No doubt you would like to try to estimate how far your Cyprus pounds (currently worth around GB£1.18 and €1.72) will stretch and how much money (if any) you will have left after paying your bills.

The cost of living is relatively low in Cyprus, with prices around 25 per cent lower than in most northern European countries. Limassol was recently highlighted as one of the five least expensive cities in Europe. As expected, prices have risen slightly since the country’s EU accession, and a survey carried out by the Cyprus Consumers’ Association in 2004 showed that prices had risen on average by 1.6 per cent since then.

According to the results of the Cypriot government’s Household Budget Survey 2004, average monthly outgoings for a single person are CY£647, for a couple CY£970 and for a couple with two children, CY£1,358. A couple owning their home can live fairly comfortably on a net income of between CY£6,000 and CY£7,000 per year (many pensioners live on less).

It’s obviously difficult to calculate an average cost of living, as your expenditure depends on your circumstances and lifestyle. Shopping for expensive consumer goods such as hi-fi equipment, electronic goods, computers and photographic equipment, for example, is generally better value than in many other European countries and North America, with many well known brands available in shops in the main towns. The difference in your food bill, on the other hand, will depend on what you eat and where you lived before coming to Cyprus.

Food is cheaper than in most northern European countries and around CY£250 will feed two adults for a month, including (inexpensive) wine, but excluding luxuries like fillet steak, caviar and imported delicacies. Local wines and spirits are good value and eating out is affordable, a meal for two averaging CY£25. It’s a good idea to avoid the tourist areas, where prices are higher than average. The Consumers’ Association publishes The Cyprus Good Food Guide, which is updated annually and includes information on eating out and restaurants which offer good value.

Consumer publications from the UK, US and Ireland are available at the CA’s reading library in Nicosia (Tel. 22-516 112–4, www.cyprusconsumers.org.cy).