Greece is a sought-after destination, not only for tourists but also for those considering a more permanent move abroad. But is Greece a good place to live? There are plenty of pros in favor of moving to Greece. Many people are choosing Greece as their retirement location or a temporary base for remote work, drawn by the nation’s awe-inspiring marine landscapes, rich history, charming towns and villages, and delicious Mediterranean cuisine.
Greece has its fair share of cons as well. In contrast to its natural beauty and amazing potential, the country’s administration and logistics is ridden by bureaucracy, inconsistencies and a weak job market.
Surprisingly, 8% of Greece’s residents and island dwellers are now non-Greek, and a growing number of Americans are making the transition, enticed by the strong dollar’s advantages, which translate into lower housing costs and a more economical cost of living. On average, the cost of living in Greece is 12% less than in the United States, with some expenses being up to 60% cheaper depending on your chosen location.
What are the pros of living in Greece?
- A Relaxing Lifestyle: Greece offers a pleasant climate, stunning beaches, colorful cities, and breathtaking islands. With many months of warm, sunny weather and short winters, the Greek people maintain a good work-life balance, including lengthy siestas to escape the summer heat, numerous religious festivals and ‘name day’ celebrations to participate in, and a strong emphasis on family life.
- Rich Cultural Heritage: Athens alone draws more than six million tourists annually, thanks to its numerous renowned archaeological treasures, including the Parthenon and Acropolis. Exploring the Minoan city of Knossos on Crete is another compelling reason to visit. Both the mainland and Greek islands boast numerous archaeological and historical sites and monuments. For those intrigued by Greek mythology, there are captivating stories and characters to discover, along with rich folklore in many communities.
- Low Cost of Living: Prices in Greece are generally lower than in other EU countries, encompassing Greek housing costs (both buying and renting), public transportation, and fuel. However, prices do vary depending on your choice of location. Popular tourist cities or island hotspots tend to have higher prices, whereas smaller rural areas offer more affordability. Food prices are budget-friendly if you dine like a local, with fresh seasonal fruits and vegetables at reasonable prices. Greek households prefer fresh goods, making daily shopping a way of life.
- Healthy Diet: Greece boasts the traditional Greek diet, flavorful and nutritious, rich in fiber, antioxidants, healthy fats, and vitamins. Seasonal plant-based foods, nuts, seeds, legumes, and whole grains are staples, while fish is consumed abundantly. The high consumption of olive oil, averaging about 1/4 cup daily, contributes to Greece’s reputation for one of the world’s healthiest diets. Coupled with an active lifestyle as people age, the average life expectancy in Greece is an impressive 83 years.
- Good Healthcare: Greece offers excellent healthcare services, although remote islands may have limited access. Emergency services are available free of charge to everyone. Most foreigners opt for private health insurance from local providers, which is both affordable and covers non-urgent treatments. Local pharmacies are a key resource, staffed by knowledgeable professionals who often speak English.
- Low Crime Rates: Greece boasts some of Europe’s lowest crime rates, with opportunistic thefts being the most common crimes, particularly in urban areas and tourist destinations. Violent crime is rare.
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- Tax Incentives for New Residents: Greece introduced a new tax regime for individuals transferring their tax residence to Greece two years ago. This regime offers exemptions from income tax and the special solidarity contribution for up to 50% of employment income or income from individual business activity earned during the first tax year in Greece, subject to meeting certain criteria.
The disadvantages of living in Greece
- Bureaucracy: Greece is notorious for its bureaucratic procedures, involving extensive paperwork not only in government offices but also in healthcare. Expect delays and complexities, but there’s no way around it, as it is one of the most notorious characteristics of Greek life.
- Varied Property Quality: The type of accommodation in Greece varies widely based on your chosen location, from city apartments to rural stone buildings. Always inspect properties in person, checking for available amenities and services. Internet and Wi-Fi may not be accessible in all areas, and electricity supplies can be unreliable in rural regions. It’s crucial to make price comparisons and ensure you have a signed lease contract if you’re renting an apartment or house in Greece.
- Language Requirement: If you intend to apply for Greek residency, speaking Greek is a necessity. Even if it’s not your plan, learning Greek can significantly ease everyday life, especially in smaller towns or rural areas. It’s also essential for working in Greece, but learning Greek can be quite challenging, as it involves mastering a new alphabet.
- Limited Job Opportunities: While the job market in Greece is improving, unemployment rates remain high. Competition for good jobs in Greece is fierce, especially for non-EU citizens. Proficiency in Greek is often required, and obtaining an official sponsor is necessary when applying for jobs or holding the Greek Golden Visa. However, working as a digital nomad for companies based outside Greece is generally trouble-free.
- Tax Complexity: Paying taxes in Greece, whether you’re a local resident or a foreigner, can be a convoluted and time-consuming process. Many people find the tax jargon overwhelming, making it advisable to hire an accountant to navigate the system.
Overall, the advantages of living in Greece far outweigh the disadvantages. You can enjoy a healthy lifestyle at an affordable cost while experiencing the warmth and hospitality of the Greek people.
This article originally appeared on MyDolceCasa and was syndicated by MediaFeed.
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