Greece and Cyprus are a few of the most popular retirement destinations. People often decide to move to one of these two countries to enjoy their retirement life. Both countries have a range of attractions for retirees. From a peaceful environment to stunning beaches, you get everything to have a smooth living experience.
Pafilia is the leading construction company in Cyprus with various international awards. They also help you obtain Cyprus residency through investment. When people consider obtaining a new residency, they usually compare the living costs. If you are planning to get Cyprus residency through Pafilia, you have come to the right place.
In this article, we will try to compare the cost of living in both countries. Furthermore, we will highlight the benefits of each country.
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Cost of Food
Food is the most basic need of every human. Without any second thought, you need healthy food regularly to survive.
When we compare the food expense in Cyprus and Greece, the latter has the advantage. The difference is very small, but you spend more on food in Cyprus. On average, it cost about 13.1 dollars to have lunch at a restaurant in Cyprus. On the other hand, you only need 11.6 dollars to enjoy lunch in Greece. A dinner for two costs 47.6 dollars in Cyprus and 36 dollars in Greece.
Furthermore, you have to pay 1.56 dollars for a half-liter Pepsi or Coke in Cyprus as compared to 2.02 dollars in Greece. A cup of cappuccino cost 3.35 dollars in Cyprus while 3.57 dollars in Greece. If you are a fan of Beer, you will save a lot in Cyprus. So, Cyprus has a little advantage over Greece in terms of drinks. When you decide to get a Cyprus residency, you have to keep these factors in mind.
Cost of Transportation
If you love to travel, you are probably concerned about transportation as well. As compared to Greece, Cyprus offers cheap gas. You can get 1 liter of gas for 1.33 dollars in Cyprus while you have to spend 1.8 dollars for 1 liter in Greece.
Since most of the people have their personal vehicles in Cyprus, public transport is not in high demand. This is probably the reason why local transport in Cyprus costs more than in Greece. The monthly ticket for local transport costs you 48.7 dollars in Cyprus. However, you need only 40.6 dollars for the monthly ticket in Greece.
Cost of Education
Education is extremely important for humans. Humanity has come this far just because of education. If you have kids who need to attend a school, you probably love to get a Cyprus residency.
Education is cheaper in Cyprus as compared to Greece. And we are talking about international primary schools. You need 6701 dollars for one year of education in Cyprus as compared to 7256 dollars in Greece.
Cost of Sports and Leisure
When you compare sports and leisure expenses, Greece has a slight advantage over Cyprus. From cinema tickets to gym membership, you have to pay a little more in Cyprus. Greece offers you cheap entertainment.
However, if you are a nature lover, you probably love to get a Cyprus residency. It offers more natural beauty and is easily accessible. Regardless of where you live on the island, you can easily reach a natural site within 30 minutes maximum.
Cost of Rent and Utilities
If you are planning to live in Cyprus, you have to pay more rent as compared to Greece. However, you will save on utilities. From water to electricity, utilities are cheaper in Cyprus.
Living in a rented 3 bedroom apartment Downtown cost you 1030 dollars in Cyprus. However, if you choose the same apartment in Greece, you will pay 628 dollars only. Hence, it is advised to buy a property in Cyprus. It will save you a lot of money. If you don’t plan to live in the property immediately, you can generate a lot of money through rent.
If you want to buy a property for sale in Paphos, Cyprus, Pafilia is the best company.
Cost of Properties
When it comes to buying a property in Cyprus or Greece, you need to spend an equal amount of money. Greece is slightly cheaper than Cyprus if you want to live in the city center. If you want to buy property for investment purposes, Cyprus is the best option. The island is a hot destination and offers better returns.
Cost of Clothing
In terms of clothing expenses, Cyprus is costlier than Greece. For regular Levi’s brand jeans, you have to spend 93.40 dollars in Cyprus. However, you can get the same jeans for 84.75 dollars in Greece.
Furthermore, a pair of Nike or Adidas shoes cost you 88.46 dollars in Cyprus. On the other hand, it cost only 85.48 dollars in Greece. If you want to buy men’s business shoes, you need 107 dollars in Cyprus while 108.82 dollars in Greece.
Conclusions On Cyprus Residency vs Greece Residency Cost of Living
Are living expenses in Cyprus cheaper than in Greece? The answer is no. Cyprus and Greece have almost similar costs of living. Both countries have some advantages and disadvantages.
When you get Cyprus residency and start living there, you will understand how to save money. Most local food and items are cheaper than in Greece. However, if you go for imported products, you need to spend more.
If you buy a property in Cyprus and don’t have to pay rent, you will have a clear advantage. You will be saving a lot of money. The major difference between both countries is rent charges. You can overcome this problem if you buy a property. Thankfully, banks offer mortgages to locals and foreigners without any concern.