5 Reasons to Move to Cyprus

The Republic of Cyprus is an increasingly popular destination for those seeking an idyllic overseas home.

23:01 30 March 2023

The Republic of Cyprus, the third-largest and third-most populous island in the Mediterranean, is an increasingly popular destination for those seeking an idyllic overseas home. In recent years, with an improving economy, a competitive cost of living, and excellent access to health care services, Cyprus is quickly becoming the go-to destination for those looking for quality of life. Here are five of the main reasons for why you should consider a relocation to this sunny island.

Reason 1: Affordable Cost of Living

Cyprus has a lower cost of living than most of its European counterparts. Prices of essential goods and services as well as properties for sale in Paphos are competitive, so it has become an attractive destination for expatriates on a budget. The minimum wage in Cyprus is €690 per month, with an average of €1387 according to EOS Data. This, combined with competitive prices on groceries, healthcare, and entertainment, make Cyprus one of the most affordable countries in the region. Furthermore, with a growing job market, job seekers will find plenty of options when it comes to finding employment.

Reason 2: Relatively Stable Economy

The economy of Cyprus has been steadily increasing in recent years, and the unemployment rate has been on a downward trend as a result. In 2019, the economy of Cyprus increased by 3.2%, and the unemployment rate fell from 7.7% in 2018 to 6.7% in 2019. This indicates that Cyprus is a relatively stable economy that is on a growth trajectory. The low level of debt and well-functioning financial system also gives Cyprus a certain degree of economic protection from external threats. Furthermore, the government has incentivised foreign investors with various tax breaks in order to attract new businesses and investments.

Reason 3: Variety of Cultural and Natural Attractions

Cyprus is an island with a rich cultural and historical heritage and a variety of attractions. With its stunning beaches, breathtaking natural landscapes, and vibrant history, there is something to pique the interest of everyone. One of the most popular tourist spots is the ancient city of Paphos, which is considered by many to be the birthplace of Greek goddess Aphrodite. Visitors to the area can explore ancient ruins, go scuba diving, or simply enjoy the warm climate and laid back atmosphere.

Reason 4: Health Care System

Cyprus has an excellent health care system, with high-quality medical treatments at relatively low costs. The public health care system offers comprehensive coverage, with a wide variety of services covered. This includes preventive care and coverage for hospitalization and medical visits. Additionally, for those looking for private medical care, Cyprus offers a wide variety of world-class private hospitals that are affordable.

Reason 5: Strategic Location

Cyprus is strategically located in close proximity to major European cities. With easy access to the European Union, many cities are only a few hours away by air. This makes it an ideal destination for tourists, and many international companies have opened offices in Cyprus in order to capitalize on this convenient location. It is also only a short distance away from Asia and Africa, which increases the potential for connectivity and trade.

Conclusion

For those looking to move abroad, the Republic of Cyprus is quickly becoming one of the top destinations. With an increasing economy, competitive cost of living, and excellent access to quality health care, it offers an ideal combination of affordability and quality of life. Additionally, its strategic location and variety of cultural and natural attractions make it an attractive destination for tourists and expats alike. From the stunning beaches to the vibrant culture, there are plenty of reasons to consider relocating to Cyprus.