how much money do you need to retire to north cyprus

Pawky


Joined: 19/05/2009
Posts: 4

Message Posted:
17/11/2010 15:49

With the current interest rates in north cyprus, how much money do you think you need to invest with turkish banks to get enough paid out to able to have a reasonable standard of living for 2 people?

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
17/11/2010 15:57

about GBP£50K

Geoff

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
17/11/2010 16:00

50k @10% interest per annum = 5k interest per annum = £100 pw.....dont think so...

tinker


Joined: 14/08/2008
Posts: 156

Message Posted:
17/11/2010 16:07

Our Buget was £1000 per month in 2006 .

More like £1250 now .

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
17/11/2010 16:10

I think Geoff is thinking of Carl Clark-Derby's 5% per month investment plan. I think one of the problems with that investment was the number of years you're locked in..... jail. ;-)

stilluvithere



Joined: 03/12/2008
Posts: 765

Message Posted:
17/11/2010 16:22

What do you call reasonable, some folk retire here and eat out 2 or 3 times a week, others perhaps rarely.

Will you have a swimming pool as that is an expensive luxury. Do you own or will you rent, these are some of the factors you have to consider.

NCMan



Joined: 19/09/2009
Posts: 670

Message Posted:
17/11/2010 16:24

As msg 6 said



Depends on how you want to live , do you want to live the life of a hermit or join in the cyprus scene.

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
17/11/2010 16:28

With currencies falling, especially the Euro, there is talk that Turkey may have to reduce interest rates to ensure it's exports remain competitive.



If you assume TL savings rates fall to, say, 7% over the next year or so, to maintain an equivalent income of £1500 per month for a fairly basic lifestyle, you would need to have approx £250k on TL deposit.





Ouch!

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
17/11/2010 16:29

silly question really..only you know how much you need to spend... so you need to calculate what you need net and then see how you can achieve it. Everyones standards of living and needs are different. There is no doubt inflation soon eats into planned income requirments there you need to build this in. The cost of living everywhere will soar rising energy prices due to limited supplies, currency fluctuations increasing taxes. Theres no easy ride. I guess a couple living modestly would need £1300 to £1400 (depends also if owner or tenant eg rent.) Dont forget travel home etc and emergencies. With inflation etc you may be looking at needing £2K a month after 5 years. If you dont want to deplete your capital to get £2K a month you need £400K invested at 6% at taht time. Dont beleive in fancy investment schemes if it sounds to good to be true it probably is. anyway get your calculator out and dont live in cloud cuckoo land be realsitic...

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
17/11/2010 16:42

Cost of living on par with UK !!

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
17/11/2010 17:21

"Cost of living on par with UK !! "

at the moment!

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
17/11/2010 17:22

When I suggested £50K I assumed that he also received the UK State Pension. If not then it needs increasing to £100K.

Geoff

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
17/11/2010 17:28

How so ???



Local taxes are lower,fuel costs less,investment taxes are lower,local type food prices are lower...



Have you seen the price of a loaf of English bread now in the UK ????

matula


Joined: 07/07/2008
Posts: 647

Message Posted:
17/11/2010 17:37

What kind of lifestyles do some of you people have? Neither my wife or I receive a full UK pension as we were out of the country for 30+ years. We get by somehow but it is getting harder as each month goes by.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
17/11/2010 17:44

If you are renting out your original property in the UK and living in your new property abroad with 2 state pensions and 2 company pensions you should be alright as a couple

zerochlor


Joined: 03/04/2009
Posts: 4024

Message Posted:
17/11/2010 17:44

£500 pound a week to not really have much of a worry,if your car breaks down,if you need medicin or hospital treatment or dentist,or some kind of repair done on your home,or some thing breaks.



car insurance, road tax, fuel, logs for winter,or oil for the central heating.



200tl plus shopping per week.going out money.



it all adds up



window cleaner.



gardener



pool cleaning.



so many things i did not consider when i came to live here.

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
17/11/2010 17:52

I live happily on £1000.00 per month,2 smallish early company pensions and the rest in banks here,rented property in the uk,no mortgage on same,as things change,I'll look at what options are available for better returns.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
17/11/2010 18:00

There's the rub. The cost of living has increased in NC in a fairly short time with no sign of a let up. With the uncertainty of what standard of living you will have, the real insecurity and potential nightmare of owning a property, and that you could be falsely accused of a crime and imprisoned or deported at the drop of a hat, really make the TRNC a poor prospect as a retirement location.

stilluvithere



Joined: 03/12/2008
Posts: 765

Message Posted:
17/11/2010 18:22

I have lived here for 8 years and inflation has always been high but up until 3 years ago the £ went up daily against the TL so increases were not noticed. Now with the strong Lira it is a double whammy but I still have a reasonable lifestyle for less than £1000 a month. We do our own pool, garden and housework and that saves a lot but if you are retired you will have plenty of time.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
17/11/2010 18:37

£500k If you want a decent living.

