Cyprus offers lower living costs

An expatriate from the UK has revealed that he has enjoyed a lower cost of living since moving to Cyprus.

Tony Blackwell, a retired electrician from Manchester, relocated to the Mediterranean island six years ago with his wife.

Speaking to the Associated Press, he said the country offers a number of attractions, such as relatively low prices.

Indeed, he stated that living costs in Cyprus are between 15 and 20 per cent cheaper than those in the UK.

This is because residents do not have to pay as much in tax, which means that while both countries are being affected by rising food and fuel prices, people on the island have not been as badly affected.

However, Mr Blackwell admitted that he is still looking for ways to reduce his overall expenditure.

He commented: "You have to be very astute at what you do, but it's frustrating that there's nothing you can do to change that."

This comes after Cyprus was recommended to retirees by ShelterOffshore.com on the strength of its financial attractions, such as various tax breaks.