Living in Greece in 2024: Pros and Cons of Life in Greece

Life in Greece has something to offer everyone, including affordable housing, friendly inhabitants, a warm year-round climate, world-class cuisine, and a rich history spanning centuries.

This guide will teach you everything you need to know about living in Greece, including the main pros and cons, visa options, the cost of living, and more.

5 Benefits of Living in Greece

The Pros and Cons of Living in Greece

Greece is well-known for its stunning landscapes, rich history, and relaxed Mediterranean lifestyle. However, while it offers locals and expats many attractive qualities, there are still some downsides to living in the country. Here are the main pros and cons of life in Greece:

Pros of living in Greece

• Greece is relatively cheap, especially compared to Canada, the US, and Western Europe.
• Greece is one of Europe’s warmest countries, and it has amazing weather throughout the year.
• The quality of the Greek medical care is high.
• Education is widely accessible and affordable.
• You have access to amazing Greek cuisine.

Cons of living in Greece

• Finding employment is challenging, especially if you do not speak Greek.
• It is costly to live near major tourist destinations. Not to mention that touristic Greek cities can be overcrowded.
• You have to learn the Greek language.
• Greek infrastructure is poor, and you might struggle to navigate the country.
• Greek bureaucracy is slow and complex.

Pros of Living in Greece

1. The cost of living in Greece

One of the biggest pros of living in Greece is the cost of living. The country has a reputation for being reasonably affordable concerning rent, utilities, food, groceries, and transportation.

Although the cost of living in Greece is relatively cheap compared to Western European countries, the average wage in Greece is also relatively low.

Americans living in Greece pay lower prices for everyday necessities – food, transportation, and more, are at least 20 percent lower than in the United States, while the cost of renting an apartment can be lower by as much as 70 percent.

The closer you are to renowned tourist destinations in Greece, the higher the rates will be, especially for top lodging, high-end restaurant meals, and general entertainment. The location has everything to do with how much money you will spend. Living on a lesser-known island or in a tiny inland town will cost far less per year than living in old Athens or Santorini, for example.

Food in Greece is incredibly affordable, especially in Rhode Island, which has no import charges. This makes Greece one of the best European countries to live in terms of food costs.

Rent and utilities

Life in Greece will not cost you much on a general scale. In Athens, for example, which is the most expensive city in Greece, you can find a one-bedroom apartment in the city center for around €300 to €500 per month and outside of the city center for around €200 to €400 per month. If you want something a little bigger, you can find a three-bedroom apartment for around €500 or €1000 per month in the city center and around €400 to €800 per month outside of the city center.

Utilities will cost anywhere between €150 and €300 a month, depending on the size of your home, the season, and your level of consumption.

Food and groceries

When planning to travel or live in a new place, everyone considers the cost of necessities, such as food. In a low-cost restaurant in Greece, you can expect to pay anywhere between €10 and €18 for a meal. Supper for two at a mid-range restaurant should cost between €35 and €60.

Greece is well-known for its agricultural goods, which include olive oil, wine, cheese, and saffron. Greece’s Mediterranean diet promotes longevity and lowers risks of heart disease and diabetes.

Another cost that one may consider when relocating to a new country is the average price of groceries. To simplify things, the following table showcases a pricing list by Numbeo of numerous essential items. Numbeo’s list is regularly updated as prices change.

Transportation

Greece has several means of transportation both between cities and within them. Athens is well-known for its tram system, which links several areas together. A one-way ticket for local transport in Greece should cost around €1.20, with a monthly pass costing around €30.

2. Education in Greece

Greece has an amazing education system. Education is obligatory in Greece from the age of six to sixteen. There are six-year elementary schools, three-year lower secondary schools, and non-compulsory upper secondary schools, with the latter focused on either technical or academic fields.

Greece has many non-compulsory public and private preschools and kindergartens; however, most Greek children attend public schools. Children can begin going to preschool at the age of two and a half, then enter kindergarten until starting primary school.

International schools

When considering relocating to Greece with a family, keep in mind that most foreign schools are in Athens or Thessaloniki. There are also a variety of languages available to study in, including English, German, French, and Japanese. The schools in Athens offering an English curriculum are Campion School, American Community Schools of Athens, International School of Athens, and Saint Catherine’s British School.

Around 15 schools in Greece offer an International Baccalaureate Degree following the Swiss curriculum, which allows students to continue their higher education in colleges outside of Greece after graduation.

