NewsLocalMonthly income average middle-class household needs to make ends meet

Monthly income average middle-class household needs to make ends meet

How much income does a middle-class household in Cyprus need to make ends meet without much luxury now that inflation is on the rise along with daily costs?

This is something Philenews has looked into and came back with answers taking into consideration the fact that salaries do not get simultaneously higher.

A family of three to four people – two adults and 1-2 children – primarily needs a roof over their head and the average rent for a three-bedroom apartment in Nicosia these days is between €800 -€1,000.

In coastal Limassol, the island’s second-largest city, rents are even higher.

In the case where there is a housing loan of at least €200,000 the monthly instalment is calculated at €900 to €1,000.

A big expense for a family is the amount spent at supermarkets which mainly depends on their diet, that is if they eat more meat or organic products and on the age of children.

Most conservative accurate calculations of the cost of food and shopping from the supermarket range from €400 to €500 monthly for a family of four.

Another notable cost is the car and the gasoline it needs every month. Added are the costs of its maintenance considering that kilometres covered will rise as from this month since afternoon activities by children begin. The estimated cost of fuel monthly cannot be below €100 to €200.

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