Cyprus is a Mediterranean island country known for its beautiful beaches, warm climate, and rich history. The cost of living in Cyprus can vary depending on the location and lifestyle. In this article, we will explore the local currency in Cyprus, compare the cost of living in Cyprus to the cost of living in the UK and the USA, break down costs in Cyprus for singles, couples, and families of 4 in various categories, and explain the most common forms of payment in Cyprus.
Local Currency in Cyprus
The local currency in Cyprus is the Euro (EUR). The symbol for the Euro is “€” and the currency code is EUR. One Euro is equal to 1.20 US dollars. The most commonly used coins are 1, 2, 5, 10, 20, and 50 cents, while the most commonly used banknotes are 5, 10, 20, 50, 100, 200, and 500 Euros.
Cost of Living in Cyprus Compared to the UK and the USA
The cost of living in Cyprus is generally lower than the cost of living in the UK and the USA. According to Numbeo, a website that compares the cost of living in different countries, the cost of living index in Cyprus is 57.17, while the cost of living index in the UK is 71.79 and the cost of living index in the USA is 72.56. The cost of living index is a measure of the average cost of goods and services in a country, where 100 is the index for New York City.
However, the cost of living in Cyprus can vary greatly depending on the city and the lifestyle. Living in the city center can be more expensive than living in the suburbs, and living in popular tourist areas can also be more expensive.
Cost Breakdown in Cyprus
The cost of living in Cyprus can vary greatly depending on the lifestyle and location. Below is a breakdown of costs in Cyprus for singles, couples, and families of 4 in various categories.
Housing
The cost of housing in Cyprus can vary depending on the location and the type of accommodation. According to Numbeo, the average cost of rent for a one-bedroom apartment in the city center is around 550 EUR per month, while the average cost of rent for a one-bedroom apartment outside the city center is around 400 EUR per month. The cost of buying an apartment or house can vary greatly depending on the location and the size of the property.
Food
The cost of food in Cyprus is generally lower than the cost of food in the UK and the USA. According to Numbeo, the average cost of a meal at an inexpensive restaurant in Cyprus is around 10 EUR, while the average cost of a meal at a mid-range restaurant is around 40 EUR. The cost of groceries in Cyprus can vary depending on the location and the type of food. For example, the cost of fruits and vegetables is generally lower than the cost of meat and dairy products.
Utilities
The cost of utilities in Cyprus can vary depending on the location and the season. According to Numbeo, the average cost of utilities for a 85 square meter apartment in Cyprus is around 120 EUR per month. This includes electricity, heating, water, and garbage collection. However, the cost of utilities can be higher in the summer when the demand for electricity and water is higher.
Leisure
The cost of leisure activities in Cyprus can vary greatly depending on the location and the type of activity. Cyprus offers a wide range of leisure activities, such as visiting historic sites, enjoying the beaches, and attending cultural events. For example, the cost of visiting the famous Tombs of the Kings in Paphos is around 2.50 EUR per person, while the cost of a day trip to the popular beach town of Ayia Napa is around 10 EUR per person.
Transport
The cost of transportation in Cyprus can vary depending on the location and the mode of transportation. According to Numbeo, the average cost of a one-way ticket on public transportation in Cyprus is around 1.50 EUR, while the average cost of a taxi ride for 8 kilometers is around 20 EUR. However, the cost of transportation can be higher in larger cities or during peak hours.
Clothing
The cost of clothing in Cyprus can vary depending on the quality and the location. According to Numbeo, the average cost of a pair of jeans in Cyprus is around 70 EUR, while the average cost of a dress is around 60 EUR. However, the cost of clothing can be higher for imported items or name brand products.
Household Goods
The cost of household goods in Cyprus can vary depending on the location and the type of item. For example, the cost of a 40-inch LED television in Cyprus is around 300 EUR, while the cost of a washing machine is around 400 EUR. However, the cost of household goods can be higher for imported items or name brand products.
Forms of Payment in Cyprus
The most common forms of payment in Cyprus are cash and credit cards. Debit cards are also accepted in most establishments. It’s important to note that some establishments may not accept credit or debit cards for small transactions, and it’s always a good idea to carry some cash with you.
In conclusion, the cost of living in Cyprus is generally lower than the cost of living in the UK and the USA. However, the cost of living can vary greatly depending on the location and the lifestyle. The most common forms of payment in Cyprus are cash and credit cards, and debit cards are also widely accepted. It’s important to research the cost of living and the forms of payment before traveling to Cyprus or moving to Cyprus.