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
17/11/2010 18:57

Having been here over 6 years I would say that if maintaining the same lifestyle over that period the cost of living has doubled and that is taking into account now being a lot wiser where and how to shop. I would guess that if you are finding things tight in UK it will be the same here unless you have income which appreciates considerably in value each year or you have money to draw down on and die in due course with nothing or little to leave your beneficiaries.

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
17/11/2010 19:17

At least in the UK you don't get chucked on the next plane out if you run out of money!

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
17/11/2010 19:17

I find electric more expensive in Cyprus than the UK if you have a villa on par with house size in the UK

However if you down size from a house in the UK to an apartment in Cyprus you would find electric and water cheaper simply because you would be living in a smaller property.



Eating out in the UK such as Frankie, benny's, yates local pubs etc in my opinion are cheaper than on par with North Cyprus, However fine dining in N/C to me is cheaper than UK.



Clothes/shoes/Quality every day house appliances/paint/bedding/furniture, Cars/insurance to me are cheaper in the UK

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
17/11/2010 19:22

After capital expenditure for fully furnished freehold house/apartment & car, you'll need £20K pa disposable income for a good standard of living as a couple.



Richard

journey1


Joined: 05/12/2009
Posts: 134

Message Posted:
17/11/2010 19:29

I still find having a home in Uk and flying back and forwards is the best bet.

If I could do it again in hindsight, I would rent here for all the superb weather periods.

Really have considered the all positive and negative aspects of living here full time but for me the long term 'potential' problems persuade me to remain based in the UK.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
17/11/2010 19:40

Have to agree. No place like home for me it is the UK . However N/C is still my second favourite place at present !!

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
17/11/2010 19:44

Brinsley, if there is such a thing as an average life style I think the assessment you gave is as accurate as is possible and a good guideline.

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
17/11/2010 19:54

Agree journey 1. rent here ,keep place in UK. Car prices here are unbelievable. total rip off. food just the same as UK as is electricity(pool an air conditioning)petrol slightly cheaper. views an weather much better. Even women now just as expensive as UK. such a shame this place used to have so much going for it. not any more.

journey1


Joined: 05/12/2009
Posts: 134

Message Posted:
17/11/2010 20:36

Msg 28

'even women now just as expensive as UK' - care to expand on that one? LOL!

Ohh it still has a lot to offer - difficult for me to say having had such a horrid time recently but I have to weigh it up against all the brill times I have had hear since i first visited with my young kids.

gotavilla


Joined: 22/04/2009
Posts: 175

Message Posted:
17/11/2010 22:52

Rent here. Keep place in UK. Best of both worlds.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
18/11/2010 05:40

mess 12 gets the Neg Nick "back peddling" award of the month....................



Tip Geoff - if you don't know jack - might be a good idea not to post......................

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
18/11/2010 05:42

mess 5 gets the Neg Nick "post of the month" award.................



Very witty - well done...............

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
18/11/2010 07:04

I live on £530 a month. I live alone dont have a pool own my house and run a car.Some months i have nothing left and some a little but no money for emergencies but i still think its cheaper to live here than the uk.

guidosp1


Joined: 30/12/2008
Posts: 341

Message Posted:
18/11/2010 08:44

1 mil and a doggy builder and you soon have to work again....

damchi


Joined: 21/05/2010
Posts: 26

Message Posted:
18/11/2010 10:11

Goodness gracious me - dogs are being trained as builders are they? Please send me the instruction leaflet - I will pass it on to my two hounds.

IbrahimAbi


Joined: 24/10/2010
Posts: 245

Message Posted:
18/11/2010 10:22

Think it was a pointer Damchi

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
18/11/2010 10:31

The majority of senior citizens in the Uk have to live on less than a £1000 per month and most seem to manage fine. Why would you need more to live in the TRNC if you lived the same lifestyle? The only things that I have found are more expensive is meat, cars and electricity. If you are careful with the electric and follow some simple rules, then it isn't so bad and as it is going up in the UK will possibly work out the same. Meat, eat less of it and eat more vegatables and pasta. The initial outlay for a car is greater but the tax and petrol are cheaper. We don't smoke and don't go drinking every night, we don't do this in the UK so why should we do it when we move to Cyprus. I suspect a lot of people move there and think they are on one long holiday.



The butlers wife

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
18/11/2010 10:43

got to take into account that the cost of living in north Cyprus will rise more so realistically you need 500k in the bank if your thinking long term.

