Cost of Living in Greece

Perfect Сlimate

Greece is a country blessed with the hospital weather. It is perfect for a trip at any time of the year. The seasons are well-defined. There are differences between temperatures in the northern region and the southern Greek islands. In general summers in Greece are long and hot, winters are short and mild. Everybody knows about the positive impact of warm, sunny weather on an individual's mental and physical health. If you live in a cold, rainy country, Greece could be the perfect place for a fresh start.

Islands

Picturesque scenery, the warmest water and cleanest beaches with charming seaside homes, exotic fruits, beautiful and hospitable people — it sounds like paradise, and that’s exactly what the Greek islands offer. Enjoy the view of historical buildings on Corfu and Rhodes, party on Mykonos, spend your honeymoon on Crete, enjoy beautiful sunsets on the island of Santorini, rent a tranquil house in Paros. The Greek islands never disappoint!

Culture and History

Greece is the cradle of European civilization. It is a country with the richest history and culture in the whole of Europe. This blessed land has heritage of ancient architecture and monuments. By the way, weren’t we all fascinated by ancient Greek myths during childhood?

Safety

The Greeks respect the privacy and safety of every individual. Tourists are unlikely to experience any violence. By taking basic precautions, you can avoid any potential issues while living here. In terms of crime rates, Greece also proves to be safer than some other countries.

Food

The Greek diet is one of the healthiest in the world. The Greeks really know how to use olive oil for cooking: it’s in abundance in every supermarket. You’ll also enjoy plenty of fresh fruits and vegetables, which are affordable, along with feta cheese. Traditional Greek dishes are extremely delicious! Living in Greece is the best way to maintain a healthy diet. And if you convert the local food prices to dollars, you will be surprised how affordable a healthy menu is here. Achieve your dream body without effort!

Nightlife

Weather contributes a lot to the nightlife of Greece. This country is not all about romance and ancient buildings, it is also about having a good time in nightclubs. The nightlife is incredibly exciting. Here you can find clubs for different ages and tastes. The most pleasant thing is that there is no entrance fee in Greece: you pay only for drinks. Clubs are open for the whole night, making this country a perfect destination for party lovers!

Hospitable People

The Greeks are very lively and joyful. They are usually friendly with strangers, especially if we speak about people from small towns. The spirit of Greek hospitality is known worldwide: you will rarely have a poor reception.

The Greeks are always generous with their guests and do everything to ensure they feel welcome. If a guest encounters any trouble, locals will readily offer their help. The Greeks speak fluent English so there are no significant language barriers.

If you travel solo, you will not have problems finding a companion among locals. They will happily show you the best places for visiting. You will never feel alone in Greece!

Living Expenses in Greece

Perhaps the most convincing reason to become an expat in Greece is the cost of living — life here is comfortable even on a modest salary. It is not so expensive to live in Greece. Prices for accommodation, healthcare, and food are among the lowest compared to other European countries, which is one of the side effects of the Greek economy. At the same time, this country offers high-quality standards of living. Greece has created an ideal environment for remote work, travelling, living, and even retirement. And immigration too, of course. Financial infrastructure is widely developed, so goods can be paid with credit cards even in open-air markets (laiki agoras).

Do you want to know more details about the cost of living in Greece? Then continue reading. You might also want to get a Schengen visa and enjoy a 90-day worry-free stay in Greece.

Housing

Have you already decided where to stay? If you want to live in a big city, then Athens or Thessaloniki will be the best choice to establish your future home. But if you dream of leading a quiet life with your family members, there are many mid-sized towns and small villages in Greece. Choose any place to live that suits your taste! It will not cost you much as the long-term rental price in Greece is 70% lower than in the USA. It makes a difference!

For example, in Athens, an apartment (1 bedroom) is available for about €600 per month. The cost of housing on the Greek islands is similar to Athens. For example, renting an apartment (1 bedroom) with a modern kitchen and bathroom outside the city centre of Santorini (but not too far) will cost about €680. If you want to experience life in a small city, be ready to spend about €400 monthly.

If you have enough money, buying property in Greece will be the best decision and a smart investment. The following information will be very helpful to you. The average price of apartments is about €2,200 per m², though prices vary significantly by region. For example:

• in Athens and Santorini, prices range from €2,000 to €5,000 per m²;
• in Crete, prices range from €2,000 to €4,000 per m².

There are options to suit every budget!

Residence Permit

You will need a residence permit (a Residence Certificate) if you plan to stay in Greece for more than 90 days. It is not so complicated to get it, all you need is patience.

Things are easier if you are a national of the European Union countries. A residence certificate for you is of unlimited validity. The list of documents needed for applying: a passport or identity card, 4 photographs, a rental contract for accommodation or title deeds, proof of sufficient income (bank statements or certificate from the employer), health insurance coverage.

The process is easier if you are a national of a European Union country. For EU citizens, the residence certificate is of unlimited validity. The documents required for the application include:

• a passport or identity card;
• four photographs;
• a rental contract for accommodation or property title deeds;
• a criminal record certificate;
• proof of sufficient income (bank statements or an employer’s certificate);
• health insurance coverage.

After 7 years of continuous residence (or marriage to a Greek nationality) you have a chance to get citizenship.

Other nationals will need a visa to enter Greece. The visa type depends on the purpose of the visit (work, studying, etc.). If you plan to stay longer than your visa allows, you must also obtain a residence permit. This should be done within the first 2 months of your arrival. Greek authorities recommend you apply immediately to avoid delays. If your permit is delayed, you will have to leave the country because your visa has expired. The application can be submitted at the town hall or local police stations.

