Living in style, this is about Greece, a land rich in history, filled with stunning landscapes, and known for its relaxed Mediterranean lifestyle that captivates expats and tourists. Whether you’re considering living in Greece permanently or are curious about investment opportunities such as the Greece Golden Visa, this guide provides a comprehensive overview of what it’s like to live in Greece.
- Greece offers a unique balance of cultural heritage, an enjoyable lifestyle, and a perfect climate.
- The Golden Visa program provides an excellent pathway to residency and citizenship.
- Greece’s low cost of living and Mediterranean lifestyle make it a top destination for expats.
- Challenges such as slow bureaucracy can be navigated with proper planning.
- Greece is a safe, family-friendly country with excellent investment opportunities in real estate and not only.
Cost of Living in Greece
Dreaming of living under the Mediterranean sun with a glass of wine and no worries? Greece is your perfect place. But let’s talk numbers here before packing your bags. Greece’s overall cost of living is lower than that of Central and Western European countries and the USA. Here’s a breakdown of what to expect based on data from Numbeo and A Brother Abroad:
Housing
- Renting: A one-bedroom apartment in the city center, such as Athens or Thessaloniki, typically costs €300-€600 monthly. Opting for a quieter town or island? Prices drop to around €250-€400.
- Buying: If you want to own property, expect to pay an average of €1,000 per square meter in less tourist-heavy areas. Coastal properties or those in “Instagrammable” locations like Santorini will require higher prices.
Groceries
- Market Fresh: Weekly groceries cost between €40-€60, depending on your preferences. Local markets are perfect for fresh, affordable fruits, vegetables, and seafood.
- Dining Out: A meal at a local taverna is a must. A meal for two typically ranges from €20-€30, while a coffee at a beautiful seaside café costs around. According to Numbeo, eating out in Greece is 37.5% cheaper than in the United States.
Utilities and Essentials
- Utilities for a small apartment (electricity, heating, cooling, water, and garbage) average €120-€150 monthly. High-speed internet adds around €25-€35 per month.
Transportation
- Public transport is affordable, with monthly passes costing around €30. If you drive, gasoline prices are near €2 per liter. Taxis and ride-hailing apps are also reasonably priced for shorter trips.
Healthcare
- Greece offers accessible public healthcare to residents who contribute to the social security system. However, private health insurance, often preferred by expats for quicker access and English-speaking doctors, ranges from €50-€200 per month, depending on coverage.
In this graph, we visualized the cost of different aspects of life in Greece based on the data from Numbeo.
Greece offers a more affordable lifestyle, particularly in housing, dining, and transportation, making it a cost-effective choice for expats compared to the U.S.
How It Is to Live in Greece as an American
Many Americans choose Greece for its relaxed lifestyle and strategic location in Europe. English is common in tourist areas, but learning basic Greek can make all the difference. Living in Greece as an American can be a unique experience. For many U.S. citizens, the attractiveness of Greece lies in its relaxed lifestyle, lower cost of living, and proximity to the rest of Europe. Whether relocating for work, adventure, or retirement, Americans often find Greece a welcoming and accessible destination.
A Relaxed Mediterranean Lifestyle
One of the most attractive aspects for Americans about life in Greece is the slower pace of life. In contrast to the fast-moving, high-stress style of life in many parts of the United States, Greece offers a very laid-back approach. Americans who emigrate here often appreciate open space, peace, and quiet. The lifestyle promotes a better balance between work, life, and mental well-being. According to a report by Expat Insider 2023, expats ranked Greece highly in terms of quality of life, mainly regarding social relationships and leisure activities. Americans often feel they can relate better with others, enjoying an increased sense of belonging in Greek communities.
Strategic Location for Travel
Greece's location makes it a hub for exploring Europe, North Africa, and the Middle East. Athens and Thessaloniki are well-connected by air, with frequent flights to major European capitals like London, Paris, and Rome. For those who enjoy a quieter life, ferries link Greece's mainland to its many islands, making weekend getaways convenient and affordable.
