Yes, Cyprus is generally cheaper to live in than the UK.
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Cyprus is generally cheaper to live in than the UK due to its lower cost of living, affordable food prices, lower taxes, and reduced healthcare expenses. According to Numbeo, a website that compares the cost of living in various countries, the cost of living in Cyprus is 33.75% lower than in the UK. This means that one can enjoy a comfortable lifestyle in Cyprus at a more affordable rate than in the UK.
In terms of housing, Cyprus is also more affordable than the UK. The average cost of rent in Cyprus is €498.86 ($592.65) compared to the UK’s average of £1,073 ($1,431.77). One can also buy property in Cyprus at a lower price than in the UK. The cost of purchasing a home in Cyprus is 39.92% lower than in the UK.
Moreover, Cyprus’s tax system is more favorable than the UK’s. Tax residents in Cyprus are taxed on their income earned in the country and income earned abroad that is paid into a Cypriot bank account. This tax system is more beneficial for expats as it allows for a reduction of tax liability. Additionally, healthcare expenses in Cyprus are significantly lower than in the UK, making it an attractive destination for retirees.
In conclusion, Cyprus is a more affordable option for those who wish to live comfortably with a lower cost of living. As the famous author Charles Dickens said, “Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.” Cyprus offers one the opportunity to experience happiness by living within their means and reducing their expenses.
Here is a table comparing the cost of living in Cyprus and the UK:
Cost of Living Items
Cyprus
UK
Rent (1 bedroom in City Centre)
€370.00 ($439.18)
£747.86 ($997.04)
Groceries (Monthly)
€140.00 ($166.26)
£179.08 ($238.80)
Dining Out (Meal for 2)
€35.00 ($41.57)
£50.00 ($66.71)
Transportation (Monthly Pass)
€40.00 ($47.54)
£64.00 ($85.43)
Utilities (Monthly)
€120.00 ($142.61)
£142.00 ($189.47)
Note: The values in Euro and Pound were converted to US Dollars by multiplying by 1.19154 at the time of writing.
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Living costs are similar to other countries in southern Europe and considerably more affordable than Britain, with low prices even on coastal properties and inexpensive local shopping.
The cost of living in Cyprus is generally lower, taxes are more lenient and the property prices are generally cheaper than in the UK.
Life in Cyprus is generally a lot cheaper than that in the United Kingdom and other European countries. If you do a quick comparison, you’ll find that the actual living costs are around 57% lower in the Republic than in the United Kingdom.
The average cost of living in Cyprus is 10.40% lower than that in the United Kingdom.
And so, whatever happens in the future during this global cost of living crisis, it’s still cheaper to live here in Cyprus than in other EU countries, and certainly cheaper than living in the UK.
The average cost of living in Cyprus ($1410) is 22% less expensive than in the United Kingdom ($1818).
I’m sure you’ll be interested
How much money do you need to live comfortably in Cyprus?
Answer will be: A family of 2 people in Cyprus should count on a budget of 1700-1850€ per month.
Is Cyprus affordable to live?
A single person estimated monthly costs are 889.5$ (811.8€) without rent. Cost of living in Cyprus is, on average, 20.8% lower than in United States. Rent in Cyprus is, on average, 38.8% lower than in United States.
How many Americans live in Cyprus?
Answer to this: There may not be Americans living here yet, but there are plenty of foreigners… It’s estimated that there are over 110,000 (out of 1.2 million) foreign residents on Cyprus, the largest groups being Greek, British, Romanian, and Bulgarian.
How much does it cost to live in Cyprus in dollars?
Response to this: The average cost of living in Cyprus ($1410) is 36% less expensive than in the United States ($2213).
Is living in Northern Cyprus cheaper than living in the UK?
Living in the United Kingdom is more expensive than living in Northern Cyprus. Housing costs more in the UK than in Northern Cyprus. You can get a decent 1 bedroom apartment in Northern Cyprus for 8,000 TL, whereas you will be needing 15,000 TL to find a nice 1 bedroom flat in the United Kingdom.
What are the benefits of living in Cyprus?
The response is: Living in Cyprus can bring many lifestyle and financial advantages. Life, in general, is more relaxed and there are more opportunities to spend time outdoors. The cost of living in Cyprus is generally lower, taxes are more lenient and the property prices are generally cheaper than in the UK.
How much does a one bedroom apartment cost in Cyprus?
The response is: If you’re basing your judgement on a true cost of living comparison, you’ll find that rent is a lot more affordable in Cyprus, where a central one bedroom apartment would only cost you about €733 per month, as opposed to the UK’s asking price of €1,021 for the same space.
Is Cyprus a good place to retire abroad?
Response to this: Cyprus is a wonderful place. It’s sunny, friendly and represents a good value-for-money retirement location. Both North and South rank high in Expatra’s Best Places To Retire Abroad index as the best retirement destinations for financial benefits. The tax rates and cost of living are softer on your bank account compared to the UK.
Is living in Northern Cyprus cheaper than living in the UK?
Living in the United Kingdom is more expensive than living in Northern Cyprus. Housing costs more in the UK than in Northern Cyprus. You can get a decent 1 bedroom apartment in Northern Cyprus for 8,000 TL, whereas you will be needing 15,000 TL to find a nice 1 bedroom flat in the United Kingdom.
What are the benefits of living in Cyprus?
In reply to that: Living in Cyprus can bring many lifestyle and financial advantages. Life, in general, is more relaxed and there are more opportunities to spend time outdoors. The cost of living in Cyprus is generally lower, taxes are more lenient and the property prices are generally cheaper than in the UK.
Is Cyprus a good destination for expats?
Answer: An enviable island lifestyle combined with an all-around low cost of living makes Cyprus an appealing destination for expats, particularly for retirees looking to make their pensions stretch. Overall, the cost of living in Cyprus is comparable to European countries such as Poland, Hungary and Romania.
How much does a one bedroom apartment cost in Cyprus?
Response will be: If you’re basing your judgement on a true cost of living comparison, you’ll find that rent is a lot more affordable in Cyprus, where a central one bedroom apartment would only cost you about €733 per month, as opposed to the UK’s asking price of €1,021 for the same space.
