Cyprus has been on the expats’ radar for some time now thanks to its booming IT and financial services sectors, English-language environment, favourable tax and visa regimes, and higher quality of life in general. But what is the cost of living in Cyprus? In this article, we look at property renting and associated expenses, give examples of prices and salaries in Cyprus, and share tips on how to manage your expat budget there efficiently.
General information
Cyprus is a small Mediterranean nation that prides itself on being “ at the crossroads between three continents.” Throughout its history, it has been a melting pot for dozens of different cultures and remains a welcoming expat hub.
As elsewhere, life in Cyprus has its pros and cons. As an island, it is a very safe country with a pleasant climate and beautiful seacoast. At the same time, its connectivity with the outside world is limited, and life can get too slow for one’s taste. Also, prices in Cyprus might be higher than in other European countries, significantly affecting the cost of living in Cyprus. For example, the island’s electricity is the most expensive in Europe. But before we evaluate how much money you need to live comfortably there, let’s first examine salaries in Cyprus for various categories of employment.
What is a good salary in Cyprus?
According to the latest official statistics, in Q3 2024, the average gross salary in Cyprus was 2,351 EUR per month, or 30,563 EUR annually. This is lower than the EU average (37,900 EUR back in 2023, the latest available data) but higher than in countries such as Bulgaria, Hungary, or Greece.
Salaries in Cyprus for most employees (40% of the total) are below 1,500 EUR a month, and around 10% of employees earn over 4,500 EUR monthly. The lowest salaries are in agriculture, forestry and fishing (slightly above 900 EUR) and the highest in finance, IT, and insurance (close to 5,000 EUR a month). Interestingly, salaries in Cyprus’s IT sector grow faster than in any other: in the first three quarters of 2024 alone, the increase was by 14.5% compared to only 0.7% in agriculture, for example.
If your interest in what the cost of living in Cyprus is comes from a digital nomad’s perspective, the minimum monthly income required to get a respective visa is 3,500 EUR.
A higher standard of quality of life is maintained through a statutory minimum salary in Cyprus. The law stipulates that any full-time employee must get at least 1,000 EUR monthly (900 EUR sometimes). At the same time, the minimum salary provisions in Cyprus do not cover domestic and farm workers, seamen, people working in the hospitality sector, and those under collective agreements.
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What is the cost of living in Cyprus?
On average, a family of four should look at about 3,100 EUR as their monthly cost of living in Cyprus. For a single person, the amount is close to 900 EUR. However, neither number includes rent, which in Cyprus is the largest part of any budget.
House prices in Cyprus
In the last couple of years, property rental prices in Cyprus have skyrocketed. In 2025, renting a flat would cost 1,800 EUR and a house 3,250 EUR a month on average. These numbers, however, give only a vague idea of what the cost of living in Cyprus is if you need to rent because the prices vary greatly between cities. The highest house prices in Cyprus are in Limassol, where the average monthly rent stands at 2,750 EUR for a flat and 4,500 EUR for a house. On the other side of the spectrum is Famagusta: you can rent a flat there for as little as 750 EUR per month.
Unless you come to Cyprus as a digital nomad free to “live on the beach”, then as an expat, you will most probably be working in either Limassol or Nicosia, where most of the larger businesses are located. The prices from the table below should help you figure out what the cost of living in Cyprus is with rent.
Average property rental prices in Cyprus, EUR/month
| City | Flats | Houses |
|---|---|---|
| Limassol | 2,740 | 4,490 |
| Nicosia | 1,000 | 1,900 |
| Larnaca | 1,120 | 2,340 |
| Pafos | 1,190 | 2,690 |
| Famagusta | 750 | n/a |
Keep in mind that when signing a tenancy agreement, you are expected to pay a deposit, which is insurance against potential damage to the property. The deposit usually amounts to 2-3 monthly rents and is held by the landlord until tenancy termination.
Utilities
There are other expenses associated with renting a property which should be considered when figuring out what the cost of living in Cyprus is. These include electricity, water, internet connection, common expenses in apartment blocks, and so on. There is also a municipal garbage collection tax amounting to 100-200 EUR a year.
It should be noted that conditions regarding utilities in tenancy agreements may vary. In some cases, all utilities are transferred under the name of the tenant who is responsible for settling the bills. Alternatively, everything remains under the landlord’s name, who charges the tenant respectively, in addition to the rent. With very small, one-tenant properties, utilities can sometimes be included in the rent.
As already mentioned, electricity prices in Cyprus are notoriously high, and the situation is exacerbated by the need to use air-conditioning most of the time, for cooling in summer and for heating during the winter months. Under the most common scheme, electricity bills are bimonthly and would start at 150 EUR but may go well above 1,000 EUR rendering it an important part of the cost of living in Cyprus calculations.
