If you are looking for an affordable holiday home and a cost of living that won’t break the bank, try Cyprus.
Pauline and Chris Stanley have had their two-bedroom apartment in Cyprus a year now they’ve been pleasantly surprised at their outgoings.
Cost of living in Cyprus
They property only costs around £80 a month to run, including all the bills, and eating out at the local taverna rather than in the tourist spots in Paphos saves money. “We can enjoy ‘local rate’ meals at around €20 for both of us,” says Chris, 66, who used to be the driver for a freight company until he retired.
The couple from Dorset appeared on A Place in the Sun earlier this year, and Jasmine Harman helped them find their dream apartment in Peyia, a popular village on the western coast of Cyprus, next to Coral Bay, Tala and Chloraka.
Peyia
Peyia (also spelt Pegeia) is located 14km north of Paphos Town and sits on the steep slopes of the coastal hills inland from Coral Bay at the southern end of the Akamas Peninsula. It’s a popular area for non-Cypriot residents.
Their apartment is in Peyia Cottages, a popular resort of apartment blocks around a central area with a communal pool and landscaped gardens. Two-bed apartments there currently sell for around €115,000 (£100k) – prices have increased since the couple filmed in October 2021. Chris and Pauline are in Cottages B section, which they joke is the ‘poor relation’ to Cottages A. “But we believe we have the best apartment on the complex!” he says.
The purchase process took over six months, but they have loved exploring the area ever since, including the Blue Flag beaches around Coral Bay 3km away, where two sun loungers and an umbrella cost "just €7.50" for the day. “Taxi fares are also set by the government which they are not expensive either.”
They’ve also been up into the Troodos mountains and north into the unspoilt Akamas peninsula, on the western tip of the island. They also love Latchi, a little harbour, and the crystal-clear waters of the Blue Lagoon.
After a year of trips they’ve discovered that flying from Gatwick rather than Bristol also saves money on their flights, and the only slight problem is that the Cypriot government has also decided that communal swimming pools must have a licensed lifeguard, but there’s a bit shortage.
The couple can’t use the pool on their complex just now, until one is found. “There’s an uproar about it and a petition against it with 6,500 signatures [at the time of writing],” says Chris. “If they get the 8,000 the government have to re-assess.”
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What else can you buy in Peyia?
Properties start around the €100k mark and you can find good choice of two-bedroom properties from around €150,000. Townhouses on complexes tend to start around €159,000. A three-bed townhouse costs nearer €300,000, for which you can also find a villa.
Find a modern villa with a private pool for around €350,000 or a five-bedroom, five-bath property for €475,000.