3. Healthcare in Greece

There are two primary forms of healthcare in Greece; public and private. Citizens and residents of Greece have free or low-cost access to public healthcare. In Greece, there is a unified healthcare system funded by a social security organization known as EFKA, which offers free healthcare to everyone in the country.

Public healthcare

Living in Greece as an expat is an adventure, and knowing the local language is advantageous. However, in most major Greek cities, including Athens, it is possible to find English-speaking healthcare personnel at public health clinics. Unfortunately, this is not the case for smaller towns and islands.

The Greek public healthcare system provides a variety of services, including:

• Public health surveillance;
• Environmental health management;
• Infectious illness control;
• Services for laboratories;
• General and specialized medical treatment;
• Hospitalization;
• Drugs and medications at a discount;
• Maternal care;
• Transportation;
• Medical equipment.

The public healthcare system in Greece is known as ESY, and it offers free healthcare to both citizens and foreign residents. If you are unemployed, an EU citizen, or an expat, you are still eligible for the ESY. If you work in Greece, your contribution rate for public healthcare is around 30 percent of your wage, and organizing it is the duty of your employer.

Unlike in most other countries, you do not need a referral from your family doctor to see a specialist. However, there may be substantial wait times for receiving treatment.

Private healthcare

Due to the superior facilities and services offered, locals and foreigners often opt for private healthcare over the public system in Greece.

You can select between complementary private health insurance that covers what the public system does not or an all-inclusive plan that offers comprehensive coverage.

Private healthcare facilities and equipment are often newer than public healthcare facilities. Furthermore, medical personnel in private institutions are more likely to speak English. Some private hospitals have cross-collaborations with American hospitals or with hospitals in other countries.

Here are the services provided under private health insurance, aside from a broad spectrum of primary healthcare:

• Advanced dental care;
• Treatment in the best hospitals in Greece;
• Cosmetic procedures;
• Fees are required to see a specialist

In rare situations, you may be allowed to use your private insurance from your home country to cover you in Greece.

4. Weather in Greece

With its Mediterranean climate, Greece boasts warm, dry summers and mild, wet winters. The allure of its temperate weather is a significant attraction for those seeking to settle in its picturesque landscapes. Sun-drenched days and pleasant evenings make Greece a desirable destination year-round. Its inviting climate beckons people from across the globe to call it home, where they can enjoy its natural beauty and outdoor lifestyle.

5. The Greek cuisine

Greek cuisine provides a compelling reason to move to Greece due to its exquisite flavors, rich history, and emphasis on fresh, wholesome ingredients. From the iconic souvlaki to the hearty moussaka and vibrant Greek salads, the culinary landscape offers a diverse and delicious experience.

Living in Greece allows for daily access to authentic tavernas, bustling markets brimming with local produce, and the opportunity to learn traditional cooking methods from seasoned chefs.

Cons of Living in Greece

1. The Greek job market

After suffering a significant economic setback during the 2008 global financial crisis, Greece’s economy has steadily recovered over the last decade. Unemployment rates were at an all-time high, while real estate values were at an all-time low.

However, owing to the unwavering Greek workforce and several government measures aimed at attracting investors, such as the Greece Golden Visa, the country has since been on its way to resolving its economic issues.

The job market is a difficult hurdle to overcome for expats in Greece since few multinational corporations are operating in English. Having said that, the Greek government still encourages foreigners to work in the country, particularly in international corporations or the tourism industry. Greece seems to be on a growth path, and prospects are good for anyone looking to live in the country. Although it may be challenging, it is not impossible to get a steady job in Greece.

Many expats in Greece work as English teachers since it is a highly sought-after profession, particularly in suburban areas and on some remote islands. Professional English teachers can expect to earn between €1200 and €1800 monthly, which may be considered low compared to average salaries for teaching jobs in the USA, but not when considering the average cost of living.

The minimum average salary in Greece

Greece’s minimum average salary is €758.33 per month, considered low for a developed country. Most Greeks who earn less than the minimum salary live in family homes or inherited houses, which facilitates living on such a modest salary.

The expected average salary in Greece

The median monthly wage in Greece ranges from €1,428 to €2,788 depending on the position and applicant’s experience. The table below lists certain occupations and their average salaries in Greece:

2. Learning the Greek language

While speaking Greek certainly enhances the experience of living in Greece and can facilitate communication in certain situations, it’s not strictly necessary to speak Greek to live there. In major cities and tourist areas, many people, particularly those working in the service industry, speak English, and signage often includes English translations. Additionally, there are expatriate communities where English is widely spoken.

