# Cost of Living



## RMcC (Dec 31, 2013)

Hi - We are seriously considering moving to Cyprus but would like to know the cost of living and a realistic figure to live on,
Both my wife and I do not hit the retirement age for another 6 years and will not have the state pension, We would plan to live on income from a private penion of circa £22k, could someone please let me know if this will provide a comfortable living in Cyprus?


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## Veronica (Apr 5, 2008)

In short, yes that is enough to have a good standard of living here even if you had a rent to pay out of it.


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## RMcC (Dec 31, 2013)

Veronica said:


> In short, yes that is enough to have a good standard of living here even if you had a rent to pay out of it.


Many thanks and that is really good to hear - we will not be paying rent out of that sum but should be able to pay our rent from the rent we get for our UK property.
Looking forward to another holiday in Cyprus this next month.


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## Veronica (Apr 5, 2008)

If your UK property will cover your rent here you can have a very good lifestyle here.


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## RMcC (Dec 31, 2013)

Veronica said:


> If your UK property will cover your rent here you can have a very good lifestyle here.


Many thanks


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## Rema (Aug 12, 2012)

HI there,

I recently posted a reply about cost of living so have copied it to your thread as you may not have seen it.


This is always going to be an issue as one persons required standard of living will not be like another persons.
One (much overlooked!) thing to take into account is the length of time people have been here.
Newcommers inevitable will spend more on 'setting up costs'. This can be anything from pieces of furniture, things for the kitchen, outdoor clothing, etc. These are usually one off costs but they can mount up in the early days until you settle into things.
Another point is that until you find your way around the shops one always seems to spend more, especially on groceries. Folk who have lived here for some time probably have all the things they need and have discovered the best (cheapest) places to go for what they want. They, given a similar lifestyle expectation, can most likely do it on a lower budget.

We have kept a record of every € we spend and on what (not out of stinginess but as an experiment in cost of living) since Jan 1st this year. So far the weekly average looks a little high but then we have used a lot of gas and electricity over the winter so these costs will drop significantly in coming weeks and therefore the weekly average will drop. We also bought some furniture for the second bedroom a bbq and did some planting out in the garden.
As we own our place we obviously don't have rent to worry about, a big slice of income for some people so, that aside, at current spend rates I estimate we will need in the order of €20k per annum to live a very, very comfortable life. That figure will come down as winter expenses and the remaining one-off discretionary purchases drop off, perhaps to as low as €15k per annum.
I hope you find this helpful.


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## RMcC (Dec 31, 2013)

Rema said:


> HI there,
> 
> I recently posted a reply about cost of living so have copied it to your thread as you may not have seen it.
> 
> ...


Rema

Thanks very much for this information, it is extremley helpful. I fully expect to have a spike in spending in the first few months as we make the required purchases required to make us comfortable(car being the biggest outlay - any pointers here would be appreciated).
The excercise you have undertaken to get an accurate indication of spend is a good one and could help us in our first 6-12 months.
We visit Cyprus most years on Holiday and always book a small villa in one area and an apartment in another - this gives us a good idea of areas we may like to settle and the cost of food in the shops.
Very helpful, many thanks and we are looking forward to our 2 weeks in Cyprus next month.


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## Rema (Aug 12, 2012)

RoyMcCombe said:


> Rema
> 
> Thanks very much for this information, it is extremley helpful. I fully expect to have a spike in spending in the first few months as we make the required purchases required to make us comfortable(car being the biggest outlay - any pointers here would be appreciated).
> The excercise you have undertaken to get an accurate indication of spend is a good one and could help us in our first 6-12 months.
> ...


Best of luck to you.

We have been here for a year now and are enjoying life to the full. 
The first six months though were very expensive as we were setting up our home and decided to buy new stuff rather than import things. We thought a new home demanded a new approach, out with the old and in with the new! Now things have settled down we are happy we made this decision but accept that maybe others would not be in a position to do the same.


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## RMcC (Dec 31, 2013)

Rema said:


> Best of luck to you.
> 
> We have been here for a year now and are enjoying life to the full.
> The first six months though were very expensive as we were setting up our home and decided to buy new stuff rather than import things. We thought a new home demanded a new approach, out with the old and in with the new! Now things have settled down we are happy we made this decision but accept that maybe others would not be in a position to do the same.


