Cost of Living in Greece: The Ultimate Guide

In the United States and much of Western Europe, the pursuit of a high quality of life is often tied to long hours, high stress, and relentless hustle.

But that lifestyle often comes at a high price – sacrificing peace of mind and time with family.

Things are different in Greece.

With over 250 days of annual sunshine, a low-stress Mediterranean rhythm, and more than 2,000 islands scattered across its turquoise coastline, Greece offers more than just postcard beauty. It represents a compelling lifestyle choice for anyone seeking balance, affordability and access to Europe.

This is a country where world-class cuisine, ancient history and legendary hospitality coexist with modern infrastructure and attractive residency incentives.

For high-net-worth individuals (HNWIs), Greece’s flat-tax regime, Golden Visa program and cost-effective living expenses create a powerful combination of lifestyle and financial appeal.

While the Greek economy has weathered challenges in recent years, its recovery has brought stability, investor interest and renewed global confidence – all without pricing out newcomers.

In this comprehensive guide, the Nomad Capitalist team breaks down key factors such as housing, food, transportation, healthcare and residency options to give a clear picture of what life in Greece truly costs and reveal why it continues to attract globally minded investors, retirees and entrepreneurs alike.

Greece Cost of Living: Overview

This ancient European nation has faced some difficult economic challenges. The Greek Debt Crisis in 2008 led to an extended recession and a humanitarian crisis, with people struggling to access funds and maintain their livelihoods.

Since then, Greece has implemented significant reforms, including tax cuts, to attract investors.

The success of these efforts is evident in the increasing number of applications for the Greek Golden Visa program, reflecting renewed investor confidence.

Greece has soared in popularity with tourists in the last five years, with hotspots like Santorini seeing an influx of visitors.

Despite its growing popularity, Greece still offers a low cost of living, with average rental prices around 38% lower than in the US.

On average, a single person’s monthly living expenses are around €795, and a family of four will need around €2,750.

Unsurprisingly, the capital, Athens, is the priciest region in Greece, but it is still inexpensive compared to London or Milan. Popular islands like Santorini and Mykonos are also expensive compared to other Greek islands.

Greece Cost of Living: Renting and Buying Property

Accommodation prices in Greece decreased significantly during the economic crisis but are now recovering.

However, rental and purchase prices remain quite affordable – on average, a one-bedroom apartment costs just €500 a month (this will vary significantly depending on where you live).

Property prices are also attractive, with city centre apartments averaging €2,720 per square metre and those outside the centre around €2,280.

As with other European nations like Ireland and Portugal, Greece is tackling a housing crisis – exacerbated by foreign real estate investment and a lack of property supply, which has led to the current market strain.

Foreign investors, obtaining Golden Visas through property purchases, have removed over 20,000 units from the long-term rental market, intensifying competition and driving prices even higher.

Here’s a quick overview of housing costs in Greece:

Athens Average Prices

Greece’s historic capital, Athens, typically has the highest property costs:

• Rent: €558 per month for a one-bedroom apartment in the city 
• Buying: €3,262 per square metre.

Santorini Average Prices

Known for its whitewashed charm, the most visited Greek island has become a pricey real estate location:

• Rent: €1,430 per month for a one-bedroom apartment in the city 
• Buying: €4,50 per square metre².

Larissa: Average Prices

Located in Central Greece, Larissa offers a cheaper alternative to the tourist hotspots:

• Rent: €340 per month
• Buying: €2,450 per square metre.

Greece Cost of Living: Utility Costs

Generally, costs for essentials like electricity, water, and internet are reasonable in Greece.

The monthly cost of internet is about €30, while utilities for an 85-square-metre apartment cost, on average, €192, depending on size, season and usage.

Many find these costs noticeably lower than in the United States, the UK and several northern European countries. 

Anyone who owns a property in Greece pays a tax for the privilege. The Uniform Real Estate Property Tax (ENFIA) is paid on an annual basis and is based on property size (e.g., a 100-square-metre home will be taxed at around €300, depending on the location).

Although locals often complain about this tax, compared to the UK, where you pay into the thousands, it’s fairly reasonable.

Average utility costs are:

• Electricity, heating, water and bins: average around €192 per month 
• High speed internet: between €30 to €50 per month
• Mobile data: €20 per month.

These expenses will vary depending on household size and usage.

Greece Cost of Living: Food

At the beginning of the year, Greece’s inflation rate was up 2.7%, with a slight increase in the price of food and beverages, mainly meat, fresh fish, dried fruits and nuts, frozen vegetables and coffee.

For the most part, groceries in Greece are still affordable, especially locally grown fresh produce.

Some basic food prices you can expect:

• Milk 1 litre €1.49
• Loaf of fresh bread €1.24
• Eggs x12 €3.92
• Water 1.5 litre €0.78
• Bottle of wine €8.00
• Domestic beer €1.75.

