Greece is ranked in the top 5 most desirable retirement destinations. This list covers countries with the most stable retirement for recent retirees who want to retire abroad.
Greece’s Rating
The cost of living remains a significant draw; while subject to inflation, Greece generally remains more affordable than many Western European and North American countries. A single retiree can typically live comfortably on a budget of €1,200 to €2,000 per month, depending on lifestyle and location.
Specifically, monthly rent for a 1-bedroom apartment in a city center like Athens ranges from €480 to €800, while outside city centers, such as in smaller towns or on islands, it’s typically between €390 and €600.
Living Costs in Greece
For groceries, a basic basket averages around €30 to €50 per week, or €120 to €200 per month. Dining out can be inexpensive, with a meal at a taverna costing €8 to €15 per person, while a three-course meal for two at a mid-range restaurant might cost between €37 and €80.
Golden Visa in Greece
The International Living report shows that housing in Greece is up to 75 percent cheaper than US prices. One woman who recently moved to the island of Syros with her husband said that “We chose Greece because it is one of the few countries with a Golden Visa option based on property rather than on making a large investment in a business. That plus the warmer winters sealed the deal.” She also noted the exceptional climate and convenience of the short distance from the sea — something they didn’t have back in the United States.
Health Care for Retirees in Greece
In terms of healthcare, private health insurance premiums typically range from €50 to €150 per month, depending on the coverage. A private doctor’s visit usually costs between €40 and €80, while a specialist consultation can range from €80 to €150.
Greek Lifestyle
Beyond the tangible benefits, Greece offers a lifestyle that truly enhances retirement. Embrace the “siga, siga” (slowly, slowly) pace of life, a refreshing change from the often-hectic Western world, though a little patience may be needed when navigating local bureaucracy. The renowned Mediterranean diet, rich in fresh, local produce, olive oil, and seafood, isn’t just delicious; it’s a foundation for a healthy and active golden age.
While English is widely spoken in tourist areas and among younger generations, learning even basic Greek phrases can significantly enrich your daily interactions and foster a deeper connection with the warm and hospitable locals. You’ll find vibrant expat communities in popular spots like Athens, Thessaloniki, Crete, and Corfu, providing a ready-made social network, yet ample opportunities to immerse yourself in the rich Greek culture and traditions.
Foreign Pensioner Program in Greece
Back in 2020, Greece started a program to attract new pensioners to Greece, promising a flat rate of 7% for those who change their tax residence to Greece. Assuming approval of a pensioners application, the tax rate is applies for a period of ten years. For more information, contact a tax professional.
