The Cost of Living in Cyprus in 2024

We know that moving to Cyprus will save us money on many day-to-day living costs, but how much? And where in particular can we save? In the all-new Property Guides Cost of Living Overseas Index, we have expanded the range of items to take into account new ways of living, such as digital downloads and more household goods. We also include top tips from those who have made the move already, on where to save money and shop like a Cypriot!  

Overall, our survey found prices were around 15% cheaper than in the UK. That varies by the type, with fresh goods that are imported inevitably being more expensive. Cyprus, with a population of just over one million, simply doesn’t have the economies of scale that we find in the UK. Shopping around and only choosing local, seasonal produce will cut your living costs drastically.

If you’re receiving an income from the UK, shop prices are only half the story. To understand your cost of living in Cyprus, read The Currency Guide to Emigration, free to download.

Groceries / in the supermarket

Cyprus ranks 3rd in our affordability rankings, with a basket of supermarket essentials and a few luxury items costing £64.54.

By comparison, the same items cost £79.99 in the UK, £66.85 in Italy, while Spain leads as the most affordable at £52.23.

Highlights:

• Fresh produce is competitively priced when in season
• Cyprus offers a variety of local wines at reasonable prices
• Staple food items like bread and milk are cheaper in Cyprus than in some other European countries

Expat insight

All major supermarkets like Alpha Mega, Papantoniou sell Tesco and Sainsbury’s products, but with a limited range. Lidl has come to Cyprus too, opening several new stores, and has discounted Sainsbury’s products too. You can also buy British products at small, discount supermarkets.

It’s worth noting that supermarkets produce flyers advertising local and British food and drink products at discounted prices. These are distributed to homes via mailboxes and are helpful before the weekly or monthly shop.

Travel

The Cost of Living Overseas Index revealed that travel in Cyprus is relatively more expensive than in some of its neighbouring countries. Cyprus ranked 5th out of 13 countries in terms of affordability. The index considered the cost of a tank of petrol (50 litres, unleaded), the hire of a small car (one week, Mon to Fri, no insurance or extras), and a return train fare (one hour journey, off-peak, booked that morning).

Highlights:

• Petrol prices in Cyprus are more costly compared to many other countries.
• Car hire is also pricier in Cyprus than in places like Italy, Greece, and Portugal
• There are no trains in Cyprus, but bus travel is extremely cheap

Expat insight

Hire car companies are well-represented in Cyprus – and they are competitively priced. Shop around for the best prices via their online websites. Local car hire companies were very competitive too but these have now disappeared.

In the home

The Home category examines the prices of items you’d need as a new buyer in Cyprus. This includes prices of a 1.5-litre pot of paint, an Ikea bookcase, a new TV, a Ninja air fryer, and ongoing payments, like a phone contract and a week’s worth of electricity. Cyprus ranked 11th of 13 in terms of affordability. The same products that cost £1,108.84 in Cyprus cost £1,046 in the UK, £770 in Spain, and £987.65 in France.

Highlights:

• Electricity in Cyprus is typically more expensive than in the UK, Spain, and France.
• Home appliances like air fryers are also costlier in Cyprus.
• The cost of paint in Cyprus is comparatively higher than in other countries.

Expat insight

Latest technology such as games and consoles are high priced because they are imported from Europe or America and the charges are passed on to the consumer. However, there are three main sales periods per year, where you will find these products well discounted.

Internet services are provided as a package – with a mobile phone, computer, and television as a deal.

How’s your haggling? Thankfully Cyprus isn’t a country where you need to, except when it comes to buying a property! Brush up on your tactics with our free guide, How to Negotiate Abroad.

Leisure

Leisure activities in Cyprus are reasonably priced. The Cost of Living Overseas Index looked at things like a three-course meal at a mid-range restaurant, a cappuccino at a local café, a monthly Netflix subscription, etc.

Highlights:

• A three-course meal at a mid-range restaurant is cheaper in Cyprus than in the UK and Germany
• Cyprus offers affordable local wines in restaurants
• Entertainment subscriptions like Netflix are priced competitively in Cyprus

Healthcare

Cyprus ranked 3rd overall out of 13 countries in terms of healthcare affordability in the Property Guides Cost of Living Overseas Index.

Highlights:

• A basic dentist check-up is the cheapest in Cyprus than the other 12 countries surveyed, costing just £17.18.
• Paracetamol was the most expensive, as you can only buy these from pharmacies
• Overall, Cyprus ranked third most affordable out of 13

 Expat insight:

Medicines are comparatively high in price in Cyprus since they are only obtainable from pharmacies, which are independently controlled. Cyprus is currently phasing in a healthcare scheme that involves local and foreign residents’ monthly contributions as an alternative to the presently expensive private healthcare.

Read our Healthcare Guide to accessing medical attention in 11 countries.

Other

Our final category covers items that you might occasionally indulge in, such as jeans from a high-street shop, a night’s stay at a mid-range city hotel and a man’s haircut.

Cyprus ranked 7th out of 13 countries for this category, with a total of £143* for the three items in this particular survey. We found that this would cost up to £80 more in the UK and £50 more in France.

Highlights:

• Clothing is reasonably priced in Cyprus, largely matching most of Europe
• A night’s stay in a mid-range city hotel costs an average of £100 in Cyprus
• You’d typically pay a bit more for a haircut in Cyprus than in the UK and Spain

Please note, that these prices were correct when we gathered this information, and shouldn’t be taken literally, think of them as more of an average indication of the price you’ll pay for goods & services in Cyprus.

Conclusion

We found that the cost of living in Cyprus is typically more affordable than living in the USA, France, the UK, Australia and New Zealand. Products for the home appear to be more competitively priced in Cyprus, but groceries are much more affordable in Cyprus.

The Cost of Living Overseas Index 2024 ranked Cyprus as the 7th most affordable country to live in, out of 13.

For more information on the methodology used, please head to our Cost of Living homepage. Please note, that the exchange rate used was taken from mid-December 2023 and prices were converted from euros to pounds to effectively compare the prices across 13 countries.

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