A recent survey that compared apartment prices across the island concluded that the most expensive were in Limassol, followed by Nicosia, Larnaca, Paphos and Famagusta.
The cost-of-living survey, which was conducted by the Insider Magazine, looked at various price comparison websites to determine the average prices of city restaurants, supermarkets, monthly bills, sports and leisure expenses, rent and property purchase, transportation and tuition in nurseries and private schools.
Limassol proved to be the most expensive, mainly due to the high rents and the cost of buying an apartment. (In 2018 ‘Limassol for All’ staged a protest outside the Limassol District Administration office on Anexartisias Street against the high rents in the city.)
The full results of the cost-of-living survey may be found results on the Philenews website. Here’s a summary of their findings for property prices and rents:
Apartment purchase prices/sqm.
City centre
- Nicosia € 1,500
- Limassol € 2,883
- Larnaca € 1,575
- Paphos € 1,700
- Famagusta (No data provided)
Outside the city centre
- Nicosia € 1,233
- Limassol € 2,011
- Larnaca € 1,066
- Paphos € 1,466
- Famagusta (No data provided)
Apartment rental prices/month
One bedroom city centre apartment
- Nicosia € 525.19
- Limassol € 808.33
- Larnaca € 532.14
- Paphos € 401.33
- Famagusta (No data provided)
One bedroom apartment outside the city centre
- Nicosia € 444.23
- Limassol € 671.96
- Larnaca € 425.00
- Paphos € 323.46
- Famagusta (No data provided)
Three bedroom city centre apartment
- Nicosia € 891.30
- Limassol € 1,375.86
- Larnaca € 923.29
- Paphos € 687.50
- Famagusta (No data provided)
Three bedroom apartment outside city centre
- Nicosia € 774.79
- Limassol € 1,134
- Larnaca € 756.85
- Paphos € 586.54
- Famagusta (No data provided)
Conclusions
The survey concluded that the monthly cost of living (excluding rent) for a family of four was €2,620.98 in Limassol, €2,617 in Nicosia, €2,410.61 in Larnaca and €2,087.46 in Paphos.
If this is the case why does government ignore the increase of minimum wage :: can you explain to me if an employee earns €900 how can they survive?
It’s the same everywhere, the minimum wage isn’t enough for those living in expensive areas.
What is the rent for. A two bedroom apartment?
The rent for 2-bedroom apartments hasn’t been surveyed.