Living in Cyprus can be quite expensive for a family, especially considering the variations in the cost of living from city to city, taking into account rental prices, according to data from the expatistan.com online platform.
The data show that in June 2022, the estimated average monthly cost for a family of four in Cyprus was €4,193, with a monthly cost of €2,277 for an individual. The platform allows users to compare cities based on the cost of living.
Nicosia
For Nicosia, the monthly cost of living for a family of four is €3,197, and for an individual, it is €1,348.
According to the data, the monthly rent for an 85 sqm apartment in an expensive area is €882, while in an average-priced area, it is €625.
The monthly rent for a furnished studio apartment measuring 45 sqm in an expensive area is €543, and in a normal area, it is €420. In Nicosia, an average cocktail in the city centre costs around €9, while a beer costs €3.55.
Limassol
When comparing Limassol to Nicosia, the cost of living in the former is 11% higher than in the capital.
In Limassol, the monthly cost of living for a family of four is €4,141, and for an individual, it is €2,380. The difference in cost of living compared to Nicosia is €944 for a family of four, and for an individual, it reaches €1,032, approximately equivalent to an average salary.
The monthly rent for a furnished 45 sqm studio apartment in an average-priced area in Limassol costs €1,100 (as of 6 days ago), while the rent for a furnished studio apartment in an expensive area in Limassol costs €1,500 (as of 6 days ago).
The monthly rent for an 85 sqm apartment in Limassol costs €1,500 (as of 6 days ago) and in an expensive area, it reaches €2,131.
In Limassol, a 500ml beer in a local pub costs €4 (as of 6 days ago), and a cocktail in the city centre costs €15 (as of 6 days ago). Additionally, 1 litre of gasoline in Limassol costs €1.49 (as of 6 days ago).
Larnaca
Living in Larnaca is more affordable than in Nicosia and Limassol. In the city of Zeno, the cost of living for a family of four is €2,895 per month, and for an individual, it is €1,242.
Furthermore, the monthly rent for a furnished 85 sqm apartment in an expensive area is €942, and for 85 sqm in an average-priced area, it is €477.
The monthly rent for a furnished 45 sqm studio in an expensive area is €485, and for a furnished 45 sqm studio in an average-priced area, it is €359.
Comparisons with other countries
The cost of living in Nicosia is 25% cheaper than in Helsinki, and the cost of living in Limassol is 30% more expensive than in Moscow, according to expatistan.com.
Also, living in Limassol is 32% cheaper than in Philadelphia, Pennsylvania, and in Larnaca, it is 25% cheaper than in Jerusalem.
Living in Nicosia is 46% cheaper than in London, while Limassol is 49% more expensive than in St. Petersburg.
The cost of living in Nicosia is 4% cheaper than in Lisbon, and the cost of living in Limassol is roughly the same as in Barcelona.
The cost of living in Cyprus is 25% more expensive than in Greece, with food prices being 32% higher and rental costs being 66% more expensive.