The economics of Nicosia highly depends on tourism, financial services, marine industry, and food manufacturing.
Nicosia is the capital city of Cyprus and of the partially recognized Turkish Republic of Northern Cyprus.
This is one of the richest cities in the Eastern Mediterranean area.
The most trendy business in Nicosia is shipping traffic, although the nearest seaport can be found in Limassol.
A great number of offices, as well as the headquarters of the large companies, are situated here.
What can a person need the most to live?
Water in Nicosia costs $0.64 for a small bottle or 12 oz.
An alternative like Coke or Pepsi, or imported beer if you like, is $1.38 and $4.02 respectively.
The price for a cappuccino that you normally drink is $3.48 per cup.
|Average Restaurant Prices|
|Meal (Inexpensive Restaurant)||$ 13.78|
|Domestic Beer (0.5 Liter)||$ 4.02|
|Water (0.33 Liter)||$ 0.64|
Unprocessed food is the inescapable thing that people in Nicosia need to live.
This type of food can be found at the markets for a hardy fair price.
One pound of white rice costs $1.53, fresh fruits and vegetables are worth less than a dollar per pound.
Potato and onion do not exceed the price of $0.30/lb.
The bottle of good Nicosian wine is $7.46 on average.
|Average Market Prices|
|Milk (1 Liter)||$ 5.77|
|Loaf Bread (500g)||$ 1.53|
|Eggs (12)||$ 2.91|
One hour of waiting in a taxi cabin costs $22.97, while the taxi start is worth $4.02 and the cost per mile is not less than $1.35 at the normal tariff.
The auto dealers are always ready to help you choose the best car to drive in Nicosia.
A new Volkswagen Golf or an equivalent car costs $21,244.20 on a par.
Toyota Corolla 1.6l or similar can be got by $20,670.03.
|Average Transport Prices|
|One Way Ticket||$ 1.72|
|Monthly Pass||$ 45.93|
Every month the Nicosians receive bills for water supply, electricity, garbage collection, Internet and the mobile phone.
If you are a part of the society, be ready to pay as much as $126.04 for the main utilities.
Internet at the unlimited tariff which is transferred through cable or ADSL is $43.97.
The mobile connection with the relatives is fixed rated and makes only $0.10 per minute without any plans or discounts.
|Average Utilities Prices|
|Basic (Water, Electricity, Garbage, Heating, Cooling)||$ 126.04|
|1 min. of Prepaid Mobile Tariff Local||$ 0.10|
|Internet (Unlimited Data, Cable/ADSL)||$ 43.97|
SPORTS & LEISURE
One-time going to a fitness club in Nicosia is worth the price $59.23 if only you are not a tennis fan.
The weekend match on the tennis court costs $22.82 per hour on the average.
The cinephiles can ignore the mentioned information since 1 seat in the Nicosian cinema goes for $10.27 only.
|Average Leisure Prices|
|Fitness Club, Monthly Fee for 1 Adult||$ 59.60|
|Tennis Court Rent (1 Hour)||$ 22.97|
|Cinema, 1 Seat, International Release||$ 7.34|
CLOTHING & SHOES
Who would have ever refused to go shopping in the capital city in Cyprus?
It’s an unforgettable error to miss the chance to open the doors of the local shops and popular boutiques in search of stylish clothes and shoes.
A pair of regular jeans like Levis 500 or so costs $76.21, a Zara summer dress is $43.57 and men leather business shoes are worth $102.71.
|Average Clothing Prices|
|1 Pair of Jeans (Levis 501 Or Comparable)||$ 76.69|
|1 Summer Dress in a Chain Store (Zara, etc...)||$ 43.85|
|1 Pair of Adidas Walking Shoes (Mid-Range)||$ 76.87|
RENT PER MONTH
East or west, home is best.
Learn the prices for your home in Nicosia right now.
A one-bedroom apartment in the center of the capital is $521.68.
A three-bedroom apartment in the neighborhood is a little bit more expensive – $941.46.
The similar places outside the city are $455.33 (1 bedroom) and $802.62 (3 bedrooms).
|Average Rent Prices|
|Apartment (1 bedroom) in City Center||$ 524.945|
|Apartment (1 bedroom) Outside of Center||$ 458.19|
|Apartment (3 bedrooms) in City Center||$ 946.38|
How Does the Average Person Spend Their Money in Nicosia?
Spending money is burdensome for one people and a great pleasure for the other.
No matter what, you can be among those average persons in Nicosia who spend their money intelligently.
The least sum of money goes to utilities, leaving space for some more pleasant expenditures like markets, restaurants, and transportation.
Some 21.5% of your total monthly income will be spent on the apartment rental.
And the rest can be easily used to do sports, watch movies, or go shopping.
See the chart below to get the idea of money wasting in Nicosia.
Nicosia: Average Salary, Minimum Wage & Mortgages
Every employee in Nicosia has to be paid.
There is no single person who would provide services for free unless they are some kind-hearted volunteers.
Depending on the profession and qualification, the payment might differ.
Still, there’s the fixed official minimum that every boss is obliged to pay out his workers.
In Nicosia, an average monthly salary after taxes is $1,164.74 per month, the minimum salary was $917.1 as of 2018, and the mortgage fee is 3.21% (provided that it is paid every 12 months for 20 years).
Cost of Living by City in Cyprus
*Click the name of the city for more information.
|City||Cost of Living Index|