Cost of living
This is the one European country where the relatively ‘low cost of living’ paves the way for a ‘high standard of living’. You can relish in a lifestyle impossible to find elsewhere.
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Restaurants |
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Meal, Inexpensive Restaurant |
12.00 € |
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Meal for 2, Mid-range Restaurant, Three-course |
41.36 € |
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Combo Meal at McDonalds or Similar |
6.00 € |
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Domestic Beer (0.5 liter draught) |
3.00 € |
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Imported Beer (0.33 liter bottle) |
3.50 € |
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Cappuccino (regular) |
3.85 € |
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Coke/Pepsi (0.33 liter bottle) |
2.00 € |
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Water (0.33 liter bottle) |
0.95 € |
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Markets |
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Milk (regular), 1 liter |
1.48 € |
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Loaf of Fresh White Bread (500g) |
1.99 € |
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Rice (1kg) |
2.00 € |
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Eggs (12) |
3.45 € |
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Local Cheese (1kg) |
9.00 € |
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Chicken Breasts (Boneless, Skinless), (1kg) |
8.00 € |
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Apples (1kg) |
2.00 € |
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Oranges (1kg) |
1.45 € |
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Tomato (1kg) |
1.45 € |
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Potato (1kg) |
0.65 € |
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Lettuce (1 head) |
1.00 € |
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Water (1.5 liter bottle) |
0.98 € |
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Bottle of Wine (Mid-Range) |
5.00 € |
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Domestic Beer (0.5 liter bottle) |
1.00 € |
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Imported Beer (0.33 liter bottle) |
1.28 € |
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Pack of Cigarettes (Marlboro) |
4.40 € |
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Transportation |
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One-way Ticket (Local Transport) |
1.00 € |
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Monthly Pass (Regular Price) |
25.00 € |
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Taxi Start (Normal Tariff) |
3.42 € |
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Taxi 1km (Normal Tariff) |
0.76 € |
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Taxi 1hour Waiting (Normal Tariff) |
13.66 € |
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Gasoline (1 liter) |
1.30 € |
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Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
20,362.50 € |
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Utilities (Monthly) |
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Basic (Electricity, Gas, Water, Garbage) for 85m2 Apartment |
141.67 € |
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1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) |
0.08 € |
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Internet (6 Mbps, Unlimited Data, Cable/ADSL) |
45.00 € |
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Sports And Leisure |
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Fitness Club, Monthly Fee for 1 Adult |
60.00 € |
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Tennis Court Rent (1 Hour on Weekend) |
11.50 € |
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Cinema, International Release, 1 Seat |
8.00 € |
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Clothing And Shoes |
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1 Pair of Jeans (Levis 501 Or Similar) |
82.50 € |
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1 Summer Dress in a Chain Store (Zara, H&M, ...) |
47.00 € |
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1 Pair of Nike Shoes |
85.00 € |
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1 Pair of Men Leather Shoes |
95.00 € |
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Rent Per Month |
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Apartment (1 bedroom) in City Centre |
450.00 € |
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Apartment (1 bedroom) Outside of Centre |
400.00 € |
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Apartment (3 bedrooms) in City Centre |
665.00 € |
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Apartment (3 bedrooms) Outside of Centre |
550.00 € |
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Buy Apartment Price |
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Price per Square Meter to Buy Apartment in City Centre |
1,750.00 € |
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Price per Square Meter to Buy Apartment Outside of Centre |
1,775.00 € |
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Salaries And Financing |
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Median Monthly Disposable Salary (After Tax) |
1,300.00 € |
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Mortgage Interest Rate in Percentanges (%), Yearly |
6.00 |
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Pensions
I) Old-age pensions
All insured persons irrespective of the category of insurance, i.e. salaried staff, self-employed and voluntary contributors, are entitled to an old-age pension.
The conditions governing the payment of the old-age pension are:
- The insured person has reached the age of 65.
- 3 years have elapsed since the date of insurance prior to the date on which pensionable age is reached and in that period contributions have been paid on the minimum portion of insured earnings which in total comes to not less 156 times the weekly amount of basic insurance payments and
- He/she has a weekly average amount of payments or insurance credits on the minimum portion of insured earnings equal to at least 25% of the weekly amount.
Under certain conditions, an insured person is entitled to receive an old-age pension after reaching the age of 63.
II) Social pension
A social pension is payable to persons who:
- Have reached the age of 65.
- On reaching this age or thereafter they satisfy the residence conditions and
- They are not entitled to a pension from any other source or any similar payment whose monthly amount is equal to or greater than the monthly amount of the social pension.
III) Disability pension
Insured salaried staff, the self-employed and voluntary contributors working for a Cypriot employer abroad who have not reached the age of 63 are entitled to a disability pension.
IV) Widow’s/widower’s pension
The widow of a salaried person who died in an occupational accident or from an occupational illness is entitled to a widow’s pension. In exceptional circumstances, a widower whose salaried spouse died in an occupational accident or from an occupational illness is entitled to a widower’s pension.
V) Survivor’s pension
Widows of insured persons, irrespective of the category of insurance, i.e. salaried staff, self-employed and voluntary contributors, who were living with their spouse at the time of the spouse’s death or, if they were not living together, were maintained solely or mainly by their spouse, are entitled to a survivor’s pension.
Widowers of insured women, who are permanently unable to support themselves and who were living with their spouse before she died, are entitled to a survivor’s pension.
*Source European Union