Water bills come on a quarterly basis and comprise a fixed charge (between 20 EUR and 30 EUR) and the amount you pay for the water consumed. The prices in Cyprus vary between locations, with some remote villages imposing higher charges. The cost of a broadband internet connection or a mobile plan with data is around 30-50 EUR a month.
Common expenses are usually paid in addition to the rent. The amount starts at 50 EUR a month but can go up to several hundred euros depending on the size of the building and whether there are additional conveniences such as concierge service or a communal pool.
Luckily, you can save on utility bills if you know sime tips.
Cost of food in Cyprus
One of the major advantages of living in Cyprus is access to fresh and cheap fruits and vegetables throughout the year. Other groceries, however, such as imported products or local eggs and meat (excluding pork, whose production is state-subsidised) might be rather expensive. At current supermarket prices in Cyprus, food expenses for a family of two would contribute about 700-1,000 EUR to the monthly cost of living in Cyprus. The table below shows the cost of food in Cyprus as calculated by Numbeo.
Supermarket prices in Cyprus, EUR
| Grocery type | Price (Min), EUR | Price (Max), EUR |
|---|---|---|
| Bread | 1.00 | 2.80 |
| Rice, 1kg | 1.35 | 3.35 |
| Chicken fillets, 1kg | 5.00 | 10.00 |
| Potato, 1kg | 0.80 | 2.50 |
| Milk, 1l | 1.10 | 2.50 |
| Banana, 1kg | 1.15 | 3.00 |
| Apples, 1kg | 1.49 | 4.00 |
| Eggs, 12 | 1.80 | 5.76 |
| Cyprus beer, 0.5l bottle | 1.00 | 2.86 |
| Total | 14.69 | 36.77 |
And what is the cost of living in Cyprus if you prefer to eat out? The price for a meal for one in an inexpensive restaurant varies between 10 EUR and 30 EUR, while two people dining in a more upscale establishment would pay between 50 EUR and 100 EUR for a three-course meal.
Cyprus public transport
If you are used to relying on public transport, then navigating around Cyprus might be a challenge. The only types available on the island are bus, urban, rural, and intercity, as well as special airport shuttles.
Within the city limits, a single ticket costs 2.40 EUR during the day and 4 EUR between 9 pm and 4 am. There is a variety of passes offered as Motion Bus Card, allowing trips for several days. Monthly passes for Cyprus public transport can be purchased for 50 EUR (personalised) or 75 EUR (anonymous), but keep in mind that each city has its own pass. Prices in Cyprus for a bus trip between cities or to/from airports are usually around 10 EUR.
Overall, using Cyprus public transport is not an easy task. To feel comfortable on the island, you need a car. Therefore, if you are planning a relocation, negotiating a corporate car with your employer will significantly affect both your quality of life and the monthly cost of living in Cyprus.
Otherwise, you need to buy a vehicle or rent one. Long-term car rental prices start from 300 EUR a month, but you can also use one of the car-sharing services. In this case, a short trip within the city would cost around 5 EUR, and 25-30 EUR between cities. The price of petrol is currently close to 1.40 EUR/l.
Taxis are a popular means of transportation but not the cheapest: for a 5 km trip in the city, one should expect to pay 15-20 EUR.
Healthcare and medicine prices in Cyprus
What is the cost of living in Cyprus in terms of medical care? The island’s healthcare system operates in two tiers, public and private. The public sector, known as GeSY, is funded through social security contributions. Most types of income are levied between 2.65% (employment, passive income) and 4% (self-employment) towards GeSY, giving access to medical care at participating clinics. Under GeSY, the medicine prices in Cyprus are 1 EUR per medicine (except over-the-counter ones) and per prescription and the amount is capped at 150 EUR per year.
While GeSY contributions are mandatory, those living and working in Cyprus can also opt to be insured privately. In many cases, private insurance is also a requirement for residence and work permits for expats. The cost of insurance varies, and you can expect between 150 EUR and 400 EUR added to your monthly cost of living in Cyprus.
Generally, a consultation with a private specialist costs around 50-70 EUR, but many participate in GeSY, and you can visit them free of charge if directed by your GP. As you can see, the cost of living in Cyprus depends on many factors. For an expat, there are some substantial initial expenses such as renting a house or a car to ensure the minimum level of comfort but having settled those one can fully enjoy the island’s Mediterranean lifestyle.
Conclusion
Many foreigners come to Cyprus as a transition point, to work and put some money aside for the future. Others seek to establish themselves more permanently there, to be able to support their loved ones back home or work on the European market. Regardless of what your situation is, as an expat in Cyprus you most probably need to send money internationally, and Profee is an ideal solution.
A licensed online money transfer provider, it offers a fast, easy, and cost-efficient service with the best currency exchange rates on the market and a generous referral programme. Instead of paying an exorbitant fee for your next bank transfer, check the Profee’s currency converter or get the iOS/Android app to instantly send money to 90+ destinations across the globe.