That said, learning how to speak Greek can greatly enrich your experience and help you navigate everyday life more easily, especially in smaller towns or rural areas where English proficiency may be less common. It can also deepen your connection to the local culture and foster stronger relationships with Greek-speaking neighbors and colleagues.

3. Greek bureaucracy

Greek bureaucracy is one of the worst aspects of living in Greece. Not only is is overly complex, but it’s also time-consuming. Typically, the processes entail extensive paperwork, multiple approvals, and visiting different government offices.

On top of that, you will encounter numerous delays while waiting for your permits, licenses, and applications. Unfortunately, this issue is prevalent in all Greek public sectors, including healthcare, education, property registration, and taxation.

Companies in Greece may also suffer because of Greek bureaucracy, as this can slow down projects and have a huge impact on business developments, especially with foreign companies.

The Greek government has made efforts to improve the state of Greek bureaucracy by introducing online platforms which simplify the process, but there’s still work to be done on that front.

4. Greek infrastructure

One of the major issues in Greece is its infrastructure.

The biggest issue, by far, is the old road network which isn’t well-developed and it’s under-maintained. Naturally, this leads to huge traffic jams and delays in transportation. Precisely because of that, road safety is a huge concern in Greece.

Public transportation, although cheap, isn’t well-connected with all parts of Greece and you might be forced to look for alternative options if you want to reach more rural areas.

The railway system isn’t on par with the quality of other European countries. The issues, namely, include speed and reliability.

Ports are typically overcrowded and suffer from having outdated facilities and tools. Greece, precisely because of that, doesn’t have the best trade and travel options.

5. Tourist overload

During the season, Greece can be overcrowded with tourists, especially in popular destinations like Athens, Santorini, and Mykonos. These attractions attract millions of travelers each year, and this can have a drastic effect on your day-to-day life. Not only will you struggle with sightseeing iconic locations such as the Acropolis and the ancient ruins, but this also has an impact on transportation and dining options.

If you have a problem with that, it’s highly recommended you live in more rural areas of Greece or smaller cities where the crowds won’t be as big.

Moving to Greece: The Visa Options

EU/EEA and Swiss citizens can move to Greece without a visa. The only requirement for these individuals is to register their establishment of residence in the country.

Non-EU/EEA or Swiss citizens who wish to relocate to Greece must apply for a long-stay residence visa (National D Visa) and a residence permit.

To apply for a long-stay visa, you must gather the documentation and go to your nearest Greek Consulate or Embassy.

Here are the best visa options for for expats moving to Greece:

Financially Independent Person Greece

The Financially Independent Person Visa (FIP) in Greece is a renewable residence visa designed for non-EU citizens who have enough financial means to cover their cost of living expenses in Greece.

It’s important to note you don’t have to make a direct investment into Greece, but you have to prove you have enough financial means to cover your expenses without working. Salary and business income are not eligible under this program.

Instead, you need to have a passive income like pension, long-term rental income, dividends, or royalties. The main applicant needs to consistently earn at least €2,000 each month to get a Financially Independent Person Visa. The amount is increased by 20 if they are accompanied by a spouse and an additional 15 percent for each child.

Another way to get a Financially Independent Person Visa is by proving you have enough savings. Currently, the threshold is €48,000, but the amount of money needed will increase in case of an accompanying family.

Greece Golden Visa Program

Greece implemented a Golden Visa scheme in 2013. This residency by investment program allows non-EU/EEA and non-Swiss citizens to gain permanent residency in Greece in exchange for an investment there.

One of the most straightforward routes for obtaining a Golden Visa in Greece is to make a real estate investment in the country amounting to at least €250,000. Other attractive investment routes include government bonds and venture capital funds.

After making their Greece Golden Visa investment, foreigners are awarded a permanent residence permit, renewable every five years.

If they reside legally in Greece for seven years, Golden Visa investors can qualify for Greek citizenship by naturalization, provided they fulfill the minimum residency and language requirements.

Greece Digital Nomad Visa

Another great way to start your life in Greece is by getting the Greece Digital Nomad Visa. This visa allows remote workers who are not EU nationals to work and live in Greece while working for companies or clients outside Greece.

The easiest way to qualify is to provide paperwork showcasing you’re self-employed or employed by a business outside Greece and that you have sufficient financial means to live in Greece. Typically, the threshold for financial means is €3,500.

You can stay with the Greece Digital Nomad Visa for one year, and you can extend it for up to two years. Also, please note that you’re not allowed to look for a job within Greece while holding this visa.