Language and Communication
English is widely spoken, especially in urban centers such as Athens and Thessaloniki and tourist-heavy areas like Mykonos and Santorini. In fact, according to a study by the EF English Proficiency Index, Greece is ranked as a country with moderate English proficiency, making it easier for Americans to get through day-to-day interactions. In addition, U.S.-based companies and remote workers significantly benefit from Greece's favorable digital nomad visa regime. In 2021, it allowed remote workers from outside the EU, including the United States, to live and work for up to one year, with possible renewal, in Greece.
Greece's Housing and Real Estate Market
Greece’s real estate market is attractive for expats and investors, with steady growth in property values. Greek property prices have steadily risen in recent years, primarily driven by strong demand from foreign buyers and economic development. In 2024, urban property prices increased by 10.76%. While property values have been rising, they remain competitive compared to other European countries, making Greece an attractive destination for investment. Urban areas, especially Athens, are leading the price recovery due to increasing construction activity and international interest.
Market Overview
According to the Official Website of the International Trade Administration, Greece has a growing economy with opportunities in areas like tourism, shipping, technology, healthcare, and energy. Its tourism sector, a significant part of the economy, continues to expand, creating demand for better facilities and digital services. Greece also has a strong shipping industry and is one of the world leaders in maritime trade. The country is modernizing its infrastructure and investing in green energy, making it an attractive market for foreign businesses. U.S. companies, in particular, are encouraged to explore export and investment opportunities in these sectors.
Buying Property in Greece
Foreigners, including non-EU citizens, can buy property in Greece. However, restrictions apply in certain border areas for national security reasons, and buyers may need approval from local authorities to purchase in these zones. Most transactions involve straightforward legal procedures, and Greece offers a wide range of property types, from holiday homes to urban apartments.
If you invest at least €500.000 in property, you may qualify for Greece’s Golden Visa program, granting you and your family residency. Taxes and fees include property transfer tax (3.09%), agency fees (2-2.5%), and notary fees (0.65-1%).
Popular areas to buy include islands like Crete and Rhodes or mainland destinations like Athens. The process typically involves obtaining a tax number (AFM), working with a lawyer, and registering the property.
Schedule your free consultation today and secure your future!
Types of Properties
The types of properties available in Greece vary widely and meet various needs, whether you're looking for investment opportunities, a holiday home, or a permanent residence. Here's a breakdown of common property types:
- Apartments
- Located in cities like Athens or Thessaloniki.
- Popular for urban living and investment due to high rental demand.
- Detached Houses (Villas)
- Found in suburbs or coastal areas.
- Often used as holiday homes or luxury residences.
- Traditional Stone Houses
- Common in rural areas or islands.
- Reflect Greek architectural charm, often renovated for modern use.
- Land
- Available for those looking to build custom homes or invest in agriculture.
- Land prices vary by location and proximity to tourist areas.
- Luxury Properties
- Includes beachfront villas, penthouses, or properties in prestigious areas.
- High demand among international investors.
- Commercial Properties
- Includes hotels, shops, or office spaces.
- Popular for those entering the Greek tourism or business sectors.
- Historic Properties
- Unique offerings like mansions or buildings with cultural significance.
- Typically subject to conservation rules.
Investors are drawn to Greece for its affordable prices compared to Western Europe, beautiful locations, and potential returns through tourism or the Golden Visa program.
Work and Business Opportunities in Greece
While the job market is competitive, sectors like tourism, shipping, and agriculture offer opportunities. Greece's digital nomad visa enhances accessibility for remote workers and entrepreneurs. Greece offers diverse opportunities across several growing industries, making it an attractive destination for professionals and entrepreneurs.