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
18/11/2010 11:02

Stephen, having no piped water for 6 months of each year for 3 years plus the cost of electric to pump up water delivered by tankers into a deposit is astronomical. Paying health insurance for 3 years and when reaching 65 years of age having that insurance arbitrarily withdrawn is also very expensive. Being unlucky with a second hand car purchases can also bring financial grief. That is not one long holiday. I think your views are sound, and long may your happiness continue, but I would also recommend that everybody tries to live well within their budget and have savings as fate is fickle. Thus I believe it is not sensible to try and live permanetly here unless you have sufficient funds or income to cope with inflation and be free of worry that financial adversity could be in the pipeline , as well as no water (please excuse puns)

hattikins


Joined: 17/02/2008
Posts: 2793

Message Posted:
18/11/2010 11:05

We most certainly don't have 500k, worse luck, but we have a good standard of living here, we go out to eat a couple of times a week and manage to pay our bills with no difficulty. Some months there are unexpected extras to pay, car repairs, replacing household good and the like but we don't need anything like £500 per week to live on, I suppose it all depends on what sort of lifestyle you want, do you want to *live* here or have one long holiday.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
18/11/2010 11:08

Cyprusman3,



How many ordinary people have £500,000 to put in the bank in the TRNC? Lets be honest here, it is not a country that the majority of people with that amount of money would choose to live in. They would surely choose the Carribean islands or somewhere equally exotic but I don't think they would opt for the TRNC unless they had family ties there.





The butlers wife

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
18/11/2010 11:23

Well I understand what you are saying but if you check the cost of living 20 years ago then check it 10 years ago it will give you a eye opening view to the cost of living in 10 years time !! when i say 500k i mean the income from that amount that you would get from a bank for you cant just spend as you earn you need to save a bit to counter the rise in costs. This is how I have played it over the last 20 years i have been here and you do need to be able to save a bit as well as live.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
18/11/2010 12:01

If you loook at the locals with an average income of just over £500 per month, they have to pay the same bills for electric and water etc. They may eat slightly different to us but if they have to manage, then surely we should be able to on double that amount. As hattikins points out, it depends on your lifestyle and how you budget, one has to cut the cloth to suit.



The butlers wife

stellasstar1



Joined: 02/07/2008
Posts: 1519

Message Posted:
18/11/2010 18:03

It also depends if you have any of your own animals, plus garden animals. Food for the animals is expensive here. There seem to be so many more unexpected things to pay for here, I'm not sure why, but every month their seems to be something unexpected. I'm even keeping a financial statement so I can see where all the money goes each month.

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
19/11/2010 10:24

very wise !! mesage 44

MotoMoto


Joined: 15/02/2009
Posts: 152

Message Posted:
19/11/2010 15:17

I have just returned from London.....you all must come from up 'north' if you think living in TRNC is more expensive than UK

Yes - Car (purchase and tax), Electricity, buts thats it...



UK Council Tax £1,000 plus

Petrol - £1.22 per litre and rising

Insurance - plus 50% per annum

A large scotch in my local pub - £12

Restaurants 30-50% more for equivalent fare

Cigarettes and alcohol - much more

School fees ..........! I have 2 young children

Rent - 2 bed flat in Putney £1800 per month



I could go on - properly invested you can still achieve 12% net in TL return, so £150,000 invested should provide sufficient for modest/comfortable existence if you own home here

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
19/11/2010 16:52

Moto



living in London is hardly any comparison to living anywhere in the TRNC, so your analysis is somewhat distorted.

I suggest you change your pub!!

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
19/11/2010 16:56

you may not like it but you do need 400 to 500K if you do not wish to drawdown your capital and wish to cover inflationary rises over the next 10 - 15 years, unless of course you have rental income, pensions or do some work its a fact of economics. £400K to £500k is a modest house in the south east of england so many people could move out there with that sort of capital if they sold up. A better option would be to keep a smaller base in UK and rent it out to supplement income whether in NC or even somewhere cheaper perhaps in Asia.

beachsidebum


Joined: 02/03/2010
Posts: 425

Message Posted:
19/11/2010 17:16

Message 48,, what a load of tosh..

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
19/11/2010 19:10

Message 46

Most people from the UK. on average incomes couldn't afford to live in Putney in the first place or send their children to private schools. I worked in London all my life but could never afford to buy property there & renting property in London is a mugs game.

As for your statement about car & household Insurance being cheaper in the TRNC than the UK. then yet again you are factoring in the London effect. My premiums for both were much cheaper in the UK (Bedfordshire) & for much better cover, than they are here.

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
19/11/2010 22:49

message 49 he does like the truth spounds like an ostrich to me

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
19/11/2010 22:52

if you look at beachside bums postings he appears to have to sell stuff to make ends meet should we take financial advice from him...well that is a way

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
19/11/2010 22:58

Listen to rocky, those facts are real xxx

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
20/11/2010 00:10

I cannot believe that if you own your home and don't smoke or drink much, that it costs £40-£50,000 a year for a couple to live in the TRNC. I think these people who are saying that it costs this, must be running 2 cars and going out every night to eat. They probably have children at private school as well. If this is the case then yes it will cost that much but for a retired couple no way.