Obtaining Permanent Residence in Greecce

After legally living in Greece country for seven continuous years through the Golden Visa or the Greece Digital Nomad Visa, you can apply for a permanent resident permit, provided you meet the requirements. You can also obtain Greek citizenship through the naturalization process.

Just note that you must have physically lived in the country for at least 183 days of each year and demonstrate fluency in the Greek language. You may also be required to pass a Greek citizenship test.

The Most Popular Greek Cities For Expats

The country’s affordability only improves with time; the longer you stay, the cheaper things appear to get as you master the wonderful Greek technique of living more while spending less. It’s a great place to live a healthy lifestyle, the landscape is stunning, and the Greeks are some of the nicest and most helpful people you’ll ever meet.

1. Athens

Most expats in Greece opt to live in Athens, one of the world’s oldest cities. It has a population of almost four million people and is located near the Aegean Sea’s Bay of Phaleron, home to Athens’ port, Piraeus.

Even though Athens was severely impacted by the economic crisis, it has been steadily rebounding over the years, particularly in the real estate sector. Average incomes in Athens are higher than elsewhere in Greece.

Because of its closeness to the bustling port of Piraeus, Athens accounts for more than half of all jobs in Greece, particularly in handicrafts and manufacturing.

2. Thessaloniki

With a population of almost 800,000, Thessaloniki is Greece’s second-largest city. The city was established in 315 BCE and named after Alexander the Great’s sister. With the establishment of petrochemical factories, oil refineries, and steel mills in the 1960s, Thessaloniki evolved as a significant industrial city. It also exports a significant amount of chrome, agricultural goods, and manganese.

A devastating earthquake in 1978 damaged much of the city, and it experienced a heavy economic hit during the economic crisis back in 2008. However, on a more positive note, Thessaloniki has demonstrated good growth, which increased investors’ confidence in recent years.

If you choose a slightly smaller city with a rich history and a robust economy when relocating to Greece, Thessaloniki could be the right place for you.

Paying Taxes in Greece

Although personal taxation in Greece stands at between 9 and 44 percent, and the Greek Investment Index sits at 42.2 percent, an enticing benefit of living in Greece is that non-residents get various tax breaks. That said, if you are a non-resident in Greece, you must only pay taxes on any income earned inside Greece. In other words, all foreign income is tax-free.

• If you meet at least one of the following requirements, you must pay taxes in Greece:
• Having spent more than 183 days in Greece in any calendar year;
• Having a permanent address in Greece;
• Having a company or investment in Greece;
• Working or engaging in any professional activity in Greece.

Greece Taxpayer Identification Number

After relocating to Greece and getting a job there, you must apply for an Arithmos Forologikou Mitroou (AFM), a taxpayer identification number which you will need to open a bank account, and organize utility payments and other financial obligations in Greece.

You must apply for your tax identification number at your local tax office. Filling out the M1 Form and carrying your passport is usually enough, but always check with your local tax office to see if more documents are required.

Types of taxes in Greece

There are four types of taxes in Greece:

1. Personal Income Tax
2. Capital Gains Tax, taxes on lottery gains, inheritance, and real estate property transfer
3. Social Security Tax
4. Value Added Tax (VAT), levied on the pricing of goods and services in the country

The rates of taxes differ greatly depending on your income and capital gains. It can range anywhere from 9 percent on employment income up to €10,000 to 44 percent on income exceeding €40,000. The following are detailed tables of income and capital gains taxes in Greece as of 2024:

Income tax on employment salaries, pensions, business, and professional income:

Income tax on real estate:

Income tax on capital gains (dividends, royalties, interest):

Greece flat tax regime

In December 2019, Greece implemented a new non-dom tax regime, which provides foreign nationals who transfer their tax residence to Greece the opportunity to exclude foreign income from taxation. Instead, they can fulfill their tax obligations by paying a fixed annual fee of €100,000. A distinct feature of the non-dom regime is that the tax exemption is extendable to relatives of the non-dom resident, provided they pay an additional annual fee of €20,000 per resident.

Opening a Bank Account in Greece

After moving to Greece, it is important to open a Greek bank account. This will allow for convenient management of your finances, including receiving your salary from a Greek employer, as it will be directly credited to your Greek bank account. Even if you are self-employed, you will need to open one to qualify for a residence permit, and having one will only make life easier in Greece.

Opening a bank account in Greece is simple; just go to any bank with your passport and taxpayer identification number. Remember, each bank can provide a list of documents you must bring, so you may want to check beforehand.

The most well-known banks in Greece are Eurobank, Alpha Bank, Piraeus Bank, and National Bank of Greece.

Frequently Asked Questions About Living in Greece