Thursday 12 July 2018

Cost of living ...

There are often enquiries from people living in the UK about the relative cost of living in Cyprus, especially from those who are planning to follow in our footsteps. There is no doubt we enjoy a much higher standard of living here than we would have done if we had remained on the Sussex coast.

Housing is one of the key issues. The Cyprus property market is, and has been for years, a dark place where you must be on your guard against the mafia of dodgy property dealers and their tame lawyers. Many, many people have bought property and found, when trying to get their title deeds, that the developer has remortgaged their land to fund his next building project. Property prices have fallen dramatically since 2008, and we have met a considerable number of people who are trying to sell (at a loss) and then move into rental property.

It is calculated there are 50,000 empty properties in Cyprus and more are being built every year. On the other hand rental properties are plentiful and incredibly good value. We rent a two-bedroomed bungalow, with a large garden and a pool, for under £500 a month. Astonishing. If you are planning to buy, rent first for at least a year. Many people we know are on their second or third rental. They find noisy dogs, nosey neighbours or dreadful landlords. And then, on the second or third attempt, they hit the jackpot.

Everyday items are either very expensive or ridiculously cheap. Fresh fruit and vegetables are literally given away, alcohol and tobacco are at least half the price of those in the UK, eating out is very cheap and your money stretches a lot further. The equivalent of Council Tax here is a fraction of what we paid in the UK. Water is about €7,00 a month. Electricity is expensive although bottled gas is a quarter of the UK price. If you buy British goods, rather than their Cypriot equivalent, you will pay a substantial premium.

Roads are almost empty, although driving standards are haphazard. Petrol is cheaper, as is diesel, although second-hand cars cost a lot more than you would expect. But cars do not rust. Public transport is cheap (buses charge €1,50 a journey) and I wouldn’t get inside a Cypriot taxi if I had a choice. There are no trains.

All in all we find that our money goes so much further, and the quality of life is superb. Despite the criticisms of the public hospitals, our care has been excellent. Do factor into your costs that, if you are not in receipt of a State Pension, you must have private health insurance and that is not cheap.

Come on in ... the water is lovely.

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