- Key Industries and Growing Sectors:some text
- Tourism and Hospitality: This sector remains a cornerstone of the Greek economy. Jobs in hotels, tour services, and customer service are abundant and often require English skills over Greek. Additionally, there’s a growing demand for specialized tourism areas like water sports and luxury services.
- Technology and Startups: Greece's tech and startup ecosystem has expanded significantly, supported by government incentives and an increasing demand for skilled professionals in software development, data analysis, and cybersecurity.
- Education and Language Instruction: English teaching roles are prevalent, especially for those with certifications like TEFL. There’s also demand for instructors in other languages, such as German, French, and Spanish.
- Real Estate and Investments: The real estate sector attracts both international professionals and investors, particularly in luxury and tourism-related projects. Investment initiatives in infrastructure and urban development also open up avenues for skilled professionals.
- Entrepreneurship and Investment:some text
- Greece has become increasingly attractive for business ventures, particularly in tourism, renewable energy, real estate, and agriculture. Government programs and the ease of starting a business, combined with competitive costs, make it a viable location for foreign entrepreneurs.
- Greece has become increasingly attractive for business ventures, particularly in tourism, renewable energy, real estate, and agriculture. Government programs and the ease of starting a business, combined with competitive costs, make it a viable location for foreign entrepreneurs.
- Work Conditions and Benefits:some text
- Greece emphasizes work-life balance, offering a relaxed lifestyle and reasonable working hours. The cost of living is relatively low compared to other European countries, and expatriates often benefit from tax incentives and high savings potential.
Healthcare and Education in Greece
Greece provides affordable public healthcare and a mix of public and private educational institutions, including international schools in urban areas. Greece's healthcare system is a mix of public and private services and operates on the National Health System (NHS). Greek citizens and EU residents typically access public healthcare for free or at minimal cost. Non-EU residents must contribute to the social insurance fund or purchase private insurance to qualify. Many residents opt for private health insurance to make the appointment process more manageable and have English-speaking doctors, costing about €50–€200 monthly. Expats in Greece have two main options:
- Public Healthcare:some text
- Accessible if contributing to social insurance.
- Recommended for basic and emergency services.
- Private Healthcare:some text
- Highly recommended for quicker access and better service quality.
- Ideal for those requiring regular specialist consultations
Greece has a centralized education system overseen by the Ministry of Education and Religious Affairs. It offers free public education at all levels, from primary to higher education, for Greek citizens and legal residents. Free education is available for all and is taught primarily in Greek, although some bilingual programs exist. Private schools offer an alternative to the public system, providing multilingual instruction, particularly in English.Greek universities are state-funded and tuition-free for Greek and EU students. Non-EU students may have to pay fees.
Social Life and Entertainment in Greece
Greece is popular for its vibrant social life, shaped by its rich history, customs, and lively cultural traditions.
- Social Gatherings and Customs: Hospitality is central to Greek culture, with family and friends gathering frequently over meals or coffee. Greek social life often revolves around outdoor spaces like cafes and tavernas. Greece offers a mix of modern and traditional entertainment, including:some text
- Music and Dance: Traditional Greek music and dance, such as shirataki, are important parts of festivals and celebrations.
- Nightlife: Urban areas like Athens and Thessaloniki have an active nightlife with bars, clubs, and live music venues.
There are many different places to choose from, including lively cities, peaceful countryside spots, quiet fishing villages, and seaside towns. Most importantly, you will meet people who are genuinely friendly and welcoming.
Residency Options and Golden Visa
Greece's Golden Visa program offers residency to investors and their families in exchange for financial contributions. Changes effective January 2025 will introduce a broader range of investment options, including contributions to startups. This program has been popular due to its relatively low thresholds compared to similar European schemes.
Key features include permanent residency for investors, eligibility for citizenship after seven years, and visa-free travel within the EU. Earlier, the program’s entry threshold for real estate investments started at €250,000 but may now increase for some high-demand regions.Check this graph that visualizes the increase in Golden Visa applications from the USA over time.
