Those who have visited Greece at least once dream of returning or staying here to live. With 300 sunny days a year, beautiful beaches, numerous attractions, relatively low prices, delicious food, and the hospitality of the locals, what more could one ask for? However, immigration is not just an extended vacation: you will need to adjust your usual way of life in a new place. As in any other country, Greece has its own problems, and they should be considered when planning a move. We discuss the pros and cons of living in Greece in the Astons Greece blog.
Standard of Living in Greece
Greece ranks 33rd in the UN Human Development Index and 40th in the Legatum Prosperity Index. The life expectancy in the country is about 80 years. Economic growth is gradually recovering from the 2008 crisis: analysts forecast GDP growth of 1.4% in 2024, wage increases, and a decrease in unemployment.
In terms of quality of life, Greece is only slightly behind Scandinavian countries, Switzerland, or the United Kingdom. It can be said that it is a “golden mean” between the north and the south, with an optimal level of living costs, safety, education and healthcare, infrastructure, and environmental conditions. Moreover, Greece offers one of the most affordable investment residence permit programs for property purchases.
Cost of Living in Greece
How much does it cost to live in Greece? This is one of the most popular questions among those planning to move to Greece. At the time of publication, the minimum wage is €910 per month, and the average salary in Greece ranges from €1,400 to €1,600. At the same time, the cost of living in Greece is lower than in other EU countries. According to Numbeo, the average expenses for one person, excluding rent, are €800 per month, and for a family of four — €2,775.
Comparison of Living Costs in EU Countries
| Country | Expenses for 1 person (excluding rent), € per month | Expenses for a family of 4 (excluding rent), € per month |
| Switzerland | 1,544 | 5,650 |
| Germany | 980 | 3,325 |
| United Kingdom | 960 | 3,245 |
| France | 953 | 3,395 |
| Sweden | 895 | 3,280 |
| Italy | 855 | 2,985 |
| Greece | 810 | 2,775 |
Pros of Living in Greece
Climate and Nature.
Greece mainly has a Mediterranean climate: summers are hot and dry, with air temperatures in July-August reaching 35°C. Winters are usually wet and mild, with the thermometer rarely dropping below 5°C. Snow falls rarely, mainly in the mainland closer to the mountains. The best time in Greece is from April to late May and from September to October: the air temperature is a comfortable 23-25°C, and a light sea breeze blows. Summer is ideal for those who love heat and sun.
The nature of Greece includes picturesque mountain peaks, gorges and canyons, caves and waterfalls, valleys covered in greenery, a jagged coastline, and the clearest sea. Greece owns more than 2,000 islands, of which only 227 are inhabited. The country is ideal for outdoor enthusiasts: thanks to the diversity of the terrain and natural attractions, you can find activities for every taste.
History and Culture.
Greece is one of the oldest countries in Europe and is considered the cradle of European civilization. Its rich cultural heritage has had a colossal impact on the world: democracy and philosophy, economics and the open market, theater and the Olympic Games all originated here. The Acropolis of Athens, the fortress of Rhodes, the Palace of Knossos, and the Temple of Apollo at Delphi are just a few of the world-famous Greek landmarks. The country has 18 UNESCO World Heritage sites and 14 more candidates for this list.
Safety.
Greece has a low crime rate, with most offenses related to petty hooliganism and theft, mainly in large cities and tourist areas.
Education.
Public higher education in Greece is free: students only pay an annual fee of €800-€900, and degrees obtained in local universities are highly regarded in Europe and the world.
Good Ecology.
Greeks pay great attention to environmental protection: the ecological situation here is one of the best in Europe. The country actively develops alternative energy sources: Greece has many wind farms and not a single nuclear power plant. Air pollution is observed only around the capital and the agglomeration, which is not surprising: almost 30% of the country’s population lives in Greater Athens.
Greek Hospitality.
Greeks are hospitable to foreigners, so most immigrants feel comfortable in the country. Locals love and know how to have fun: there are many different holidays and festivals, celebrated on a grand scale.
Large Expat Communities.
Immigrants most often choose Athens, Thessaloniki, and Crete for living. It is relatively easy for newcomers to adapt here: both locals and expats are always ready to give advice and support in any situation.
Mediterranean Cuisine.
