Alex Staff Agency

Cyprus – Money Matters: Cost Of Living On The Island

March 2023: Current prices. Verified by locals
Cyprus has always been a popular destination for businesses and IT specialists. After all, the island has a pleasant climate, offers European standards of living, and beneficial conditions for company development. People come and establish communities that support each other and help new arrivals adapt to a new place.

Being attractive naturally, Cyprus has recently experienced an additional influx of immigrants due to the geopolitical events of 2022. The flow of those wishing to move there has only been increasing.

Living there is usually cheaper than in most European countries. We have examined the budget that will be necessary to feel financially secure on the island. Maria and Alexei Suhorukov, the founders of our agency, live on the island (in Pathos). They checked the prices presented in the article. Let’s go!
Renting and Utilities

Limassol is the priciest location for housing on the island. It is a relatively small city by mainland standards, with a population of approximately 154,000 people, but it is one of the largest in Cyprus. This is where most of the business activity and top IT companies are concentrated, resulting in a higher demand for apartments and houses. But it also offers more job opportunities. Presently, most of our clients from Cyprus are based in Limassol.

What is the cost of renting a two-room apartment in this city? The starting price is €2500 per month, but it's possible to find something a bit less expensive if you have the time to look. Or if you get some help from your friends or other expats. Use some useful tips provided in our article about the most effective ways to search for housing in Cyprus.

However, if you are open to considering villages near Limassol, the price tag will be lower, starting at €1400 for an apartment with three bedrooms, a living room, a kitchen, and a porch. It’s ok for a studio outside of the city to cost about €1000, especially if you’re going to rent it for the long term.

In other parts of the island, the prices are lower. Recently our candidate got an offer from a Cypriot company and moved to the island with his family. They settled in Paphos and rented a house (4 rooms, a heating system and a swimming pool) for about €2500 per month.

Utility costs vary depending on the season. In summer, accommodation up to 100 square meters is approximately €230. During colder months, houses tend to be quite chilly because they are not well-insulated, resulting in higher heating expenses. The average price in winter will be around €280-300.

Groceries

Typically, the monthly expense for groceries ranges from €400 to €500 for 1-2 people. This sum includes cooking meals at home and occasionally dining out and opting for food delivery.

You can estimate the cost of your regular grocery shopping using the website of the biggest grocery franchise in Cyprus called SupermarketCy. It is available in both Greek and English.

As an illustration, we compiled a cart for €72, which consists of:

  • Red cherry tomatoes — 1 kg (2 packs)
  • Cucumbers — 1 kg
  • Carrots — 1 kg
  • Potatoes — 2 kg
  • Green salad — 2 packs
  • Apples — 1 kg
  • Chicken fillet — 850 g
  • Minced beef — 500 g
  • Black olives — 1 kg
  • Ciabatta bread — 8 pcs
  • Pistachio ice cream — 850 g (bucket)
  • Butter — 200 g
  • Chocolate — 170 g
  • Eggs — 15 pcs
  • Milk — 1 l
  • Sour cream — 200 g
  • Cheese — 250 g
  • Pasta — 500 g
As in any other country, you can buy in stores of different price categories or opt for products at farmers' markets.



Transportation

Cyprus is an island where everything is in close proximity. You can live in one town or village and work in a neighboring one. Commuting takes up minimal time anyway.

However, owning a car is a requirement, as the public transportation system is insufficiently developed, with only buses available. A single ticket costs around €1.5, while a weekly city pass is €40.

The infrastructure for cyclists is not ideal. There are some special trails, but you often need a car journey to access them. Some also ride on the main road, but it can be unsafe due to their narrow width or winding routes through mountainous terrain. In Limassol, there is a pleasant bike path that runs alongside the coast.

You can buy a second-hand but still reliable car for approximately €4500. Although there are cheaper options available, you may end up spending more on repairs and maintenance. And you will likely need to purchase another vehicle in a year or two. Alternatively, you can rent one, which will cost about €400-600 per month.

The gasoline price is around €1.50 for a liter. Cyprus does not have toll roads, and the roads are generally of high quality (after all, this country is a member of the European Union). There are ample free parking areas available, but not in city centers. Not only are they paid-for (the hourly rate is about €0.5-1), but also very limited. So, it’s a primary problem to find a spot to part your vehicle. The penalty for parking in a prohibited area is €85.



Education for Children

If you are traveling with kids, you can choose from schools and kindergartens that teach in Greek, Russian, or English.

Greek kindergartens charge a monthly fee of about €200-250, while Russian ones range from €250-330 per month. English kindergartens cost about €350 per month.

Education in schools is also divided based on these three languages. The highest quality is offered by English schools, where one month's tuition costs about €700 (payment is typically made for a full year, and fees increase with the grade level).

Greek schools are state-owned and, therefore, are free, while tuition for Russian schools is approximately €550 per month.

Aside from the tuition fees, your child will also require winter and summer uniforms, which cost about €400 in a private school (and cheaper in a public one). You’ll also need to buy textbooks, notebooks, and stationery for around €230 (for the entire year).

Extracurricular activities start from €50.
Entertainment

A budget of €250-300 per month is sufficient to maintain an active social life, including dining out at restaurants or cafes once or twice a week, visiting museums, and amusement parks or going to the cinema on weekends, and purchasing a gym membership.

Below are some examples of the prices for various leisure activities:

  • Lunch in a cafe — from €20
  • Dinner with wine for two — from €80
  • Meze, local cuisine — from €30
  • Cinema tickets — from €15
  • A fitness center with a swimming pool and sauna — from €150 per month
  • Hire a bicycle — €10 per day
  • Rent a car for a day and drive to a nearby town — €40-50 + priceless experience)

Self-care and beauty:

  • Haircuts: women — from €35, men — from €30
  • Hair coloring — from €80
  • Manicure — from €35, pedicure — from €50
  • 150 €/month is sufficient to regularly renew your wardrobe

Our favorite part – let's summarize! How much does it cost to live in Cyprus? You can expect to spend around €1200 on rent and utilities, €400 on groceries, €150 on clothing and footwear, and €250 on entertainment. So, the total sum comes to €2000 per month.

If you're interested in exploring job opportunities in Cyprus, you can find a list of available vacancies on this page. We also have openings in other countries, including remote work options, which will allow you to work from anywhere in the world.
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