Cost of living in Northern Cyprus

Cost of living in Northern Cyprus

One of the important factors in choosing a destination country for immigration is the cost of living in that country. Currently, the currency of Northern Cyprus is the Turkish lira. This is despite the fact that financial transactions in this country are easily done in different currencies and the banks and markets of North Cyprus are so-called Multi-Currency. On the other hand, the buying and selling of houses and cars is mainly done based on the British pound. However, house prices in Northern Cyprus are very cheap compared to European countries and even southern neighbors. It should be noted that due to the fact that the main industry of North Cyprus is tourism, the high season in North Cyprus is from April to November, due to the presence of tourists from different parts of the world, the rental rates of residential units, especially in areas Coastline increases sharply. This doubles the attractiveness of real estate investment in North Cyprus. But the total cost of living in North Cyprus is low compared to European countries and even some countries in the Middle East region. Currently, the cost of living for a family of three, excluding house rent, is around 15.500 liras.
It should be noted that in the commercial areas of the big cities of Northern Cyprus, there are various famous brands of clothing, household appliances and cosmetics next to small local stores. Meanwhile, many daily necessities such as fruits and vegetables, beans, grains, proteins, clothes, and clothes can be purchased from the local markets that are run by the municipalities on a weekly basis and at much lower prices.