Greek cuisine is a phenomenon that deserves attention. The most popular ingredients, without which almost no local dish is prepared, are olive oil, cheese, vegetables, fish, and seafood. High-quality farm products can be found almost everywhere at affordable prices.
Cons of Living in Greece
Of course, life in any country has its disadvantages. Greece has its problems as well.
Economic Problems of Greece. The country is still experiencing the consequences of the 2008 economic crisis, affecting economic growth and other areas of life. Despite this, the economy is slowly but surely recovering, and the Greek government is taking sensible measures to address emerging problems.
Unemployment. One of the consequences of the crisis is the high unemployment rate. Greece has one of the highest rates in Europe: 10.5%, and among youth — 22.5%. Finding a well-paying job outside of tourism, the service industry, or maritime affairs is quite difficult, especially for foreigners.
Bureaucracy. Like many other European countries, Greece’s bureaucratic machine is quite slow and requires updating. This leads to delays in solving administrative tasks and queues in government and budget institutions.
Language Barrier. In big cities and major tourist centers, many people know English, but the further from the capital, the more useful knowledge of Greek will be; it also helps to adapt to life in a new country faster. In official and budget institutions, it is impossible to manage without the state language — otherwise, you will have to use the services of a translator.
Features of Life in Greece: Mentality and Pace of Life
Life in Greece is measured and unhurried; locals do not like fuss and are never in a hurry. One of the favorite Greek sayings — “siga-siga” — means “slowly but surely.” Due to the climate, from 14:00 to 17:00 — during the hottest time of the day — life in the country comes to a halt. In Greece, the daytime rest, mesimeri, has become a way of life: Greeks get up early, take a break during the day, and return to work in the afternoon. During this period, most government institutions, restaurants, cafes, and shops are closed, although in major tourist centers, many continue to work, not wanting to lose customers. According to the law on silence, it is forbidden to make noise from 15:00 to 17:30 in the summer and from 15:30 to 17:30 in the winter.
Greeks have two major values: family and religion. Greeks try to spend more time with their loved ones, preferring family gatherings to noisy parties with strangers. The biggest holidays are religious: Easter is celebrated more widely than the New Year, and the saint’s day, or name day, is a much more important holiday than a birthday, which many celebrate only at 18.
For those who want a more dynamic pace of life, Athens, Piraeus, Heraklion, and Thessaloniki are perfect — these are large cities and tourist centers where life is bustling day and night.
Moving to Greece: Greece’s Golden Visa for Property Purchase
Greece’s Golden Visa remains the fastest and most effective way to establish yourself in the country. Foreign investors can obtain a Greek residence permit for 5 years immediately when purchasing real estate worth from €250,000 (in 36 municipalities, including Athens, Thessaloniki, Mykonos, and Santorini, the minimum threshold is €500,000).
The program does not set mandatory residency requirements — you can come just once to submit biometric data and spend the rest of the time living in your home country while enjoying all the benefits of a European residence permit:
- Travel to Schengen countries without visas;
- Use the services of local and international banks;
- Access medical care and education in Greek universities;
- Have a reliable backup plan in case of new geopolitical upheavals for yourself and your loved ones;
- Live in a safe European country with a high standard of living.
In the future, if certain requirements are met, the resident can apply for permanent residence and Greek and EU citizenship.
The property can be used for living or rented out. Requirements for the investor:
- Age — from 18 years old;
- No criminal record or entry ban to Greece and EU countries;
- No dangerous diseases;
- Health insurance coverage of at least €30,000.
Family members — spouse, children, and parents — can be included in the application.
From September 1, 2024, changes to the program will come into effect: the minimum investment threshold will increase to €800,000 in major regions of the country and €400,000 in all others. Currently, you can still participate in the program at the old price by making a 10% deposit of the property’s value by August 30 and completing the investment by December 31, 2024.
Greece has suspended accepting applications from Russian and Belarusian citizens, but with a Russian passport, you can still obtain a Greek residence permit and do so before prices rise: an alternative passport from a neutral country — for example, Vanuatu — will allow you to complete the investment before the deadline.
Astons is a licensed agent for Vanuatu’s citizenship by investment program and also provides full support for obtaining Greece’s Golden Visa — from selecting property and preparing the document package to obtaining the residence permit card. Contact our specialists for a free consultation — we will select options that fit your budget and preferences.