Planning an Affordable Retirement in North Cyprus

There’s a new demographic in the UK – the FRED – an over fifty, pre-retiree who is Facing Retirement Earnings Deficits and who is seeking an affordable solution for retirement. This group is being impacted by the cost of living in the UK, high fuel prices and accommodation costs and also the fact that many of them are in part still supporting children and even grandchildren because the cost of living in the UK has risen so far so fast.

For those who want to find a solution to their retirement earnings deficit issues but who have no way of topping up their pension pot, what about planning an affordable retirement abroad in North Cyprus?

Northern Cyprus is an affordable haven for property, for lifestyle, for eating out and for every type of day-to-day cost, therefore it makes fine fiscal sense to look more closely at the destination to see whether it would appeal to you for your retirement.

The first thing to think about is that the cost of property in Northern Cyprus is a fraction of the cost of the average house in the UK and also the average house in southern Cyprus. Properties in North Cyprus are priced in pounds as well which makes it easy to compare what you’re getting for your money.

Many a retiree already living in North Cyprus has swapped their British home for a stunning sundrenched Cypriot villa with a pool and landscaped gardens and a lump sum in the bank to make retirement earnings go that much further.

When it comes to the cost of day-to-day living, electricity and gas, water and rates are all affordable. Because the climate in North Cyprus is fabulous in the summer and temperate in the winter, overall fuel costs are very reasonable. What’s more, if you shop as the Cypriots do at local butchers, at the market and you buy what is in season, you will find your grocery bill is much reduced compared to the UK norm.

Finally, the only thorn in the side of those seeking an affordable retirement in North Cyprus is that buying a car is an expensive commodity. But, there are those who get around this issue either by living in or close to Kyrenia and using public transport, or by importing their car from the UK when they move to the island – after all, in Cyprus just as in the UK everyone drives on the left.