The butlers wife

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
20/11/2010 00:16

Pawky (mess 1)



It could cost you a lot more than the current TRNC interest rate! tread very carefully, don't part with one penny, or one lire, beware of banks, lawyers, developers, estate agents, and anything the TRNC Government says in any glossy brochures!



The TRNC is full of Scams, please don't be yet another victim!



Other than that enjoy

zerochlor


Joined: 03/04/2009
Posts: 4024

Message Posted:
20/11/2010 01:32

Not so many have actually answerd the post.



What figure do you need to live here comfortabley.



100 pound a week



200 pound a week



300 pound a week



400 pound a week



500 pound a week



or maybe more?

bonnie0172


Joined: 16/11/2010
Posts: 46

Message Posted:
20/11/2010 09:39

We spend £200 on food each week that includes going out for a meal once a week.

If we buy anything we have to go to the bank & draw more money out.

damchi


Joined: 21/05/2010
Posts: 26

Message Posted:
20/11/2010 10:01

message 57 - gosh that is an awful lot of money for two people - when my husband was alive I didn't spend that in the UK for the two of us. Allowing for the average NCypriot working persons income being less per month than what you are spending on food perhaps you have not yet begun to 'shop around' in North Cyprus - fruit, vegetables and other commodities are much cheaper in the weekly market - the local butchers sell their meat at a lower price per kilo than Lamar and other supermarkets. Still being resident in the UK costs here are rising at a steady rate. My Council Tax is more than £1500 pa. Heating/lighting/water £4500 pa, petrol £1.24 per litre (and going up steadily) + car tax, + insurance + house insurance + TV licence (£145 pa), + my gardener + clothes - etc. etc. I would imagine that my personal cost of living in NCyprus would be lower than I spend here in UK with no loss of standard of living.

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
20/11/2010 16:29

message 55



Stay within topic please !



message 1



You are the only person that can answer your question...

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
20/11/2010 17:18

Stonehousepub (mess 59)



I beg to differ but mess 55 is well within topic! the topic is "How much Money do you need to retire to North Cyprus"



The Answer is it could be lot more than anyone can ever bargain for! you only have to look a other threads on this board! ie "Who has suffered from the demise of North Cyprus Rentals Ltd" & "Court order for unpaid School fees BEWARE" & "Ex pat Carl C.D. charged "defrauding colleagues" and that's without all the corruption in the construction sector, the list goes on and on, and god help your retirement finances if your builder leaves his rubbish behind, and then decides you have stolen it!



There a lot more to living in the TRNC than eating and drinking, unfortunately most people have to live somewhere, whether they rent or buy, it certainly can deplete your retirement fund very quickly, as many have found out to the cost of their health, wealth and well being!

Geoff1131MK11


Joined: 04/04/2009
Posts: 396

Message Posted:
20/11/2010 18:10

And then there are the others here who love it, live within their means and are happier here than they were when in the uk. But then again it would'nt do for us all to be the same.

zerochlor


Joined: 03/04/2009
Posts: 4024

Message Posted:
20/11/2010 19:10

Maybe 35,000

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
20/11/2010 19:56

If you don't drink and smoke, live in a villa with no pool, don't have any air conditioning and don't socialise, you can get by on around £150 a week.



Otherwise if you smoke, drink, have a villa with air conditioning, socialise, eat out regularly, go on trips, perhaps even have a holiday twice a year to europe, then you need £50k a year at least.

beachsidebum


Joined: 02/03/2010
Posts: 425

Message Posted:
20/11/2010 20:08

Off post, but I must say,, I am selling items that I am upgrading Rocky,, like to buy something...

aussiejock



Joined: 06/10/2010
Posts: 350

Message Posted:
20/11/2010 23:38

Message 63

£50 thousand a year thats a lot of money, cost of living must be outrageous in the NC, I thought Australia was bad, our costs are around ( if you own your own Home ) $3000.00 AU a month, around £1852.00 = £22.224.00 a year thats running a car, rates, water rates, food, electricity. but if you go out a couple of nights a week to a restaurant then add another £6000.00, so around £28/£30 thousand a year, I just can't see how it cost so much to live in the NC.







Robert

aussiejock



Joined: 06/10/2010
Posts: 350

Message Posted:
20/11/2010 23:41

Message 63

sorry just noticed that you had added have a holiday twice a year to europe I didn't spot that, this would bring the cost up.





Robert

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
23/11/2010 15:26

msg 65.."Can't see how it costs so much to live in NC"





Try buying a short notice air ticket to get off the Island...............WOW

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
23/11/2010 15:46

Also take into account if you are a foreigner you are expected to pay more for everything, with just a few exceptions !!

