Athens: A Magnet for Investors. Overview of Life in the Greek Capital 

Athens is one of the world’s oldest cities, known as the “birthplace of democracy.” In the 6th–5th centuries BC, a unique form of government emerged here, allowing citizens to participate in decision-making and law-making.

Modern Athens is the capital of Greece, with a population of over 640,000 people.

According to legend, the city was named after the goddess of wisdom, Athena, who gifted the people an olive tree—a symbol of peace and prosperity. This symbol can still be seen on historic buildings and in the modern design of cafes and restaurants.

Athens’ Mediterranean climate is ideal for growing olives and grapes. Agriculture and tourism remain key sectors of the city’s economy, while many residents are also employed in services, education, finance, and manufacturing.

Greek is the primary language spoken in Athens, but many residents, especially younger generations, speak foreign languages, with English being the most common. In the tourism sector, French and German are also widely used.

This article explores what life in Athens is like today, the best areas for expats, and the pros and cons of living in the Greek capital.

Infrastructure: Neighborhoods and Residential Areas in Athens

Modern Athens is a dimos (municipality) divided into seven communities. However, locals and tourists still recognize the city’s historic districts.

The metropolitan area, known as Greater Athens, includes surrounding cities and has a total population of around 3 million people.

Living Close to History: Plaka, Monastiraki, Thiseio, Psiri

If you want to step out of your home and immediately find yourself on ancient Athenian streets, consider Plaka — the city’s oldest district, located at the foot of the legendary Acropolis.

Antique lovers will appreciate Monastiraki, home to numerous vintage shops and the ancient Agora—once the political and commercial center of Athens.

Thiseio offers stunning views of the Acropolis and is known for its green park. Those who prefer to stay near the historic center but enjoy nightlife should consider Psiri, famous for its bars, authentic tavernas, and nightclubs. During the day, you’ll find art galleries and boutique shops here.

Modern and Trendy Neighborhoods: Kolonaki, Psychiko, Koukaki, Petralona

Kolonaki is the most prestigious and expensive district, popular with both shopping enthusiasts and culture lovers, as it is home to the Benaki Museum and the Vatican Museum.

Another green and upscale area in northern Athens is Psychiko, where many politicians, diplomats, and businesspeople reside.

Koukaki and Petralona are popular among families with children. These middle-class neighborhoods offer affordable housing and are relatively close to the historic center.

Luxury Suburbs in the South: Glyfada, Vouliagmeni, Paleo Faliro

If you’re looking for prestigious suburbs, Glyfada, Vouliagmeni, and Paleo Faliro are excellent options. These areas cater to affluent residents and offer stunning views, beaches, and the sea.

Glyfada is a popular leisure destination for both locals and tourists, boasting breathtaking views of the Saronic Gulf, luxurious villas, and a vibrant nightlife. It is also considered one of the safest and most comfortable suburbs, featuring picturesque scenery, crystal-clear bays, golf courses, and high-end entertainment. The area is in high demand among foreign investors — purchasing property here not only provides solid returns but also opens the possibility of obtaining European residency.

Industrial West: Peristeri and Egaleo

The western suburbs of Peristeri and Egaleo, located on the outskirts of Athens, offer more affordable housing compared to the city center and southern districts. However, these areas have higher population density and slightly lower air quality due to nearby industrial activities.

The Rebel Spirit: Exarchia

Exarchia is the heart of Athens’ political and student life. If you want to experience a different side of the city, this is the place to go. The neighborhood has a long history of activism and protests but also features quaint bookstores and cozy cafes.

Choosing a district or a city near Athens depends on your preferences and financial capabilities. Transportation infrastructure is an important factor to consider. For example, the historic center has a well-developed metro and bus network, but some pedestrian streets become overcrowded with tourists during peak seasons. If you plan to own a car, parking is much easier on the outskirts than in the center.

Modern neighborhoods like Koukaki and Kolonaki have good access to metro and bus lines, as well as more parking options. In southern suburbs such as Glyfada and Faliro, personal transport is more convenient, but public buses are also available. You can also take the metro from Athens to Piraeus, Greece’s main port and fourth-largest city. Piraeus has a large marina, making it easy to rent a yacht and explore the nearby Greek islands.

Greece: Cost of Living in Athens and Daily Expenses

The cost of living in Athens depends on the area and type of property.

You can refer to the average salary range in Greece: from €815 to €2,721 per month (on average, about €1,200-1,300, which is approximately $1,270-1,370).

