Pros and Cons of Living in Greece

Greece is a hidden gem in Europe, renowned for its rich cultural heritage and its unique location bordered by three seas: the Aegean, the Ionian, and the Mediterranean. It ranks 33rd in the UN Human Development Index and holds the 40th position in the World Prosperity Index, according to Legatum. The country draws visitors with its mild climate, stunning landscapes, delicious cuisine, and the warm hospitality of its locals. Travelers often notice the relaxed pace of life, the friendliness of the people, and the cozy Mediterranean atmosphere. Greeks appreciate the simple pleasures of life, such as leisurely dinners at taverns, strolls through the narrow streets of historic towns, and heartfelt conversations with family and friends. Furthermore, the cost of living in Greece is about 20% lower than in Western Europe.

At first glance, Greece appears to be an ideal place to live. However, it is essential to consider both pros and cons of living in Greece. The country faces economic challenges, a shortage of qualified personnel in the healthcare system, and a high level of bureaucracy. Many of these issues stem from the global economic crisis of 2008-2009, which severely impacted Greece and led to a prolonged recession. Currently, the government is working diligently to stabilize the economy and reduce the difficulties and risks associated with relocating to Greece.

Advantages of Living in Greece

According to the Global Peace Index and the Global Risk Map 2025 by Safeture and Riskline, Greece is recognized for its high level of security. Additionally, the country boasts an excellent environmental situation, well-developed education and healthcare systems, and many of its beaches carry the «Blue Flag» designation. These are just a few of the reasons why people move to Greece.

Mediterranean Climate and Scenery

The combination of Greece’s mild Mediterranean climate and diverse natural landscapes makes it an ideal place to live and enjoy outdoor activities year-round. You can swim, surf and hike in the mountains throughout the year.

Climate and weather features:

• Greece enjoys approximately 250–300 sunny days each year.
• Winters are mild and warm, with temperatures rarely dropping below 5 °C.
• Sea breezes help moderate the summer heat, preventing extremely high temperatures.

In the northern regions, the climate is more continental, featuring hot summers and cold winters, with the possibility of snowfall in the mountains. The most comfortable temperatures in Greece, ranging from 23-25 °C, typically occur in April-May and September-October.

The hottest and driest months are July and August, where temperatures can soar to 40 °C.
Greece’s landscape is impressively diverse, showcasing rocky mountains and gorges, green valleys and waterfalls, along with a coastline adorned with bays and coves. Nearly 20% of the country’s territory consists of islands, the largest of which is Crete. Greece also boasts rich biodiversity, featuring a variety of plant life, from olive and fig trees to both evergreen and deciduous forests.

Affordable Cost of Living

According to Eurostat data and comparative analyses by Numbeo, Greece’s price level is at least 10% lower than the EU average, and the cost of living is 20-30% lower than in Germany or France. The average monthly cost per adult, excluding rent, is approximately €800. In comparison, costs in Italy exceed € 850, in Sweden — €890, and in Germany — €980.

Important! The prices displayed are averages and may vary based on the city or region and the current economic conditions in the country.

Rich Culture and History

Since the history and culture of Greece date back more than 5 millennia, the country is rightly called the cradle of European civilization. 18 Greek landmarks, including the Acropolis, Delphi, Olympia, are included in the UNESCO World Heritage List. In addition, the country has submitted 14 more memos in the preliminary list of candidates. The rich cultural heritage that is literally everywhere is one of the reasons why you should go to Greece. Millions of tourists come here to admire the Parthenon, Meteora Monasteries, Rhodes Fortress, Dionysus Theater, Panathinaikos Stadium, as well as numerous museums and archaeological sites. Ancient Greek culture had a huge impact on world development, and its heritage can still be traced in architecture, philosophy, art and science.

Real Estate Market Recovery

Following the economic crisis of 2008-2009, the Greek real estate market has experienced significant growth. This active recovery is now considered one of the key advantages of living in the country. Since 2017, residential property prices in Attica have risen by 90%, surpassing the historical peak recorded in 2008 by 5.2%. In 2024, over 30 000 real estate transactions valued at €3 billion were completed across the country, indicating strong demand and investor confidence. The steady increase in housing prices, coupled with market activity, makes Greece an attractive destination for both living and investment. Additionally, new tax incentives present exciting opportunities for entrepreneurs.

Affordable Residence Permit under the Golden Visa Programme

The Golden Visa programme in Greece is one of the most affordable investment citizenship options available in Europe. It allows individuals to obtain a residence permit for a period of 5 years by purchasing property worth at least €250,000. This threshold is among the lowest in the European Union.

Key advantages of the Golden Visa in Greece:

• Minimum requirements: You do not need to permanently reside in Greece to extend your residence permit.
• Visa-free travel: Enjoy the freedom of movement within the Schengen Area.
• Family registration: The visa allows for the inclusion of your spouse, parents, and children under the age of 21 in your application.
• Return on investment: Properties can yield rental returns of up to 10% per annum.
• Path to citizenship: After residing in Greece for 7 years, you can apply for Greek citizenship.