For more details about obtaining a Greece Golden Visa, see our article on Greece Golden Visa—Residency by Investment.
Greece Golden Visa Program, Residency by Investment Options, Long Term Residency Benefits.
Investment Requirements
The minimum real estate investment required for the Golden Visa applicants is €500,000, which has recently been increased from €250,000 in some areas due to increased property values. Moreover, starting in September 2024, Greece's Golden Visa program introduced a higher minimum investment threshold of €800,000 for properties in prime areas, including Athens, Thessaloniki, and sought-after islands such as Mykonos and Santorini. The following are some of the investments that are qualified for the program:
Residential or commercial real estate purchases
Investment options can include hotel accommodations or tourism facilities. These investment options make the program flexible and suitable for various financial strategies. For instance, some investors choose properties in Athens or Thessaloniki, while others prefer famous tourist areas like Crete or Santorini for rental income potential.
Residency Benefits
The Golden Visa comes with numerous advantages: Residency Permits for Family Members: The same application makes immediate family members, including spouses, children under 21, and parents, eligible for residency.
Visa-Free Travel: Golden Visa holders can travel visa-free across the Schengen Zone, comprising 27 EU countries.
No Mandatory Residency
Unlike many residency programs, Greece does not require Golden Visa holders to live in the country full-time.
Pathway to Citizenship
After seven years of uninterrupted residence, Golden Visa owners can apply for Greek citizenship, subject to specific conditions, such as language competence and knowledge of Greek culture.
Greece has always been at the top of the list of countries expats desire to relocate to. With its sunny climate, rich cultural heritage, and vibrant social life, it has become an attractive location for many willing to invest money to gain a Golden Visa. For families, Greece is a safe environment with a great emphasis on community belonging.
The Greek real estate market is attractive for investors, with high returns in urban and tourist-heavy areas. Greek property prices remain relatively affordable compared to other Mediterranean destinations, such as Spain or Italy, and they boast a steadily growing appreciation rate. For instance, Eurostat estimates that property prices in Greece increased by 9.4% on average in 2022 amid increasing demand from foreign investors. Coastal property and villas on islands are perfect for holiday accommodation.
How Mirabello Consultancy Can Assist You in Moving to Greece
While the Greece Golden Visa program is relatively straightforward, the associated legal and administrative formalities can be tricky, particularly for non-residents. This is where the professional consulting firm Mirabello Consultancy comes in handy. Our company specializes in residence and citizenship by investment solutions, with end-to-end consulting support in the application process.
Among the services included are:
Customized Investment Advice: Identifying profitable real estate opportunities that fit the client's goals.
Comprehensive Application Support: Ensuring all documentation is accurate and submitted on time.
Post-Approval Services: Residency renewals, tax planning, and long-term investment management.
Our Consultancy provides personalized advice to each client to achieve residency and citizenship goals. Specializing in programs such as the Greece Golden Visa, Mirabello Consultancy offers tailored advice on investment opportunities, such as real estate. For more information on how our consultancy can help you enjoy your dream life in Greece, please visit the Mirabello Consultancy website.
If you’re ready to take the first step toward a new chapter in Greece, Mirabello Consultancy is here to guide you. From selecting the right investment to settling into your dream lifestyle, we make the process smooth, efficient, and stress-free. Visit our website for more information and start your journey now. With Mirabello Consultancy, it's not just an investment but a new way of life, rich in opportunities and experiences only Greece can offer.
FAQ
Foreigners can buy property in Greece without restrictions, even if they are not from the EU. However, owning property doesn't automatically give the right to live in Greece permanently.
- General information on entry visas
- Schengen visas
- Greece employment visa
- Tourist visa
- Digital nomad
- Greece visa exemption
- Residence and work permits
- Transit visa
- Issuance of a residence permit
- Residence permit renewal in Greece
Greece is a safe country with one of the lowest crime rates in Europe.
