of imported foods at reasonable prices. You’ll also find Lidl stores in most towns. SaveMore sell a good range of organic and health foods as well as the usual groceries.
- Find Cheap Eats:Eating out in popular holiday areas can be expensive, especially in the upmarket golf resorts. Ask long-term expats where they go to eat and have a look online or in local papers. The following sites offer suggestions on where to eat for less –Best Cheap Eats in Limassol, Wanderlog, SianVictoria, My Cyprus Travel, and Like a Local Guide.
4. Cyprus Alcohol Costs
Drinking in Cyprus is popular pastime with both expats and locals. There’s a good range of both local beer, wine and liqueurs and imported alcohol. Greek liqueurs and spirits feature highly in all bars and restaurants.
- Bottle of imported beer at a restaurant/pub: €2.50 – €5.00
- Pint (0.5L) domestic beer at a restaurant/pub: €2.50 – €5.00
- Pint (0.5L) domestic beer at a supermarket: €0.83 – €2.00
- Bottle of imported beer at a supermarket: €1.00 – €3.00
- Mid-range bottle of wine at a supermarket: €4.00 – €12.00
How to drink for less in Cyprus
- Keep an eye on the local papers and flyers for adverts. You can also ask locals where they would recommend going for a cheap night out.
- Many restaurants and bars have late afternoon and early evening happy hours, where you can get half price drinks or two for the price of one. Have a look at the following sites for inspiration – Two Tall Travellers, Icelolly, My Cyprus Insider and Limassol.
5. Cyprus Transportation Fares
Cyprus doesn’t have a railway, but it does have an excellent road system which can take you to any corner of the country by bus.
Below are some example ticket costs.
- One-way ticket (Local transport) – €1.50 – €2.00
- Monthly Pass (Regular price) – €40.00 – €45.00
- Taxi start (normal tariff) – €4.00 – €8.00
- Taxi 1km (normal tariff) – €0.90 – €3.00
How to save money on public transport
- Buy a travel card for cheaper fares.
- One-way paper tickets are a good option which are valid from 4 AM to 9 PM.
- Cycle or walk.
6. Cost of Internet in Cyprus
Internet in Cyprus is slow and expensive. Internet users pay an average of €91 for a speed of 30 Mbps to 100 Mbps.
7. Cost of Clothing, Personal Items, Gym and Leisure
Cyprus has a Mediterranean climate with hot, dry summers and cool to cold winters. The hottest month is August with an average temperature of 26C and the coldest month is January where temperatures can go as low as 5C, and even lower in the Troodos mountains where they often get snow. Cyprus’ annual rainfall is between 350 and 500mm with most of the rain falling between November and March.
Below are some clothing prices, along with other useful prices.
- Pair of Jeans (Levi’s 501 or similar) :€30.00 – €120.00
- Summer Dress: €20.00 – €60.00
- Running Shoes (Trainers): €50.00 – €120.00
- Business Shoes: €60.00 – €150.00
- Gym membership: €30.00 – €80.00
- Movie (cinema) ticket: €8.00 – €12.00
- Short doctor’s visit (15 minutes): €50
- Toilet rolls:€2.60
8. Cost of Owning a Car and Driving a Car in Cyprus
Buying new or used car is expensive in Cyprus. It’s generally cheaper to ship or drive your own car to the country. If you live in the EU, you can drive on your country’s licence until it expires, you will then need to apply for a Cypriot licence. If you come from a non-EU country you’ll need to exchange your licence after six months. Some countries have a reciprocal arrangement where you can keep on driving on your existing licence.
Below are some sample costs of owning and driving a car in Cyprus:
- Volkswagen Golf: €17,000.00 – €25,000.00
- 1 litre (¼ gallon) of gas (petrol):€1.30 – €1.85
- Other fees (if any): The average monthly cost of owning a car in Cyprus is €500. This includes tax, insurance, fuel, maintenance and depreciation.
Ways to save money driving in Cyprus
- Car sharing or pooling is one of the best options to save money in Cyprus. Try Carpool Cyprus, RideNow, ToGoRent, Car Share Cyprus, and Carsharing in Cyprus.
- Taxis are sometimes cheaper for shorter distances and you avoid parking fees.. Try CABCYand BOLT.
Need your car/vehicle moved to Cyprus? Then read our guide to Car Transport & Vehicle Shipping
9. Taxes in Cyprus
Cypriot tax residents pay between 20% and 35% tax on their local and worldwide income.
