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Cost traps in Cyprus

Those who emigrate to Cyprus to legally save taxes will encounter numerous cost traps that can quickly destroy the tax amounts saved, these include: 

  • High rental costs
  • Expensive utility costs (electricity, gas, ...)
  • High investment
  • False tax advisors

Trap 1: High electricity costs in Cyprus?

First, there is the issue of electricity. There is only one supplier in Cyprus, no comparison portals like in Germany. There is a fixed price. Electricity in Cyprus is still produced in a very old-fashioned and catastrophic way: oil is delivered by tanker and burned in the power plant. 

Many homes use electricity to heat water in the winter months and the living spaces. Beware. The bill can sometimes skyrocket if you're not careful. It is not uncommon to receive a bill of 300 or 500 euros after two months, for a house with 3 rooms and a pool.

We tell you how you can save several hundred euros a year on electricity.

Cost traps in Cyprus

Trap 2: High water costs in Cyprus

Water bills can also skyrocket, for example bills for water over 600 euros for just three months. How can this be? If your home has a pool, you'll need to top off the evaporated water several times a week during the warm months. Sometimes the pump or the pool also has a leak. Another reason can be a defective water meter, which turns much faster than it is consumed. Here you should talk to the responsible village or city council.

We explain to you what the exponential water bill is all about, how to avoid high costs, and how to efficiently retrofit everything yourself!

Car costs in Cyprus

Trap 3: High vehicle and car costs in Cyprus

A nice German car, in Cyprus? Sure. BMW, Mercedes, VW, etc. are everywhere in Cyprus, even official workshops. Only you should note that the wages are cheaper, but spare parts are much more expensive. For example, a BMW brake disc can quickly cost over 1000 euros. Also already happened: the freshly serviced car comes back with new scratches and a screw in the tire. Tires are quickly mounted again, but cost. Sometimes there is so much garbage and scrap lying around that you can change tires several times a year.

Our portal explains to you what you should pay special attention to when buying a car in Cyprus, and shows which brands are particularly cheap to maintain and, above all, can be sold again quickly.

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Heating costs in Cyprus

Trap 4: High heating costs in Cyprus? 

A house with central heating is worth its weight in gold. Only about 30% of all houses have central heating, but it can get quite cold between December and March, especially in the evenings. The biggest problem, however, is the frequent lack of insulation. Here, the best central heating won't help if the heat goes directly through the single glazing or the uninsulated concrete ceiling. Here, too, you can be surprised with a bill of 700 - 1,000 euros for gas in the winter months.

Our portal shows you tips and tricks on how to avoid high heating costs, which heating options are the most efficient, and how to do everything right already during the property search!

Trap 5: High traffic fines in Cyprus? 

Less of a trap if you follow laws. Nevertheless, parking on the sidewalk can cost 85 euros, exceeding the speed of 20 km / h 80 euros and in Corona times the non-wearing of the mask 300 euros. Significantly more than in Germany. 

We clarify about cost traps in Cyprus. 

Craftsman in Cyprus

Trap 6: High follow-up costs for services?

Whenever you have something made and pre-order - pay a deposit at most! In principle, service providers in Cyprus are very reliable and professional,
Nevertheless, it happens again and again that wrong or defective goods are delivered, and then you have to run after your money.

Our portal shows you what to look out for when choosing a craftsman and presents tested and very good service providers in the exclusive City Guide, some of whom speak German. 

Incidental expenses Cyprus

Trap 7: General investment in Cyprus

This part I myself would not have expected so, and of course the expenditure depends on you, what luxury you want and what quality. We had already mentioned the pellet stove. Despite central heating, it was too inefficient and too expensive.

Our portal shows you what you can do yourself to upgrade as efficiently as possible in Cyprus.

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Our portal accompanies you already from the preparation in Germany, the emigration, the establishment of a Cyprus Limited up to the life on Cyprus with valuable information. 

Cyprus property

Trap 8: High real estate prices

Often one is dazzled by the sea view, the surroundings and the wishful thinking of owning a property by the sea or on a Mediterranean island. The houses on Cyprus are extremely different from the German standard. The architecture is simple, the buildings are often made of steel and concrete and are inferior or not insulated at all. Not infrequently, seawater is used, which later "salts" out of the walls again. Prices are set up to 50% higher than usual.

Another, partly for tenants much more dangerous trap, however, are brokers, whether registered or illegal on the road - we were allowed to meet partly also German couples, who would have added up to 500,00 € per month for themselves on the rental price. How we could still find our 3-room house with panoramic view, pool, veranda and sauna for only 780, - € in the most exclusive location, we tell you in our full article about real estate in Cyprus.

Internet costs Cyprus

Trap 9: High Internet costs in Cyprus

Fast Internet in Cyprus is not yet standard in most of the more rural regions of the country. It can be expensive here if the Internet is only accessible via radio. Fees of €100 for a 100,000 line are the norm here. 

Our portal shows you which providers are the cheapest

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