To truly enjoy Greek cuisine, seek out local tavernas that serve fresh, homemade dishes and explore regional variations. For an authentic experience, try Kostas in Athens or all of Souvlaki in Thessaloniki.

Home-style dishes like mayirefta are staple offerings. Popular options include yemista (stuffed vegetables), lemonato and moussaka.

A typical meal in Athens will cost between €20 and €44. You can enjoy your morning coffee for €3, and breakfast out will set you back around €10.

Greece Cost of Living: Healthcare Costs

In Greece, expats can access public healthcare systems and private healthcare services, and they have a better chance of finding English-speaking care in city centres.

Public healthcare is free for all residents, including expats and EU citizens, although long waiting lists for specialists are common. To access public care, expats must contribute to public health insurance and have a social security number.

A requirement of the Greek Golden Visa (which we explore later) is holding Greek health insurance, a cost that needs to be factored in.

Private insurance costs vary based on factors like age and coverage area. The average policy can range from €30 to €210 per month.

Greece Cost of Living: Transportation

The birthplace of the Olympic Games, Greece is used to catering to visitors from all over the world.

Today, there are 15 airports and an extensive public transportation network connecting mainland Greece with its many islands.

Travelling in Greece is generally affordable, and there are plenty of public transportation options, such as boats, buses, scenic trains and yellow taxis.

As an expat, getting car insurance is essential if you intend to drive. Check the insurance coverage for hired cars, as rental costs can be high.

The busiest airports in Greece include Athens Airport (ATH), Heraklion Airport (HER), Thessaloniki Airport (SKG) and Rhodes Airport (RHO).

Here is a snapshot of transport costs in Greece:

• A standard monthly pass for the bus: €30.00
• Intra-city bus tickets: €1.10 – €1.80
• Taxis base fare: €4 and €1 per kilometre
• Train: €10 to €30 (depending on the distance)
• Domestic airline ticket: Athens to Kos averages between €100 and €200.

Taxes in Greece

If you choose to spend over 183 days in Greece, you will be considered a tax resident. Other factors contributing to your residency status include asset ownership, citizenship, social security registration and family presence.

Regular tax rates range from 9% to 44% and apply to income sourced in Greece.

However, if you live in Greece for six months or more, you can benefit from a flat-tax regime ideal for those earning over €1 million in offshore income. The flat tax is a fixed €100,000 annually, plus an additional €20,000 for adult family members, while minor children are exempt.

The flat-tax regime lasts for 15 years, with no physical presence required. To qualify, you must invest at least €500,000 in real estate or similar.

Greece also offers a flat tax rate of 7% for foreign retirees of various income types for ten years. This applies to pensioners from countries with a double taxation treaty with Greece, including the US, UK and many European nations.

How to Get Residency in Greece

Greek residency allows you and your family to travel visa-free across 29 Schengen Area countries, including all EU member states. 

Greece Golden Visa

Greece’s Golden Visa is a good choice for those preferring real estate investment. Especially now that Portugal and Spain have taken this option off the table.

The Greek Golden Visa program now requires a minimum investment of €250,000 or €400,000 in real estate, depending on the property’s location.

Notably, properties in high-demand areas like Athens and Mykonos require a minimum investment of €800,000.

Alternatively, applicants can invest between €350,000 and €800,000 in Greek bonds, shares or funds or make a term deposit.

Financial Independent Visa

The Financially Independent Person Visa is for retirees looking to relocate to Greece.

Applicants must prove a minimum income of €3,500 per month through pensions, bank statements or lease contracts. Dependants can be included, increasing the required amount by 20% for a spouse and 15% for each child under 18.

This visa does not allow employment or independent economic activities in Greece. However, it can be processed quickly, often within 10 days.

It is worth noting that Greece does not offer citizenship by investment. This means you need to spend at least seven years naturalising to become a citizen, learning the language, and spending 183 days in the country each year to get your hands on this European passport.

Cost of Living in Greece in 2025: FAQs

Should You Consider Living in Greece?

A record number of Americans are actively seeking a toehold in Europe. Citizenship by descent applications in the likes of Italy and Ireland are also hitting record highs.

However, all routes to Europe are getting harder:

• Spain has cancelled the property option in its Golden Visa.
• Italy, which historically had one of the widest ancestry programs, has just changed the law to limit who can apply.

Thankfully, the Greek Golden Visa continues to offer great possibilities and benefits that come with a minimum stay requirement, and it serves as an excellent residency option for those seeking access to Europe, whether for full-time living or extended stays.

Of course, Greece isn’t the only path forward. For those prioritising tax optimisation and a lower cost of living, a range of jurisdictions – some with zero income tax – may offer better alignment with personal and financial goals.

The key is clarity. Not just where you want to go but why.

Nomad Capitalist works with high-net-worth individuals to design and execute tailored global strategies. From tax planning and asset protection to second residency and beyond, every move is structured for maximum freedom and long-term benefit.

If you’re ready to move beyond generic advice and build a location strategy that works on every level, get in touch.