Thanks

It could be a year or so before we finally make the move and I just want to do a lot of fact finding first - healthcare is a big concern as we are both 60year old and dont qaulify for free care.
We will not be buying a house so our expenditure will be more for minor items to set us up in a little more comfort to the kit supplied in a rented property.
I find this forum a really good source of info and very helpful to hear from those people who are living their dream!!


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## Veronica (Apr 5, 2008)

Yes, the initial phase is always more expensive. If you are renting you may not be entirely happy with the level of furnishings etc and want to buy some stuff of your own. Not eveyone can afford to do that of course.
Once you are settled and have all the neccessities, most people will agree that 12-15k is enough to live on if you don't want to eat out every night.

What suits one isn't what suits everyone and we all cut our cloth according to our purse.
What I can say unequivocably is that once you are settled, you can have a far nicer life here than you would have for the same amount of money in the UK.


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## RMcC (Dec 31, 2013)

Veronica said:


> Yes, the initial phase is always more expensive. If you are renting you may not be entirely happy with the level of furnishings etc and want to buy some stuff of your own. Not eveyone can afford to do that of course.
> Once you are settled and have all the neccessities, most people will agree that 12-15k is enough to live on if you don't want to eat out every night.
> 
> What suits one isn't what suits everyone and we all cut our cloth according to our purse.
> What I can say unequivocably is that once you are settled, you can have a far nicer life here than you would have for the same amount of money in the UK.


I have no doubt we will have a better standard of living in Cyprus, we have really enjoyed every holiday we have taken and always feel at home when in Cyprus.
Really looking forward to the time when we can finally make the move. The biggest concern I have is health care provision until I reach pension age and we can both get free health care( I am aware it is not all free)

I am aware you are not permitted to advertise on the site but are you able to advise on the best letting agency - we intend renting a villa in the Paphos area.


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## Rema (Aug 12, 2012)

RoyMcCombe said:


> I have no doubt we will have a better standard of living in Cyprus, we have really enjoyed every holiday we have taken and always feel at home when in Cyprus.
> Really looking forward to the time when we can finally make the move. The biggest concern I have is health care provision until I reach pension age and we can both get free health care( I am aware it is not all free)
> 
> I am aware you are not permitted to advertise on the site but are you able to advise on the best letting agency - we intend renting a villa in the Paphos area.



Healthcare can be an issue, especially if you have a prior condition or ongoing health care requirements.
As a guide, my in patient only policy cost almost €900 and I'm 62 in good health with no prior conditions. I intend to shop around before renewal to see if I can get a better quote.


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## RMcC (Dec 31, 2013)

Rema said:


> Healthcare can be an issue, especially if you have a prior condition or ongoing health care requirements.
> As a guide, my in patient only policy cost almost €900 and I'm 62 in good health with no prior conditions. I intend to shop around before renewal to see if I can get a better quote.


Thanks, that cost is a good guide to work from. I have been informed I may be able to get cover for a coulple of years paid by NHS in UK, still looking into that. Is it best to get quotes in Cyprus or from here in the UK before we move?


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## Veronica (Apr 5, 2008)

We pay about €120 per month for both of us. We have an €800 excess which is what it would have cost us extra per year without the excess. We have never had to pay out that much in a year so having the excess does represent a saving on the premium.
We are entitled to use the state healthcare but prefer not too if we can possibly manage as it like a cattle market.


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## RMcC (Dec 31, 2013)

Veronica said:


> We pay about €120 per month for both of us. We have an €800 excess which is what it would have cost us extra per year without the excess. We have never had to pay out that much in a year so having the excess does represent a saving on the premium.
> We are entitled to use the state healthcare but prefer not too if we can possibly manage as it like a cattle market.


€120 per month sounds pretty good, is that with a local company? we both require meds each month, do we have to purchase these and can we get a prescription from a private doctor?


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## Veronica (Apr 5, 2008)

We are with Prime insurance. As you are younger than us it would be less for you.
You can get insurance which covers you for everything including medication but that can be prohibitively expensive.


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