Note! In 2024, Greece set a record by issuing over 17,000 Golden Visas.

Disadvantages of Living in Greece

Living in any country comes with its peculiarities. When discussing what it is like living in Greece, it’s important to consider the challenges that expats may encounter.

Economic Challenges and Uncertainty

Greece has faced a significant economic crisis, and its effects are still felt in many areas of life. However, government support for entrepreneurship, including tax incentives and business subsidies, is positively impacting the country’s financial stability. As a result, the Greek economy has been ranked among the top 5 by The Economist for 3 consecutive years.

Bureaucracy and Administrative Hurdles

Like many Southern European countries, Greece has a complex bureaucratic system. Completing paperwork or registering a business can be time-consuming. Fortunately, the government is actively introducing online services that streamline the submission and processing of necessary applications, reducing the need for long waits at government offices.

In 2026, Greece will launch a unified real estate registry, which will eliminate discrepancies in the area and speed up the sale. Cadastral data will become the basis for the activities of government agencies. The innovations will reduce bureaucracy, simplify transactions, and allow for new tax calculations, including ENFIA and municipal fees.

Limited Opportunities for Employment

The job market has a limited number of openings, making it particularly challenging for foreigners who do not speak Greek to find employment. However, there are conditions in place that support the growing demand for specialists in the IT, tourism and real estate sectors.

What Attracts People to Greece?

8% of the total population in Greece consists of foreign residents, and there are significant indicators suggesting that this number will increase. According to the InterNations portal, in 2024, Greece was ranked among the top 10 destinations for relocation. Additionally, the Greek Ministry of Migration reported a 9.5% increase in applications under the Golden Visa programme in 2024 compared to 2023, surpassing 9,000 applications. To determine whether Greece is a good place to live, it is helpful to explore its advantages for different target audiences.

Why Retirees Choose Greece

The Global Retirement Index study for 2024 places Greece among the top 10 countries where retirees can live comfortably. There are both advantages and disadvantages to retiring in Greece. Positive aspects include:

• An alternative tax regime for retirees
• A comfortable Mediterranean climate
• Access to state medical benefits
• Good transport accessibility compared to other countries, which facilitates travel
• Availability of social programs and various activities to promote an active lifestyle
• The friendliness and hospitality of the Greek people, which helps newcomers adapt to their new environment.

A significant challenge for pensioners may be the difficulty of daily life without knowledge of the Greek language, as English is not widely spoken in many government agencies.

Note! Pensioners with a stable income of € 2,000 per month can participate in the program Greek Residence Permit for financially independent persons.

Popularity among Digital Nomads

A survey conducted by the American website InsureMyTrip ranked Greece 6th among 20 countries with optimal living conditions for digital nomads, while Athens made the top 10 list of emerging destinations for remote workers. The digital nomad community in Greece has seen an average annual growth rate exceeding 163% over the past 5 years. The pleasant climate, rich culture and affordable cost of living are major attractions for these individuals. Furthermore, Greece offers a Digital Nomad Visa — a special program that allows remote workers to obtain a Greek residence permit for one year, enabling them to live and work legally in the country.

Expats’ Perspective on Relocation

In the latest Expat Insider ranking of the best countries to move to, compiled by InterNations, Greece ranks 27th out of 53 countries. This ranking is based on a survey of over 12 000 people from various nationalities. Greece’s appealing blend of economic, climatic, and cultural factors makes it an attractive destination for expatriates seeking a high quality of life and new career opportunities. One notable advantage is the ease of relocating; to immigrate to Greece, you only need to apply for a long-term Category D visa and subsequently a residence permit. Additionally, expats often find it easy to adapt due to the kindness and tolerance of the local residents.

Advantages of Greece for Investors

Greece is increasingly viewed as one of the most promising countries for investing in European real estate. Despite an annual price increase of 7-10%, housing costs are approximately 20-30% lower than in other EU countries, such as Spain, Italy or Portugal. The steady influx of tourists ensures a high demand for rental properties year-round, providing investors with a stable source of passive income. Depending on the region and characteristics of the property, the minimum annual return can be around 5%, with yields in popular areas of Athens and resort regions reaching up to 10%.

Additional investment advantages:

1. Greece’s Golden Visa: This is the most accessible, popular and fastest government programme in the EU. It provides for several investment options, including a bank deposit and securities. But the most popular of them is real estate investments. By purchasing property worth at least €250,000, investors can obtain a residence permit, allowing them to legally reside in Greece and travel freely within the EU and Schengen Area. Unlike other types of residence permits, the Golden Visa does not imply a mandatory move to Greece.
2. The Non-Dom tax regime on global income: This regime enables individuals who relocate to Greece but earn income from outside the country to significantly reduce their tax burden. The main advantage of the regime is a fixed annual tax of € 100 000, which applies to all income earned abroad, regardless of their amount. It is available to those investing in real estate, business, or securities worth at least € 500 000. Applicants must hold a Greek residence permit and should not have been a tax resident of Greece for 7 of the previous 8 years. This regime is especially beneficial for wealthy foreigners with global incomes, as it replaces progressive taxation with a fixed amount.
3. Stable economic growth: According to the International Monetary Fund, Greece’s economy is expected to grow by 2.1% in 2025 due to an influx of investments.
4. Favourable geographical location: Greece’s strategic position at the crossroads of Europe, Asia and Africa provides abundant business and logistics opportunities. It takes only 1 hour to fly to any of these continents and roughly 3 hours to reach almost any location in Europe.

