Numbeo is a collective online database launched in 2009 by Mladen Adamovic, a former Google engineer. The platform compiles data on cost of living, quality of life, and various socioeconomic factors in cities and countries worldwide. According to its website, the idea for Numbeo emerged after the 2008 global financial crisis and the housing bubble, which underscored the need for accessible, analytical tools on a global scale.

The platform continuously updates its data through official sources for metrics like crime rates and pollution levels, which were added to Numbeo after its initial launch. For cost-of-living and quality-of-life indices, Numbeo employs a crowdsourcing model: users from around the world can freely contribute information about local prices, provided they claim to reside in the area they are reporting on.

Through a suite of tools, visitors to the site can calculate monthly expenses in a new city, compare product prices across countries, and identify cities with similar economic profiles—all based on user-contributed data.

The data collected by Numbeo for Nicosia reveals that the estimated monthly costs for a family of four, excluding rent, are €2,963.9, while a single person’s monthly costs are estimated at €846.5, excluding rent. 

Basic utilities for an 85m² apartment amount to €188.87, and a mobile phone plan with calls and 10GB+ data costs €20.31 per month. Internet service with 60 Mbps or more and unlimited data is priced at €27.76 per month.

In terms of housing, the average cost of a one-bedroom apartment in the city center is €660.95, whereas the same apartment outside the city center costs €521.39. For larger accommodations, a three-bedroom apartment in the city center costs €1,285.79, while outside the center, the cost drops to €1,038.95.

The average monthly net salary in Nicosia, after tax, is €1,490.15, and the mortgage interest rate, fixed for 20 years, is 4.53%.