There are several important decisions you will make over your life: who to take as a spouse, collage, buying a home, and where to live or retire. There are several factors to consider for the last item and high on that list is cost of living.
In raw numbers, North Cyprus compares favorably with most areas around the world. High on the list is Real Estate prices and we talk about that right on this website’s Cheap Property Overseas Page. But there are other items to consider. My last abode in the US was in the Smoky Mountains of Tennessee and the nearest town was Knoxville. There is simply no comparison when it comes to the cost of real estate.
This is from a website called Expatistan and you can see these numbers for yourself here. One item jumps out: Transportation Cost.
The cost of a new car is simply unreasonable and the taxes levied on cars is why - I understand that tax can run as high as a third of the total cost of the automobile. Most Ex-Pats simply buy small, used cars and pay cash. I have a little three cylinder Nissan March and it cost six-thousand Pounds. It was three years old when we got it and we have driven it another five without problems. Tires and stuff don't count! As the Brits would say: Problem sorted.
When speaking of North Cyprus, Live & Invest Overseas says “But more important for us: it offers serious profit potential at bargain values.” Cool. They rave about this area in several articles and Newsletters.
So yeah, you would expect to live for far less when moving from the US but what about other retirement or investment destinations? The cheapest place we have seen is Costa Rica. Yep, if all you want is cheap, that’s your place.
Before you book your tickets, may we show you one last thing? Question: where do you plan to go if you want to get away? What will you see if you live there? Unless you want to visit Honduras or Guatemala there isn't much nearby. That's not an insult, these are beautiful places... but:
Lush green jungle comes right to your back yard. But what if you retired there and want to get away for a few days?
At the same time I took the screen shot of this map, I took a second screen shot. Being careful not to change the zoom, I moved Cyprus to the center of the map below.
Looking at this map, we see Italy, Greece, the Holy Lands, Egypt, even Turkey. All in the same distance as we see in the map of Central America. This is something that will not show-up on a cost of living spreadsheet.
You don't HAVE to visit the City of Light, but its there if you want. The entire point of moving overseas is to improve your lifestyle. If you agree with that statement, then North Cyprus must be high on your list.
Clearly, there is more to this than cost of living, there’s also quality of life. When considering an investment or retirement, ask how easy is a unit to rent or how you plan to enjoy your golden years.