If you are part of the Golden Visa programme, you must purchase property worth at least €250,000 to qualify for a residence permit.

Healthcare

There are 2 healthcare options: public healthcare and private insurance. Greek healthcare expenditure per capita is about $750

Public medical service provides people with emergency visits for free. People of different jobs and nationalities can get urgent medical care for free. If you pay contributions on a regular basis, you will also get help without paying anything. In other cases, you will have to pay out of your pocket or through the insurance plan provided by your employer.

Private insurance is available for everyone. Private facilities provide better equipment and English-speaking doctors.

The cost of healthcare in Greece is twice cheaper than in the USA or the EU. If you have no insurance the standard check-up will cost ~€40.

Many people admit that the quality of healthcare is very high and what is more inspiring – prices are reasonable.

Public Healthcare

Public medical services provide free emergency care to all individuals, regardless of job or nationality. If you make regular contributions to the national health system, you can also access other medical services free of charge. Otherwise, you will need to pay out of pocket or use an insurance plan provided by your employer.

Private Insurance

Private healthcare is available to everyone and offers access to better facilities and English-speaking doctors. Many people get private insurance due to the higher standard of service and shorter waiting times.

Healthcare costs in Greece are significantly lower than in the USA or most EU countries. For example, a standard check-up costs approximately €60 without insurance.

Many people praise the high quality of healthcare in Greece, and what is even more appealing are the reasonable prices.

Taxes

In Greece all the taxes are progressive. It imposes a higher tax rate for people with higher income. Income tax scale for expats (annual):

• first €10,000 — 9%;

• from €10,000 to €20,000 — 22%;

• from €20,000 to €30,000 — 28%;

• from €30,000 to €40,000 — 36%;

• above €40,000 — 44%.

Individual taxpayers must also pay social security, capital (on inheritance, gifts, lottery gains), value-added taxes (applying to the basic price of products and services). We also have a separate guide explaining taxation for employees and business owners residing in Greece.

Food

If you are used to eating out, then the average cost of food for you will be around €50 per day. An average meal in a café costs €16. Breakfast prices are much cheaper than lunch or dinner. There are many big fast-food chains. So if you are on a tight budget, you can dine out at a fast-food restaurant.

Good news for people who enjoy cooking by themselves. Food prices are quite cheap. For those who prefer eating healthy food, there are many locally-grown products. The average costs for some food:

• a dozen of eggs — €4;
• rice — €2.2; 
• chicken (1 kg) — €9.36; 
• bread (500 g) — €1.25; 
• beef round — €12.36; 
• potato (1 kg) — €1.12; 
• milk (1 litre) — €1.49. 

Transportation

Travelling throughout cities is not a problem thanks to the developed transportation system and reasonable costs. Public transport includes city buses and a metro system in Athens.

Expats can drive their cars but only if they have valid car insurance. Hiring costs are rather high. Transportation costs:

• bus ticket — €1.2; 
• gasoline (1 litre) — €1.87;
• taxi (1 km) — €2.

It is affordable to buy a new car in Greece. For example, a new Toyota Corolla will cost about €26,000.

Education

Public schools

Most children in Greece attend public schools, which are free and funded by taxes. Note, that they only provide education in the Greek language. Parents have to pay for their child's school uniform and sometimes for additional lessons.

Private schools

Private and international schools are not free. These types of schools teach subjects in English and other foreign languages.

International schools and private schools cost about €6,000–20,000 per school year. The costs may vary depending on the school, age, and grade.

Higher Education

University education is free for Greek citizens (as well as other EU citizens). Foreigners have to pay €1,500–9,000 per year. This is such a negligible sum, especially if compared to the USA, where students pay $35,000 per year.

Average Salaries and Social Security System

A person working in Greece earns about a wage of €962 per month. Salaries range from €620 to €10,900 depending on the region, profession, and education of an employee. The highest income in Greece is in the following sectors: law, IT, and marketing, while the lowest is in tourism and agriculture. If you're considering working in Greece, choose your industry carefully to maximise your earning potential.

The citizens of Greece must pay 15 years' contributions to qualify for an old-age pension. The official retirement age is 65 years. For receiving a full pension a person must accumulate 40 insurance years and be 62 years old. The unemployment rates have been gradually decreasing lately

Entertainment

Greece boasts an enormous cultural heritage, with thousands of museums, galleries, theatres, and cinemas to explore. You can easily find something to suit your interests and visit whenever you have free time. In Greece entertainment on average costs €50 per person daily. This includes tickets to museums, cinemas, and other sightseeing expenses.

For fitness enthusiasts, the average monthly cost of a gym or fitness club membership is €43.If you’re a tennis fan, you can rent a court for around €23 per hour to enjoy a game with friends.

Sample Monthly Budget

• housing (one-bedroom apartment for rent in the capital) — €600; 
• utilities (including the Internet) — €260; 
• food — €300; 
• leisure activities — €245–300.

Note: the cost of living in Greece will depend only on your personal preferences in food, clothes, etc.

Living as an Expat in Greece

Greece is an excellent country for expats. The cost of living is approximately 30% lower than in other European countries and the USA. However, prices vary depending on the area. For instance, life on the islands tends to be more expensive in terms of housing, fuel, and everyday goods.

Currently, buying property in Greece is highly profitable. Prices are steadily rising as the property market grows, driven by the increasing popularity of tourism, economic recovery, and the Golden Visa programme.