Cyprus named one of the best places for retirees

Cyprus, along with three cities on the island — Limassol, Paphos and Larnaca — has been included in a new Forbes ranking of the best international destinations for retirement. Forbes assessed 96 destinations in 24 countries based on the cost of living, quality of healthcare, tax policies, safety, political stability, long-term residency opportunities, transport accessibility and other criteria.

Among Cyprus’s advantages, the publication highlighted its mild Mediterranean climate, beaches, political stability and widespread use of English. According to Forbes, the cost of living on the island is approximately one-third lower than in the United States. The availability of the public healthcare system GeSY to permanent residents was also noted. At the same time, many foreign retirees additionally use private health insurance.

Forbes considers obtaining the right to reside in Cyprus relatively straightforward. The options available include a Category F temporary residence permit, for which a married couple requires an annual income of around $35 000, as well as a programme involving the purchase of property worth at least €350 000. At the same time, the publication emphasises the significant difference in purchasing power between foreign retirees and local residents.

American retirees come to Cyprus with savings and pensions received in the United States, allowing them to spend considerably more at local price levels. The situation is different for Cyprus residents: the average gross salary in 2025 was €2 605 per month.

Property prices also place a significant burden on residents. The average cost of an apartment in Limassol reached €372 000, while in Paphos it stood at €287 000, making home ownership considerably less affordable for local residents.