Cost of living in Cyprus, prices and what it is like to live for an Expat, quality of life / hardship, and compare cost of living for Expatriates as at April 2020.

What is it like to live in Cyprus?

• Cyprus is an island in the Mediterranean Sea, south of Turkey.
• The climate is temperate mediterranean with hot, dry summers and cool winters.
• The official languages are Greek and Turkish. Most people speak Greek. Cypriot Greek is slightly different from mainland Greek, but is understood by Greek-speakers. English is widely spoken and understood. French and German are also spoken in tourist centres. Most people speak Turkish in the TRNC, though many understand Greek.
• The main religions are Christianity and Islam.
• The economy of Cyprus is dominated by the division of the country into the southern area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area. The Greek Cypriot economy is a prosperous one. Cyprus has an open, free-market, service-based economy with some light manufacturing. The Cypriots are among the most prosperous people in the Mediterranean region. Internationally, Cyprus promotes its geographical location as a "bridge" between West and East, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications.
• Cypriots are traditionally courteous and hospitable. When addressing Cypriots, use their title and surname unless invited to use first names. Formal light-weight dress code is generally required. Banks and many offices tend to open later in the warm summer months (May-October) with a longer break for lunch at that time of year. The safety risk for expatriates in Cyprus is low. Risks include petty crime, and on rare occasions, violent crime usually linked with organised crime. Cyprus is divided between into the Republic of Cyprus, which is part of the EU, and the Republic of Northern Cyprus which is not recognised by international law.
• The currency of Cyprus is the Euro (EUR). Banking is on a par with that of Western Europe and North America.
• The standard of healthcare in Cyprus is good, however costs of treatment for expatriates from outside the EU can be high. The Coronavirus COVID-19 total reported cases for Cyprus as at 28 May 2020 is 939, with 17 deaths. The rate of deaths per 1 million population is 14.
• The population is 1.2 Million (2020 est.), and the inflation rate (CPI) is -1.2% for Cyprus as at April 2020.
• The Xpatulator Hypothetical Tax for Cyprus is based on the current personal income tax rates which are progressive up to 35%.

Cyprus covers all areas within the country other than Nicosia.

What is the cost of living in Cyprus?

The cost of living for expatriates in Cyprus as at April 2020 is low in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 58.32 (New York =100). We have collected prices for the same items, world wide, based on Expat spending norms, in or closest to the location, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Cyprus is as follows:
1) Alcohol and/or Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1,000 in New York costs USD$590. Average price in a store for a midrange bottle of wine is USD$8.59, domestic/local beer (500ml) USD$1.51, imported/international beer (330ml) USD$2.34 and a pack of 20 cigarettes is USD$6.73.
2) Clothing: for items such as business, casual and children's clothing and footwear. A basket costing USD$1,000 in New York costs USD$1030. Average price for an international brand of mens jeans is USD$77, a quality international brand of running shoes USD$81, mens leather shoes suitable for office wear USD$106 while a medium size international summer dress from a global chain store is USD$40.
3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$180. Average price for a monthly standard plan internet subscription is USD$43, while the benchmark mobile tariff is USD$0.10 per minute.
4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30,000 in New York costs USD$20100. Average annual private international school fee (excluding extras) USD$13,143 for Primary School, and USD$14,626 for High School.
5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2,500 in New York costs USD$1125. Average price for a 6kg front loader Washing Machine is USD$554, and USD$476 for a 46+'' LED UHD TV.
6) Groceries: for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1,000 in New York costs USD$570. Average grocery prices in a major international retail store for 1 kg apples is USD$2.67, 1 kg oranges USD$1.76, 1 head lettuce USD$0.66, 1 kg potatos USD$1.18, 1 kg boneless, skinless, chicken breast USD$9.58, 1 kg cheddar cheese USD$11.19, 1 dozen large eggs USD$3.72, 500g loaf white bread USD$2.09, 1 L full cream milk USD$1.98, and 1.5 L water USD$0.98.
7) Healthcare: for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1,000 in New York costs USD$470. Average healthcare cost for a private practice Doctor visit for an uninsured patient is USD$38, and a private hospital stay per day including nursing care, medications, diagnostic tests, food, and related costs is USD$1,174.
8) Household Accommodation: for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5,000 in New York costs USD$1600. Average expatriate house / apartment rent for a secure upmarket unfurnished apartment (3 bedrooms) is USD$2,071 in a central location, and USD$1,364 in a suburban location, per month, excluding utilities.
9) Miscellaneous: for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$250. Average price for dry cleaning (1 mens 2 pc suit) is USD$4.83, while an international newspaper is USD$1.49.
10) Personal Care: for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$270. Average cost for a mens haircut and blow dry is USD$22, while a womens hair colour, cut and blow dry - medium length is USD$109.
11) Recreation & Culture: for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$405. Average price for a latest release international cinema ticket (average of on and off peak where applicable) for one adult is USD$12.90, and an international fitness, recreation or sports club membership cost for one adult is USD$75 per month.
12) Restaurants Meals Out and Hotels: for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1,000 in New York costs USD$660. Average cappuccino price (regular, medium) is USD$4.21, coke/pepsi (330ml) USD$2.02, burger meal (international franchise or similar) USD$8.59, and a mid-range international restaurant meal for 2 USD$64.48.
13) Transport: for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1,000 in New York costs USD$920. Average average price over the last year for highest available octane petrol / gasoline (1L) is USD$1.37, while the benchmark car sedan purchase price including taxes/duties for a compact / small / economy vehicle (1.4 L) is USD$19,565.

How does the cost of living in Cyprus compare?

Cyprus is -23.4% cheaper than USA for groceries, -44% cheaper for household costs than UK, and 95.5% more expensive for transport costs than India.

What is the quality of life / hardship in Cyprus?

Cyprus is ranked as a minimal hardship location.The hardship premium for Cyprus for an expat from Australia, is for example 0%, i.e. host location (Cyprus) premium of 10% minus home (Australia) location premium of 10%.