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28th January 2023
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HomeProperty PricesLimassol most expensive city, Larnaca next

Limassol most expensive city, Larnaca next

Limassol is the island’s most expensive city, as Limassolians need to spend hundreds more euros monthly than residents in other towns every month to live.

According to Numbeo data, compiled by Phileleftheros daily, a Limassol-based family of four needs around €4,239.46 a month to make ends meet, with at least €1,600 going towards rent or a mortgage instalment.

Numbeo is a Serbian crowd-sourced global database of perceived consumer prices, crime rates, and healthcare quality, among other statistics.

Renting a one-bedroom apartment in Limassol could cost €961 if it is located in the suburbs or surrounding villages to €1,315 in an uptown area.

A person living alone in the coastal city would need another €819 to make it through the month.

On average, renting a three-bedroom apartment costs a family from €1,844 to €2,364.

Surprisingly, Larnaca is the second most expensive city, despite rents being significantly lower than Limassol.

According to Numbeo, rents in Limassol are 64.98% higher than those in Larnaca; however, the cost of living is just €500 less.

A four-member Larnaca family must dish out €3,723 monthly for rent and other necessities.

On average one-bedroom flats in Larnaca, according to Numbeo, range between €586 and €803, while a three bed-room apartment rents between €1,065 to €1,478, according whether it’s in the town centre or up-market area.

Larnaca is 12.9% more expensive than the capital Nicosia, which comes third on the list of most expensive places to live in Cyprus.

Nicosia rents are 51.43% cheaper than those in Limassol.

One-bedroom flats can be rented at an average of €497 per month, while those in the centre are around €610.

Three-bedroom apartments range from €876 to €1,167.

Paphos is the cheapest town to live in, as a family of four needs €3,000 monthly to make ends meet.

Rents for one-bedroom apartments range from €500 to €700, while three-bedroom flats are between €1,000 and €1,173.

Although rents are slightly higher than the capital, the cost of food and other necessities is 11.34% lower.

Compared to Limassol, Paphos restaurants are 20.96% cheaper.

Eating out in Paphos would set a couple back €40, while the same three-course meal would cost €50 in Nicosia and Larnaca and €60 in Limassol.

Paphos is also cheaper when it comes to fees for kindergartens, as the average cost for a pre-schooler at a private school is €240. In Nicosia, it rises to €333, in Larnaca to €357 and €419 in Limassol.

It is not only the cost of living that varies according to location, as salaries also vary.

The highest average monthly salary was recorded in Limassol (€1,492), followed by Nicosia with €1,375, and Larnaca with €1,231. The average salary in Paphos was €1,167.

Famagusta was not included in the survey due to lower data available from the district.

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