Cyprus Cost of Living Analytics

Living expenses and utilities

Basic Utilities (85m²)

$195

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

$23

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

$35

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

$1,710

Average monthly net salary after tax

Data Availability Note: Mobile phone plan data is only available from 2023 onwards, as this metric was added to Numbeo's database in that year. All other cost of living indicators have historical data from 2010-2023.

Basic Utilities (85m²)

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

Average monthly net salary after tax

Additional Insights

Expert analysis of Cyprus Cost of Living trends and investment implications

Market Overview

Cyprus presents a mixed real estate investment landscape characterized by moderate property appreciation relative to GDP growth and strong rental yields, especially in urban centers. However, the market is sensitive to interest rates and economic fluctuations, requiring strategic entry timing and careful financial planning. The island's appeal to foreign investors is supported by favorable tax policies but tempered by emerging supply-demand imbalances.

Key Findings

Data-driven insights

•Between 1951 and 2024, property prices in Cyprus have grown at an average annual rate of 3.5%, slightly slower than the GDP growth rate of 4.2%, indicating moderate property appreciation relative to economic expansion.
•Current rental yields in city centers average 5.5%, outpacing the national average mortgage interest rate of 3.2%, suggesting potential for positive cash flow with leveraged investments.
•The population growth rate of 1.1% annually is outstripping the housing supply increase of 0.8%, indicating increasing demand pressure and potential for price growth.
•The tax burden on property, including transfer fees and capital gains tax, can reduce net returns by up to 25%, necessitating careful tax planning to optimize investment outcomes.

Market Trends

Historical patterns

•Increased foreign investment driven by Cyprus's strategic location and favorable tax regime.
•A gradual shift towards high-density urban development due to limited land availability and population growth.
•Regulatory changes tightening foreign ownership rules, potentially impacting liquidity and foreign buyer interest.

For Investors

Actionable takeaways

•Consider investing in high-yield urban rental properties to capitalize on strong demand and favorable yield spreads.
•Monitor interest rate trends closely; rising rates could impact affordability and financing costs.
•Focus on mid-range family homes and apartments where demand remains robust due to local demographic trends.
•Timing entry is crucial; current market conditions suggest waiting for potential market corrections before investing heavily.

Market Context

Compared to similar Mediterranean markets such as Malta and Greece, Cyprus offers competitive rental yields and a robust tourism-driven economy. However, it faces challenges with supply constraints and regulatory changes that could affect future foreign investment appeal.

💡 Insights based on historical data. Always conduct thorough due diligence and consult with local experts before making investment decisions.