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How much does it cost to live in north Cyprus?

purseI’m often asked by people wanting to retire to north Cyprus, ‘how much will I need to live there.’ Back in 2002 it was possible to live on £500pm if you had a villa and a car which needed very little extra money paid on them. This has doubled over the last 7 years mainly because of local inflation but also because of the weakness of  sterling. In the table we have shown three possible scenarios which we call ‘basic’, ‘comfortable’ and ‘well-off’. Basic is for a couple with an £8,000pa pension, comfortable would have £12,000pa made up from either savings or additional pensions and finally, well-off would have £16,000pa. Obviously there will always be couples who have far more income than this but we’ve decided to stick to a ceiling of £16000pa. Of course, the budget breakdowns will be different for individuals, e.g. if you don’t drink or smoke this could save you £1000pa to spend elsewhere.

Hopefully there will be regular articles breaking down these expenses to show how they have been arrived at, e.g. the ‘Grocery Shopping,’ but this depends on the interest. The structure of the table was taken from Martin Lewis’ Money Saving Expert website.

budget

Source:
[1] www.moneysavingexpert.com

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