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
23/11/2010 19:26

Message 65 "...I just can't see how it cost so much to live in the NC. "



You are right, some people on this board are smoking some very strange substances, or else they live in UK and are playing guessing games, which is too often the case.



From one who lives here permanently, assuming you own your car and house outright, £15K / year sterling net will see two people enjoy a very nice lifestyle. If you can stretch to £20K then you can afford to take holidays abroad.- Note that this is not a generalisation, it's my figures, and will not apply to everyone.



Message 68, What exactly as a "foreigner" am I expected to pay more for?

TonyE

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
23/11/2010 19:43

elkiton



It is a known fact that foreigners are charged more for things in TRNC than the locals such as labour, furniture, electrical stuff Advocates charges etc .

If you want to be charged the same you either wise up,barter like mad or you take a local with you to purchase or arrange what you need such as labour etc.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
23/11/2010 19:45

Thank you elkiton, at last somebody with some experience of living in the TRNC who doesn't live the high life every night but has a very nice lifestyle on a sensible income. Just what I thought.





The butlers wife

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
23/11/2010 19:57

A lottery win in my case£££££££££££££££££££££££££££££just joking lol

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
23/11/2010 20:08

'elkiton' is not far off the mark!



Any more, and you can consider yourselves 'high rollers'!

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
23/11/2010 20:09

Message 70.



Are you living here? Have you lived here for several years?

Can you enlighten me as to where your "well known fact" comes from please.



Message 71. Appreciate your thanks. Today we had a light lunch in Kyrenia, then sat on the waterfront for a drink and a smoke (that should get a few going!!), cost was £13. stg. Last Sunday we had Lunch out, £24 Stg for both of us including drinks and a tip. You can enjoy yourself here without spending foolish amounts of money...Having said that I am saving up to go to the International Club Ilgaz.........



TonyE

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
23/11/2010 20:24

I also agree with Elkiton,

Many of the posters on here -with respect, dont want a ban do we - exagerate quite dramatically, 2 people can live very comfortably, eating out once or twice a week, paying their bills, and contrary to what some may say we having lived here full time for four years, do not see the locals ripping us off, we get more free help from our local friends than from many of the ex-pat brigade, (its amazing about these 'known facts' nobody gets ripped off in the good old UK then ??) there is no end to some people's knowledge



£20K is an ample pension to live here so come on over you are going to enjoy it.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
23/11/2010 20:39

elkiton.

Could I ask a question .

In the whole time you have lived in North Cyprus have ever never paid more for something or services knowing you have paid more than a local ?

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
23/11/2010 20:39

Rob

Message 67.

'Try buying a short notice air ticket to get off the Island...............WOW'



I did just that today for a return flight to Stanstead for this Friday.

£267 which I did not think was that expensive for a last minute booking.

aussiejock



Joined: 06/10/2010
Posts: 350

Message Posted:
23/11/2010 20:55

elkiton.

Thanks for the information I just thought it was a bit high, If as you say you can live very nicely on 20 grand that's ok for us, But just found out that if we leave the country for more than 6 months I lose my pension, really craps me off so only way I can live is to use the interest.





Robert

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
23/11/2010 21:02

Message 75,

Makes us seem like the "myth busters lol. You have it right on the nose. Too many "well known facts" are really not facts at all. I retired out here on a pension of about 1/7 of my gross Uk working wage, and was pretty frightened that the change of lifestyle would leave me in relative poverty....it did'nt and the lowering of the stress factors , good weather and generally nice sincere local people has made life a pleasure for us both. The "Peter Principle" was at work lol



Message 76,

Repeat question....How long have you lived here?



And, to answer your question honestly, I do not know if ever I have paid more than a local for the same goods. With most things being ticket priced it seems fair to me, suspicious if not. As long as the price seems to give good value I am not going to get hung up on a few pennies. If the local shop wished to "discount" their bread to the old girl who lives at the end of the road without a husband, good luck to them. Take a few more cents

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
23/11/2010 21:30

When you find the level of expenditure necessary to maintain your chosen lifestyle here you need to anticipate then meet an overal increase of approx 10 % per annum at the least every year thereafter or find ways of moderation.

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
23/11/2010 22:03

case of effes @ 23tl x 12 , probably 4.5 cases pw or give and take a case ? tray of eggs 5tl x 30 , loaf of bread 2tl bag of spuds 2tl total approx 125tl pw , please allow for electric ,gas , and any other little luxurys you desire ? ps forgot to add the fags , about 4tl a pack if you go to ercan , so another 28tl can be added assuming you only smoke 1 pack per day , at an exchange rate of 2.2tl for gbp1 thats £69.54 pw not bad eh ?

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
23/11/2010 22:40

elkiton .



