Cyprus Low Prices

Cost of living in Cyprus is considered to be relatively low, in comparison to other Western European countries. Some statistics list Cyprus within the top three least expensive countries regarding food and services, indicating that prices are about 25% lower than most of the European countries.

Though the large increase in fuel prices in recent years has led to a chain of increases in the prices of all products and services, prices are maintained at relatively low levels, if you take into account the average level of the salaries. Labor costs, for example, are by far lower than the average of the respective costs in Europe, when communication costs are considered to be the lowest within the EU. However when it comes to cars and electronic goods such as computers, cameras and mobiles, prices are a bit higher than for example in the UK, even though they have been stable for the last years.

On the other hand prices for goods like food, medicines, building materials and services like electricity and transportations, despite increase, are still lower than in other countries in Europe. Specifically, surveys that have been curried out to examine the cost of living in 144 cities worldwide rank Limassol in position 118, showing that the cost of living in Cyprus is lower than many more places in the word. Especially food prices are at a quite low level. Even when it comes to eating out, prices are relatively good ranging from €14 to €25 per person, including drinks. 

The good news for those planning to reside in Cyprus is that rental prices and property purchase prices are considerably lower than in other European countries, not to mention the variety in choices for any budget. In fact, Nicosia has been assessed as the least expensive city in Europe and the Middle East.

Undeniably the cost of living is one of the top factors one should consider, when investing in overseas property or when planning to relocate in another country. Probably Cyprus is the best choice you can make, relying on the low cost of living all the island’s residents enjoy.

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