The cost of an apartment in Cyprus varies depending on factors such as location, size, and amenities, but on average, it can range from €500 to €1,500 per month for rent.
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Cyprus is a popular destination for tourists and expats due to its warm climate, beautiful beaches, and rich history. As for the cost of apartments in Cyprus, it varies depending on factors such as location, size, and amenities.
According to Overseas Property Guide, the average cost of a one-bedroom apartment in a city center is €550 to €700 per month, while the same size apartment outside of the city center can range from €450 to €600 per month. For a larger two-bedroom apartment in the city center, the average cost is €800 to €1,100 per month, and outside of the city center, it ranges from €600 to €800 per month.
It’s important to note that Cyprus uses the euro as its official currency. Additionally, utilities such as electricity, water, and internet are usually not included in the monthly rent cost and can add up to an extra €150 or more per month.
Cyprus has become an attractive location for retirees due to its favorable climate and quality of life. According to the Retire In Asia website, “Cyprus can offer you a warm climate, a friendly English-speaking population, and a favorable tax environment.”
In terms of purchasing apartments, the average cost of a one-bedroom apartment in the city center is €80,000 to €120,000, while the same size apartment outside of the city center can range from €60,000 to €90,000.
It’s important to consider the cost of living in Cyprus as well. According to Numbeo, the cost of living index in Cyprus is 58.51, which is lower than many other Western European countries. Groceries, transportation, and dining out are generally less expensive in Cyprus compared to places like the United Kingdom or Switzerland.
As the famous quote goes, “Home is not a place, it’s a feeling.” Whether you’re looking to rent or purchase an apartment in Cyprus, it’s important to weigh the costs and benefits before making a decision.
Here is a table summarizing the average cost of apartments in Cyprus:
| City center | Outside city center | |
|---|---|---|
| One-bedroom | €550-€700 | €450-€600 |
| Two-bedroom | €800-€1,100 | €600-€800 |
(Source: Overseas Property Guide)
See a related video
This video showcases a newly renovated one-bedroom apartment available for long-term rental in Paphos, Cyprus. The apartment is fully furnished with amenities such as central heating and double glazed windows. The apartment also features a balcony with stunning sea views and is conveniently located near the market and other amenities. The renovated bathroom and kitchen add to the appeal of the apartment.
https://www.youtube.com/watch?v=uO00M9wfc8Y
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Cost of living in Cyprus chart
Accommodation (monthly rent) Three-bedroom apartment in the city centre EUR 2,500 Three-bedroom apartment outside the city centre EUR 1,930 One-bedroom apartment in the city centre EUR 1,400 One-bedroom apartment outside the city centre EUR 1,040
The cost of renting an apartment in Cyprus depends on the location. In Limassol, a two-bedroom apartment costs around 550 euros per month, while in Paphos, Larnaca and Nicosia, renting a place will cost you a lot less. The average monthly rent for a 60m2 apartment in Larnaca is €310, while in Limassol, a 60m2 property makes around €535 per month. In Nicosia, a 60m2 apartment costs €380 per month. The average price of apartments for sale in Cyprus is €55,000 in Paphos, €70,000 in Larnaca and €100,000 in Limassol.
How much is rent in Cyprus? Those who are renting long-term can expect to pay around 450 euros and up for the same type of apartment or house, and around 550 euros for a two bedroom place. This is the rate for Limassol. Renting a place in Paphos, Larnaca and Nicosia will cost you a lot less.
Apartments in Larnaca make, on average, €310 a month for 60m2 flats and €510 for 120m2 ones. In Limassol, a 60m2 property makes around €535 a month and €810 a month for a 120m2 one. Finally, in Nicosia, a 60m2 one makes €380 and a 120m2 one makes €530.
Apartments for sale in Cyprus are cheaper in the North, on the self-declared independent Turkish territory, TNRC, where they sell for about €35,000 on average. Flats in the Republic of Cyprus are twice or thrice as expensive where buying prices start at €55,000 in Paphos, €70,000 in Larnaca and €100,000 in Limassol.
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