Is Cyprus a proper destination to retire?

Cyprus has always been a popular retirement destination for Europeans and North Americans. With its year-round sunshine, Mediterranean atmosphere, and low cost of living, it is easy to see why many retirees choose to spend their golden years in Cyprus. But is Cyprus really the best place for retirees? In this blog post, we will look at some pros and cons of retiring in Cyprus. Keep reading to find out more!

Pros

Low cost of living

Cyprus is a budget friendly country that offers great opportunities for living off retirement savings. The cost of living in this region isn’t too high as compared to other European countries and the UK, which means your money will go much further when you live there!

In Cyprus, you will pay 2.59 pounds for a beer, as opposed to 3.70 pounds in the United Kingdom. In the UK, monthly public transport cards cost 65 pounds; in Cyprus, they only cost 35 pounds. You may also dine for less money at a good quality.

Affordable properties

Cyprus is a much more affordable destination for investing in a house, than many other European countries. The average property cost in the country, when compared to England, can be 65% lower. While rentals may be more expensive, they are still more affordable than in the UK, and you can find something that suits your needs easily.

Good quality of life

If you enjoy a high quality of life, Cyprus is the right destination for you. You will find excellent weather, fresh air, and beautiful nature. The Cyprus lifestyle combines a laid-back atmosphere with warm hospitality and friendly people. The island has a lot to offer for those who want an escape from the hustles and bustles of everyday life. From traditional villages that date back centuries, to green forests and beautiful beaches, Cyprus has it all.

Gorgeous environment and great weather

Cyprus is a beautiful island that offers an escape from the cold for people who wish to enjoy stunning beaches. You can spend as much quality time at the sea as you want, with over 300 days of sunshine each year.

Cons

Lack of public transport

One of the negative aspects to Cyprus is that it is quite difficult to get around without a car. The local transport consists of buses and taxis only, there are no trains. Many destinations can only be reached in a taxi or if you drive yourself.

Crowded tourist areas

During summer, you should expect a lot of tourists. Cyprus’ beaches are a popular holiday destination, which means there will be a lot of competition for space and locations, where many hotels are located. If you don’t like crowded places, it’s best to avoid the summer tourist sites in Cyprus.

Rainy winters

Cyprus is recognized for its beautiful weather and sunshine throughout the year. However, the winter, on the other hand, brings heavy rains to the island, especially in January and February, which are months when it is particularly wet. The good news is that temperatures remain warm enough to enjoy your stay.

The benefits of living on an island paradise with low taxes, fantastic weather, and excellent healthcare services outweigh the negatives for many retirees.

Additional information

Pension

Cyprus recognizes UK citizens’ pensions, which makes it easy to transfer it from your home-country to the island. However, there might be a difficulty because Cyprus does not have qualifying recognized overseas pension schemes. Thus, before moving, check out your pension status!

Healthcare

Healthcare on Cyprus isn’t completely free. The government, however, subsidizes the cost. Personal medical insurance is also an option.

Driving License

If you are a European citizen, your license is valid on the island. UK residents, on the other hand, must obtain a local driving license to drive in Cyprus.

Property

Almost anyone can buy a house in Cyprus. Still, non-Europeans first obtain a permit first. In addition, non-citizens are only allowed to purchase one house, apartment, or acre of land. Therefore, many people apply for a residence permit so that they can buy more properties.

Residency

Apart from investing in real estate in Cyprus, there are alternative ways to get a residency. You may stay for five years on a temporary visa and then apply for permanent residency.

Most popular places for pensioners

Paphos

The vast majority of foreigners buy a property in Paphos to enjoy their retirement on the island. With an expat community that outnumbers locals, many people prefer this coast! Summertime here is great not just because you get sunny weather, but also due to attractions like beachfront properties with scenic views.

Limassol

Limassol is a city that has everything. From modern architecture and facilities to exciting nightlife and entertainment options – there is something for everyone here! What expats appreciate most are the many luxurious properties this city has to offer.

Larnaca

If you are looking for an escape from the tourist crowds, Larnaca is the right place. With a gorgeous beach and a peaceful environment, this city is perfect for those who want to experience true Cypriot culture.  You can enjoy a calm atmosphere while still being relatively close to the city of Limassol.

Conclusion: What do you need?

Ultimately, it comes down to your own personal preferences and needs. Whether you are considering retirement in Cyprus alone or with your family, we hope this article has helped shed some light on some pros and cons of retiring there. If you can overlook the disadvantages and are still interested in Cyprus residency, then go for it!