Property transfer tax is between 3% and 8% depending on the value of the property. VAT in Cyprus is 19%. Hospitality and restaurants only add 9% VAT to encourage tourism. Have a look at PWC’s in depth look at Cyprus’ tax system for further information.
10. Flight Costs from Cyprus
If you do make the move to Cyprus, here’s approximately how much it will cost to fly to other major world cities based on the lowest, one-way fares from Skyscanner as of early 2023:
- London: €43
- Paris: €51
- New York: €316
- Toronto: €425
- Berlin: €44
- Sydney: €650
- Madrid: €43
- Rome: €45
Other Cyprus Relocation Tips
The above costs and prices should give you a good idea of the cost of living in Cyprus. But perhaps the following extra tips will make your move go smoothly.
11. Relocating to Cyprus Alone
Moving to a different country is stressful but moving alone is exceptionally difficult. However, the atmosphere in Cyprus and the friendly people in the country will help you ease into your new life. Below are a few tips about settling in Cyprus.
- Meetup:Get in touch with people who enjoy the same pastimes and careers that you do through Meetup.
- Attend local events: There’s always something going on in Cyprus, from food festivals to international golf tournaments. Have a look at these websites to see what appeals to you – Kiprinform, Tour Scanner, iexplore, My Guide Cyprus, International Living, and Trip Advisor.
12. Moving to Cyprus with a Family
Moving abroad with your family poses different challenges. If you are moving to Cyprus with a family, then consider the following:
- New parents (or parents to be):It’s great to have contact with other new parents who can help you settle in more quickly. Have a look at these sites for inspiration – Cyprus Moms Club, Mother Baby and Play Groups, Russian Moms of Cyprus, Cyprus Moms in Prayer, and Expat Forum.
- Live in a family-friendly area:Most of Cyprus is family-friends. Towns and villages such as Nicosia, Limassol, Larnaka, Peyia, Tala, Protaras, and Ayia Napa in Paphos are some of the most sought after areas for families.
- Find things to do with the kids:Cyprus has many things for the kids to do from enjoying everything the sea has to offer to exploring ancient sites. Have a look at the following website for inspiration – Konnos Bay, Fun Places in Cyprus, Cyprus Bucket List, BabyBreaks, and Smudged Postcard.
13. Moving to Cyprus for Work
Moving to a new county for work is one of the most common reasons people choose to move. While it is possible to move without a job, it makes sense to ensure there are jobs in your field before you make the move.
Cyprus is looking for people to fill roles in medicine, education, IT, hospitality and tourism and finance.
Below are things to consider when moving for work:
- Salary:The costs we outlined above should give you a rough idea, how much more you’ll want to be making to make the move worthwhile. You can also check salary ranges on sites such as Glassdoor and Payscale.
- How to find work: If you want to have a job lined up before you move to Miami, but aren’t sure where to begin, the following sites are good places to start: Prospects, Cyprus Work, Visa Hunter, Jobs Cyprus, and LinkedIn. You may also want to Google recruiters in your industry, as they can often help land you some initial interviews as well.
14. Moving to Cyprus from Australia
There are a handful of Aussies living in Cyprus. If you are moving from Australia to Cyprus and want to meet fellow Australians, consider the following:
- Size comparison:Australia is 837 times bigger than Cyprus and has a population of 25,739,000 whereas the population of Cyprus is only 1,216,000.
- Join expat groups:Connect with fellow Australians through Meetup and InterNations.
15. Moving to Cyprus from Canada
There are a handful of Canadians living and working in Cyprus. If you are moving to Cyprus from Canada and want to meet fellow Canadians, then consider the following.
- Size:Canada is around 1,079 times bigger than Cyprus and its population is 38,246,000 whereas the population of Cyprus is only 1,216,000.
- Expat groups:Connect with fellow Canadians in Cyprus through Meetup and InterNations.
16. Moving to Cyprus from the United Kingdom
Around 60,000 to 90,000 people from the UK are currently living in Cyprus. If you’d like to join them, consider the following:
- Size: The UK is 26 times bigger than Cyprus and its population is 67,327,000 whereas the population of Cyprus is only 1,216,000.
- Expat groups:Connect with fellow Brits in Cyprus through Meetup and InterNations.
Hopefully, the tips and costs above are helpful. If want to get started pricing out how much it will cost you to move to Cyprus you can start by comparing moving quotes here.