Note! As a member of the European Union, doing business in Greece allows access to markets in other EU areas. Entrepreneurs and investors benefit from the single currency, legal system and available financing programs.

If you’re interested in obtaining a Greek residence permit through investment, reach out to the experts at Astons for a free consultation.

Is Greece the right place for you?

To determine whether Greece is a good country to live in, it is crucial to evaluate various aspects that could affect your quality of life and ability to adapt.

Lifestyle Considerations

Note! Since there are a lot of foreigners and English-speaking schools in Greece, and the locals are very welcoming and open, there is often no language barrier here.

Financial and practical factors

Conclusion: Balancing the Pros and Cons

Greece is a welcoming country with a prime location, rich cultural heritage, mild Mediterranean climate, and a relatively affordable cost of living. It attracts a diverse range of people, including tourists, retirees, families with children, digital nomads, and investors, thanks to its high safety levels, environmental friendliness, well-developed infrastructure, and excellent business conditions. Notable advantages of Greece include an affordable residence permit under the Golden Visa program and a steadily growing real estate market.

However, like any other country, Greece has its challenges. Bureaucracy, a limited number of job opportunities for foreigners, and the lingering effects of the economic crisis can complicate adaptation. Despite these issues, the country is actively progressing, offering tax incentives and support programs for businesses and investors. It is essential to evaluate your expectations, needs, and capabilities in advance to make an informed and appropriate decision.

How Can We Help?

We are proud to be recognized as the best real estate agency in Greece for 2024-2025, according to the European Property Awards. Additionally, Astons is the largest agent under the Golden Visa programme in the country, providing high-quality, full-service offerings.

Our team will review your case, conduct an internal audit, and assess your chances of obtaining a Greek residence permit. Our experienced specialists will guide you through the investment residency process and promptly compile a selection of real estate that meets the requirements of the residence permit program.

Our portfolio includes dozens of exclusive offers from leading developers in Greece, featuring both residential and commercial properties tailored to your needs. Each step toward obtaining your Greek residence permit is supported by qualified lawyers. Astons specialists will assist you with paperwork for both the migration service and the bank, and will accompany you during site visits and contract signings. If needed, our experts can act as your proxy, eliminating the need for multiple trips to Greece.

FAQ

What are the pros and cons of living in Greece?

Living in Greece offers several advantages, including a high level of security, a mild Mediterranean climate, and an affordable cost of living compared to other EU countries. The country also boasts a rich cultural heritage and a promising, actively developing real estate market.

However, some factors may negatively impact the comfort of living, such as economic instability, bureaucratic challenges, and limited employment opportunities, particularly for foreigners without language skills. Despite these challenges, thorough planning for the move, consideration of potential risks, and active integration into the local community can greatly enhance the experience of living in Greece.

Is Greece a good place to live for families and individuals?

Greece is an appealing option for families and expats due to its safety, low cost of living, pleasant climate, and the availability of the Golden Visa program, which allows individuals to obtain a residence permit.

Why do people choose to move to Greece?

Many are drawn to Greece for its relaxed lifestyle, enjoying excellent weather and comfortable temperatures nearly year-round. The affordable housing, reasonable prices for food, and essential services compared to Western Europe make it an attractive destination. Pensioners appreciate the favorable tax regime, while investors are enticed by the potential of the real estate market. Moreover, Greece attracts those who appreciate culture, history, and natural beauty.

What is it like to live in Greece on a daily basis?

Life in Greece tends to be slower-paced, characterized by long dinners in taverns, strolls through narrow streets, and friendly conversations in coffee shops. In larger cities such as Athens and Thessaloniki, life is more dynamic, but locals still prioritize enjoying the moment. Many shops and government offices close for a siesta, and navigating bureaucratic processes often requires patience.

What are the pros and cons of retiring in Greece?

Greece is a favored destination for retirees because of its warm climate, affordable living costs, and leisurely lifestyle. The Global Retirement Index for 2024 ranks it among the top 10 countries for the comfortable adaptation of elderly expats. However, it’s worth noting that local state pensions are relatively low, and the quality of medical care varies by region.

Why should you consider moving to or visiting Greece?

Additionally, Greece ranks as one of the premier tourist destinations in Europe, known for its sun, sea, and rich cultural heritage, boasting 18 UNESCO World Heritage Sites. Expats are attracted to the low cost of living, which is estimated to be 30-40% lower than in major EU cities like Berlin and Paris. Investors have a unique opportunity through the Golden Visa investment program, with a low investment threshold of € 250 000, which grants a 5-year residence permit in Greece.