You can also consider the average cost of renting or buying a property. Renting a one-bedroom apartment in the city center will cost around €600-800 per month (about $670-870), while on the outskirts, it will be around €450-600 (about $520-670). A three-bedroom apartment will cost approximately twice as much: around €1,200 in the city center (about $1,300) and €900 on the outskirts (about $1,000).

If you’re planning to buy property in Athens or its suburbs, contact reliable partners — Astons specialists will help you find a suitable property based on your preferences and budget and assist with all necessary paperwork. Greece offers a residency by investment program starting from €250,000. Find out more details in a free consultation with an Astons expert

Products in Athens are much cheaper than in the USA: the average grocery basket will cost about 1.5 to 2 times less. The same applies to restaurants and cafes, as well as utilities. In Greece, utility costs amount to around €120-150 per month (about $200-220).

Pros and Cons of Living in Athens

One of the obvious advantages of living in Athens is the pleasant Mediterranean climate with warm winters and hot summers, as well as its rich cultural heritage. Athens is the center of world history and architecture: the famous Acropolis, museums, including open-air ones, and theaters create a constant immersion in ancient culture.

In recent years, Greece has also demonstrated relative political stability, despite having experienced previous economic and social crises. In 2018, the country exited the international financial aid program, restored investor trust, and is gradually improving its economic indicators.
Moreover, rent in Greece is much cheaper than in New York, Los Angeles, or other cities in the USA.

Despite the city’s development, Athens still has a relatively high unemployment rate (around 11%). Many Athenians work in small and medium-sized businesses, as well as startups. A large part of the business is related to tourism.

The developed tourist infrastructure allows expats to integrate more easily: in the city center and tourist areas, you can comfortably communicate in English. However, knowing Greek will be helpful in public institutions and daily life (such as traveling within Greece). To obtain citizenship, you will need to pass a basic Greek language exam.

Lifestyle in Athens: Leisure and Entertainment

Athens offers a variety of options for any type of leisure. For those who enjoy cultural and calm activities, there are numerous museums of both classical and modern art. For the first, head to the Acropolis: here, you can visit the Parthenon, the Temple of Athena Nike, and the Erechtheion.

Fans of clubbing and the restaurant scene will find dozens of cocktail (and not only) bars in various parts of the city. Athens is famous for its restaurants and cafes, including traditional tavernas where you can try local dishes.

Graffiti enthusiasts will enjoy a walk through the Psiri and Exarchia neighborhoods — here, you’ll discover vibrant murals and street art that reflect the social and political moods of the locals. Some of the most notable works are the mystical creatures by Alexandros Skoutariotis, created in a recognizable black-and-white style with red accents.

For those who lead an active lifestyle, the perfect Athens climate allows you to practice sports outdoors almost all year round: running in parks, cycling, and enjoying various water sports. Organized tours offer ready-made bike routes through historical sites, and professional instructors teach diving and windsurfing.

Is Athens a Good Place to Live: Reasons for Relocation

If you’re still wondering whether to move to Athens, here’s a brief summary.

The reason why Americans love living in Athens is that Greece offers numerous advantages for expats. The pleasant climate, affordable housing — especially compared to most European countries — and its undeniable cultural and historical richness are key factors.

Greece also offers educational and career prospects. Many universities in Athens offer programmes in English, and there are exchange and internship programs with other EU countries.

As in the rest of Greece, Athens has widely available daycare centers and schools — both public and private. Children can attend public daycare centers if both parents are employed. Private daycare centers have no such selection process and registration is faster and easier.

Mandatory education in Greece lasts 9 years: children typically start primary school around the age of 6. Public schools teach in Greek, but there are private schools where classes are held in English. American and British schools may cost more than €10,000 per year (e.g.,

International School of Athens or St. Catherine British School). Private schools often focus more on in-depth foreign language learning and offer more opportunities to study various additional subjects.

The technology and services sectors are also actively developing in the city. For various IT startups and other digital professions, there are special tax programmes, and international companies with branches in Athens offer good career opportunities.

Greece is also popular among retirees from various countries, thanks to its relaxed lifestyle and favorable climate.

By the way, the Greek residency by investment can be granted not only to the investor but also to their immediate family members: spouse, children, and parents of both spouses. Find out more about this program from Astons specialists.

FAQ

 

What is the cost of living in Athens, Greece?

The cost of living in Athens is relatively affordable, with rental prices for a one-bedroom apartment in the city center ranging from €600–800 and around €450–600 in the suburbs. Grocery prices are 1.5 to 2 times cheaper than in the U.S., and utility bills typically cost €120–150 per month.

What are considered the best neighborhoods to live in Athens?
What are the pros and cons of living in Athens?
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