On a personal note my experience of Living in North Cyprus full time and a planned full time residency has been put off purley by the fact that one of the factors is that North Cyprus can easily be can be a rip off culture if you are not carefull. I cannot be doing with a culture that operates this way.



So to answer your question I do not reside in North Cyprus, however N/C is one of my favourate places I love to visit.



Now getting back on thread my participation was to point out that foreigners should be aware that when taking into consideration the cost of living in north Cyprus, one should be aware that on my experience, also of my family, friends and posters on this board that live in N/C can be being charged more for services, labour and certain items to me this is a FACT.







I would like to point out that you and lazy days appear to the first I have come across who appears not to have been ripped off in any way in North Cyprus. Good for you I say !

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
23/11/2010 22:44

message 80

Agree with you, there is an inflationary factor at work here. Not the place to come if you are on the breadline to start with.



msg 81, add more spuds, they are so nice you can make them the centre-point of many a meal!



Msg 1 "With the current interest rates in north cyprus, how much money do you think you need to invest with turkish banks to get enough paid out to able to have a reasonable standard of living for 2 people?.."



I guess £350 - £400K stg would be the answer to your investment (capital) question to have the income necessary to live here on the interest.



TonyE

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
23/11/2010 22:53

Message 82.



My wife loves to barter and so ensures that where a price is potentially variable, we get a fair deal.



Re your "not ripped-off" comments, there are far more of us around than you might have experience of.- You could consider us a "silent majority", becoming visible only when threads get bent out of shape by people who don't really know what they are talking about.



If you don't live here, then your postings really are repeated hearsay, dressed up as fact.



TonyE

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
23/11/2010 23:44

elkiton .



You appear to fail to grasp that the mentality of rip off culture has contributed to the fact that it has put off many people including me who do not wish to venture in to residing full time in North Cyprus .



We also have to look at many folk that have left the TRNC as the rip off culture could have contributed to there departure.



I do not agree with you stating me '' repeated hearsay'' ''dressing up facts''

A certain rip off culture is a proven fact to me through experience and has just contributed on a decision not for me to live out there. To me a FACT !!



To me and others I feel this is an important factor to consider if moving to another country. Cyprus 44 is full of threads backing up certain experiences and examples of certain rip offs.







Back to your opinion to which you are entitled to . However it is just ''your opinion''

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
24/11/2010 00:04

Sorry all, to have gone off thread a little.

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
24/11/2010 10:33

The following web site does not answer the question but may well help you make the most of your money in the TRNC.

http://www.ncmoneyguide.info

In regard to your question it is safe to say it is not as cheep to live here as it once was but most folk seem to be able to enjoy life here the big question is will what you can afford meet your expectations. To find this out you will have to experiment come over and find out. This for some has been a costly exercise and ended with leaving the Island disillusioned, bitter and worse off.

Maybe (and this is something the forum could comment on) a better idea/question would be can I afford a year or two in the TRNC without severing my links with the UK. One would be able to find out the answer to the first question oneself and if one did not like it or it if the TRNC does not meet ones exceptions then the “bridges are not burnt” so to speak.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
24/11/2010 10:53

Well said Swany !!

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
24/11/2010 13:02

From £12,000 to ? depending the lifestyle you want to enjoy.



It all depends on whether you already have your home paid for or whether you'll be renting as well.



Two people minimum with rented accommodation costing £5,000 per year it may well need another £5k for basic food etc and that is without having a car with its running costs ... perhaps an annual income of £12k minimum for a basic existence. A reasonable existence may well need £15k



It all depends on personal perspective: this link may help you:

http://www.northcyprusfreepress.com/2009/11/21/how-much-does-it-cost-to-live-in-north-cyprus/

I will place some click polls on my site: http://www.no-deeds-no-money.moonfruit.com

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
24/11/2010 15:22

Click polls on the question will be very interesting.



@Walkerscott. Sorry off the subject... You have a lot of click polls I am interested in but can't vote as I have not gone through the experience but I would like to see the results. Can I see the results without voting?

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
24/11/2010 15:48

Swany



try clicking on the buttons a few times to see if it will still show you the results ... please let me know what happens or doesn't.

http://www.no-deeds-no-money.moonfruit.com

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
24/11/2010 18:51

@ Walkerscott 91...

Still does not seem to want to work for me. If I participate in the poll I can see the results. But I don't want to do that if I cannot participate factually as it will mess up your results.

andrew4232



Joined: 04/07/2009
Posts: 1543

Message Posted:
24/11/2010 18:57

I still think this is a stupid question it all depends on what your expectations are in life are some people live on nothing others expect the world maybe you should make up your own mind

cypgab


Joined: 09/01/2010
Posts: 338

Message Posted:
24/11/2010 19:58

It's not a stupid question. It is someone wanting some information. I've found it very informative and following link very useful.



http://www.ncmoneyguide.info/



People have help to make up their minds by research and by learning from other people.



