Many expats living in Cyprus complain about the cost of living now – and a lot of these complaints are due to poor performance of the pound and bad exchange rates. A huge number of expats living there are retirees, and almost all have found their incomes dramatically reduced. A good currency company can be of enormous assistance in getting better exchange rates that your high street bank, so if this affects you perhaps you should check out www.smartcurrencyexchange.com – they are really nice people and may be able to help you reduce this risk by planning in advance.

The cost of living can depend on your lifestyle. If you prefer to eat out a lot and shop for ready-made meals, then yes, your food bills may well be high. But if you eat fresh produce from local growers and support good, family-run restaurants in tourist-free areas you will find your money goes further.

Let’s start with giving you an idea of the cost of food. In the past, when I have written articles on this subject, I would provide figures but just how relevant are these prices today? It used to be that prices remained relatively stable but sadly that has all changed. Over and above actual product price changes, VAT may also change which will of course impact prices.

Pork is always cheap, with chicken more expensive, particularly chicken breasts. Sirloin steak is always pricey…Moving on to fruit and vegetables – you need to buy fresh produce that is in season. The answer here is to find out where the locals shop and to follow their lead. Buy fresh fruit and vegetables in season and grown locally, or grow your own. You may find a neighbour who would be happy to earn a few euros selling you what they grow, or you may want to see if there is a nearby weekly fruit and vegetable market. Perhaps you could find a local farmer who can provide you with poultry, meat and eggs at a reasonable cost too?

There are several well known UK-owned shops in Cyprus that specialise in UK goods and these are usually much cheaper than using local supermarkets for the same product. One example I noticed – but this was quite a long time ago now - was Sharwoods Chicken Tikka sauce. In the supermarket it was over 5 euros but in the UK store it was only 2 euros, quite a big saving and one that’s worth bearing in mind. 

You can also get local sugar, flour and bread and this is always cheaper than imported goods. Remember too that if you smoke, local cigarettes are much cheaper, as are local beers and wines.

Clothes are expensive in Cyprus. It may seem strange as there are the usual UK shops such as Marks and Spencer, Peacocks, Next and so on, but you have to remember that all clothes have import tax slapped on.

Council tax is extremely cheap compared to the UK and there is no television license fee but if you want international TV channels then you will need a satellite service, which costs. Electricity prices are high, in fact some say the highest in Europe, and that’s because there is no competition. Bear this in mind if you are running a swimming pool or an air-conditioning unit. Car tax is really low, with car insurance about the same as the UK.

I am afraid that prices are going up worldwide at the moment, but being in a place that you love may well be worth it to you. Certainly it is to the many expats who have made it their home – and it’s not hard to see why!