South Cyprus is more expensive than TRNC - New report

The Turkish Cypriot Chamber of Commerce (KTTO) has announced that it had detected that South Cyprus is 48% more expensive than the Turkish Republic of Northern Cyprus.

According to a statement released by the KTTO, as a result of a research on prices carried out between South and North on the 6th of September it has been detected that prices of many goods in South Cyprus are very high compared to North Cyprus.

Noting that the average of the prices of the 46 goods examined by chamber officials from three of the most popular supermarkets in North Cyprus and South Cyprus was 906 TL in North Cyprus and 1,345 TL in South Cyprus, the statement said “as a result of the average prices of the daily essential goods it’s been calculated that the South Cyprus is 48% more expensive than North Cyprus.”

Within the framework of the study, 46 goods, by taking the brand, weight and unit into consideration were compared. The prices of goods reflect the price average of 3 supermarkets in North Cyprus and South Cyprus. Our study did not reflect the prices of discounted products the KTTO statement said.

It also added that the study also showed that a decision taken by the government for VAT deduction led to price drops in some goods at the supermarkets.