Who's stupid?

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
25/11/2010 11:11

Swany

I have checked out the polls page and I did not realise that people could not see the ongoing results. The website providers can't change their widget polls software and advised me to import a third party one to use but that would destroy the current results.

Hmm, i really assumed that people could see the ongoing polls and am a little disappointed. Apparently everyone can see them only when i close the polls but as you know it takes time to catch as many property owners as possible, so that won't be until mid next year at latest.

Sorry. I will try and think of some other way to show current monthly results.

John

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
25/11/2010 19:07

I read all of these posts with interest, and it amazes me how some people who come to N Cyprus two or three or four times a year pretend to 'know the culture' to these people might I suggest that you - as was suggested by one Millzer on a thread some time ago - take a package holiday instead

As someone who has been fortunate enough to have lived in several different countries, and in each for a considerable time, may I dare to suggest that certain of the posters on this thread (and others) glean most of their information from trolling (trawling) boards such as this one and gathering much misinformation, more to be pitied than scolded though, the same peeps this lovely little corner of earth can happily do without.

Elkiton, you are in danger of falling into the trap it should be evident by now, pipie knows it all. lol

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
25/11/2010 20:11

Hi LD,..yes, foolish of me, I made the mistake of thinking that information was the required currency of the moment. This forum is getting quite a name for itself, "Toxic" was an adjective used in conversation the other day. It's all down to a few people who, in the old fashioned world of face-to-face conversation, would soon be exposed for their paucity of knowledge and insistence on making noises with their mouth-parts for the sake of it.

Discounting all the rubbish, my summary would be.

Walkerscot has it about right... in my opinion.

Assume you own a house / car, have no really expensive medical needs (and don't drink more than one bottle of JW a week!). £12K basic but livable, £15K good standard of living, £18K+ luxury( for Mr Average!!)

Allow 10% PA for inflation.



TonyE

PS it's all relative, a friend has at least 3 x times my income and still can't make ends meet!

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
25/11/2010 20:40

I am so pleased you read my posts with interest thank you !!







Regarding you views on visitors to North Cyprus a little unfair of you and your friend Elkiton to assume these visitors have no insight on the culture. For you to advise these visitors to take a package holiday is just a tad condisending of you, and really very rude, may be on your next meeting at the watering hole youand Elkiton could both reflect on this.







With this sort of attitude Lazy I would imagine visitors have been insulted by your remarks. Maybe an apology is in order !!















You mention you have lived in many countries, I wonder if this was out of choice or could this be that staying in one place you outstayed your welcome, being the latter I can easily understand .







Again your reference to posters on this thread, you accusing of these posters gathering misinformation, again is a tad condescending '' tut tut'' and will not win you any friends, Just a little advise here, try although I

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
25/11/2010 20:49

cont'd



I know it could be hard for you . Try to be a little more frendly, other wise folk may not want you to stay in the corner of this litte earth, it would be such a shame for you to return back to Arnold road I understand you could not wait to leave there !!



Have a good evening Lazy !! I know I will

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
25/11/2010 21:06

There has to be a screw loose with this person, she crawls all over this board with her platitudes, but as Tony E says, toxic is sufficiently descriptive.

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
25/11/2010 21:32

To keep the topic on track

It is up to each individual to decide how much it will cost to live in the TRNC, nobody can tell or advise others as to how they want to live, but most of the posters seem to be in agreement that basically for two people of senior age running a small car and not being extravagant, £20K PA is more than enough.

beachsidebum


Joined: 02/03/2010
Posts: 425

Message Posted:
26/11/2010 11:40

On the button LD,,,£12-20k for the average couple.

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
26/11/2010 15:07

Hi LD,

On the subject of accuracy of information that we touched on, I don't think we even know each other, let alone share a watering hole. Once again we have an example of a specific person who does not live here, and with so, so little knowledge going into print. - still at least it gets an award for being consistent, even though it's consistently wrong!



Can I open the topic a little and ask if anyone has a figure for living in the South ? I have only the experience of one wee's stay last year in Polis, grocery shopping, several coffees and lunches, which does not qualify me to say what it costs, other than it seems a lot more.



Anyone out there in 44 land living South full time or moved up here recently??



Best Regards

TonyE

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
26/11/2010 15:23

elkiton.

Just a suggestion here, maybe it would be a good idea to start another thread in order to be polite to Pawky who started this original thread . I for one have no interest at all in the South's costs and maybe a few other members not interested also.

Better still maybe you could ask about costs on one of the South's forums I wonder being a visitor there you get the same response as what you give visitors here . Have a good day !!

cypgab


Joined: 09/01/2010
Posts: 338

Message Posted:
26/11/2010 15:33

Seconded. Open a new topic Tony (self appointed TRNC expert).

elkiton



Joined: 15/03/2009
Posts: 514

Message Posted:
26/11/2010 17:28

Geoff,

No, not a self appointed TRNC expert, just one who lives here and therefore has a far better working knowledge of the TRNC than many of the other posters.

