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| Photo courtesy: Drone X FB |
Living costs are 25.4% higher than in Nicosia once rent is included, with a central three-bedroom apartment averaging €2,317 a month.
Life in Limassol is not just more expensive on paper—or in the minds of Cypriots. The figures now confirm that living in the coastal city costs more than living in the capital, with housing creating the biggest burden.
The difference is most obvious in rents and property prices, but it can also be seen in the cost of groceries, drinks, clothing and, of course, eating out.
Limassol costs more across the board, from €2,317 rent for a central three-bedroom apartment to €84 monthly gym fees, compared with €1,525 and €66 in Nicosia.
Living in Limassol may be more expensive, but average monthly salaries in the city are also higher, helping to offset some of those steeper prices.
The real problem is often faced by people who work in Nicosia but live in Limassol. They must cover Limassol’s housing costs, either through rent or mortgage payments, without necessarily receiving a Limassol-level salary.
According to Numbeo, the average monthly net salary in Limassol is €2,374. In Nicosia, it is listed as €1,637—45% lower.
Numbeo gives Limassol a cost-of-living index score of 64.53, compared with 58.57 for Nicosia.
The widest gap between the two cities, however, is found in housing.
The average rent for a one-bedroom apartment in central Limassol is €1,358 a month, compared with €729 in central Nicosia. That makes Limassol 86.2% more expensive.
The picture is similar outside the city centers. A one-bedroom apartment costs an average of €1,194 a month in Limassol, compared with €622 in Nicosia.
For families looking for a larger home, the figures become even harder to swallow.
A three-bedroom apartment in central Limassol costs an average of €2,317 a month, compared with €1,525 in Nicosia—a difference of more than 50%.
Moving outside the center does not exactly rescue the family budget. A three-bedroom apartment costs around €1,812 a month in Limassol and €1,188 in Nicosia, with the gap again standing at just over 50%.
Rents are already painful in Nicosia, but they are even more punishing in Limassol. Buying a home is no easier, as prices per square meter have risen sharply in both cities—and particularly in Limassol.
Property in central Limassol costs an average of €4,647 per square meter, while the equivalent figure in central Nicosia is €2,763, according to Numbeo.
Outside the center, buyers can expect to pay around €3,472 per square meter in Limassol, compared with €2,041 in Nicosia.
There is, however, a small piece of good news for Limassol homebuyers. Numbeo lists the average interest rate for a 20-year mortgage at 3.9% in Limassol, compared with 4.71% in Nicosia.
Digging deeper into your pocket
The main findings can be summed up fairly simply.
Excluding rent, the cost of living in Limassol is 11.5% higher than in Nicosia. Once rent is added, the gap rises to 25.4%.
Eating at restaurants in Limassol costs 17.5% more, while grocery prices are only 4.1% higher.
Limassol’s local purchasing power is 11.5% higher, largely because of the technology and ICT companies operating in the city.
A meal at a relatively inexpensive Limassol restaurant costs around €20 per person, compared with €15 in Nicosia.
Dinner for two at a mid-range restaurant costs about €70 in Limassol and €60 in the capital. Fast-food prices are roughly the same in both cities, as are the prices of alcoholic drinks such as beer.
Coffee costs slightly more by the sea. The average cappuccino is €3.41 in Limassol, compared with €3.17 in Nicosia.
A 330ml soft drink costs €1.75 in Limassol and €1.60 in Nicosia.
There are also differences in the prices of milk, bread and rice, although these are relatively small. The picture for clothing is mixed, with some brands cheaper in Limassol and others cheaper in Nicosia.
Taxis are another area where Limassol comes out more expensive.
The starting fare is €8.50 in Limassol, compared with €5.60 in Nicosia. The rate per kilometer is €1.93 in Limassol and €1.74 in the capital.
Even keeping fit costs more. Numbeo puts the average monthly gym membership at €84.40 in Limassol, compared with €66 in Nicosia.
