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The cost of living in North Cyprus

09 March

People planning to emigrate to Northern Cyprus are primarily interested in the questions: 

  • how high is the standard of living on the island?
  • what is the average cost of living?

 

The standard of living consists of various factors: real estate, taxes, utilities, food prices, medical services, and education. Given the differences in the definition of a normal life, it is sufficient to list the main costs. 

 

It is difficult to find official statistics on the standard of living of Northern Cyprus since it is not recognized as a separate state. Only Turkey officially recognizes this state, so the Turkish lira is the main currency in the country. But every store accepts dollars, euros and pounds sterling.

 

Consider the main living costs:

  • Buying a property. A large selection of real estate with affordable prices and the possibility of a long installment plan and on credit. Loyal tax system: once a year, a tax on real estate is levied, 0.15 euros per 1 square meter.
  • Rental Property. A two-room apartment can be rented from € 350 to 500. One-room apartment from € 250 to 300 per month, and a studio from € 150. Many property owners require to pay the rent in advance for 2-4 months.
  • Utility bills in a small apartment for two cost approximately € 100-150 per month. 
  • Food basket. On the island, the quality of products is very high, and the price is much lower than in European countries. It is especially true for fruits, vegetables, and seafood. Such supermarkets as Lemar, Starling, Tempo`s, Bektas, Ileli are popular. There are also daily and weekly markets where you can buy the freshest produce. A food basket for a family of two will cost € 250-300 on average.
  • Transport. A car is vital on the island, as public transport is poorly developed. For example, buses run between major cities 1-2 times a day. A trip by public transport is determined by the distance: 50 km – about 4. The taxi operates at fixed rates. A trip around the city will cost 5-7, outside the city 10-15.