Living in the UK, or being a tourist visiting a couple of times a year to Cyprus does not equip them in any way to make pseudo authoritative statements about living in the TRNC, which in the best cases are misleading and in the worst cases downright dangerous.

It's the small handful of these idiots who cannot keep their hands off the keyboards that cause the trouble, and should leave the commenting to those who do know the score. Discussion and opinion yes by all means, but don't dress up innuendo as fact, as can be seen from several other threads running earlier in the week.

Point taken on the discussion on the South, Pipie, and I imagine your horizions are so narrow that understanding their financial status woud be like asking you to appreciate a Monet!



TonyE

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
26/11/2010 17:53

Being a homeowner and living here 10 yrs and not thinking I am on holiday anymore, approx £12000 pa thats what a couple would need to live a reasonably good life in the trnc. Don't listen to all these scaremongers with their glamorous life styles, they won't be alive long enough to enjoy their money anyway.

Have a nice day

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
26/11/2010 18:31

I am surprised that this post is still being added to with disagreement when there appears to be consensus that a couple here can have a good lifestyle in the bracket of a £12,000 to £20,000 budget per annum dependant on whether you wish to lean towards the simple things or be more flamboyant. There also seems to be aggreement that annual inflation must be taken into consideration. I would not take issue with any of the comments suffice to reiterate that the thing called fickle fate can ruin all financial plans and estimates. If you are unlucky, like I was, and have to pay for hospital surgery and a series of cars which all proved to be electronically unreliable you can easily end up expending £10,000 or more from savings, over an above budget, in one year !

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
26/11/2010 20:42

Tony E



I have answered your post on your own thread !!

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
26/11/2010 21:17

msg108, deputydawg , thats just bad luck mate ,and could happen to any one anywhere on the planet ?

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
26/11/2010 21:28

Rowlo spot on but I believe it is best to set a budget which leaves some slack for at least only average luck but it is not for me to tell anyone they must have savings, maybe just hint at what can happen. Winning a lottery or the pools far better but no certainty there either

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
26/11/2010 23:05

me thinks me had better stay in old Blighty after reading all the posts on here.My wife and I have a income of 12K a year and live very nicely here on that sum.We went out last nice for a nice meal and with the bottle of wine it was just under 20quid. We shop in Aldi and Lidl much better value than the big supermarkets ,which we used to use until we came across the others.We are saving about 20quid a week by changing, so if they open there I sugest you try them before criticising them off hand.We had a water meter fitted last year and that has saved us £150 year,£93 a month for gas/elec. £1100a year for council tax.Building/contents £168 a year. I live in the midlands so I suppose sum of my costs are far cheaper than those who live in the "smoke" etc..Yes.definitely staying put...

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
26/11/2010 23:15

Oh my lovely coachie, Im so glad to see you. Just to let you know that there is now a lidl south side. I saved a fair bit on various household products and will be going back. Here however you can eat for 20 quid . its a bloody ghost town at the moment. However we are having a heatwave, its really lovely weather till 4pm then it does get so much cooler. got the heater on at the moment. I see bad weather in Uk for the wekend. keep safe all xxxx

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
27/11/2010 00:01

Hi Coachie .



Nice to hear from you . I think you may be right 12k possibly would not be sufficient to live on in TRNC if you resided in anything bigger than a 3 bedroom villa.

Coachie I agree staying in the UK enjoying the best of both worlds, frequent visits to TRNC or wherever, best of both worlds . Enjoy !!

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
27/11/2010 00:15

you know what price to you put on a life, thats what it has cost us x sorry i know your situation is different and i may get a ban, but it has cost us oyr life of freedom. thanks to our builder, cheating solicitors etc. better go now otherwise i will get banned

pdobbo


Joined: 26/11/2010
Posts: 10

Message Posted:
27/11/2010 07:33

To answer #103, I have lived in the South for 33 years, and now feel like taking a "Gap year". We spent 6 weeks in Turkey (Alanya) in the Summer, and found the prices there on par with tourist venues in the South. I have only had a few long weekends in the TRNC in recent months, but have found the prices more expensive than the South. That is probably because I don't have enough local knowledge to eat/drink in the better value places in the TRNC.



Coming to visit TRNC again tomorrow to have a look at the area where the new Marina (Karpaz Bay) is being built.



Have found this thread fascinating especially as one of the reasons we want a "Gap year" is because of the rise in corruption and the "rip off" mentality rapidly gathering momentum in the South....

apc2010


Joined: 28/07/2010
Posts: 1689

Message Posted:
11/12/2010 22:28

always if you go off the tourist trail , prices are always better ...