Cost of living in Greece: Your guide

Greece has enviable history and culture, climate and cuisine - and yet, the cost of living is among the lowest in Europe. Since the economic crisis hit, prices of accommodation especially have fallen dramatically, making it possible to live a very good life here on a rather limited budget. No wonder it’s a popular destination for tourists and expats alike.

Whether you’re retiring, temporarily relocating or moving to Greece for good, it’s helpful to have a picture of what life there will cost as an expat. Here’s a quick guide.

How expensive is Greece in comparison to the UK, the EU, the USA and Australia?

The official currency in Greece is the Euro (EUR or € on currency exchanges).

You can find out the exact value of your money in EUR, using an onlinecurrency converter - but here’s a rough guide:

• 1000 USD = 897 EUR
• 1000 GBP = 1139 EUR
• 1000 AUD = 678 EUR

One major factor that adds expense for expats in Greece, is the cost of converting cash to EUR from your home currency. Even if your bank says it offers fee-free money exchange, you can be sure that its cut is rolled up in the exchange rate it uses. To get the best deal, you should use an exchange service like Wise, which applies the mid-market rate. With a quick service, and low flat fees to transfer your cash, this can be a much better deal than relying on your home bank.

What are the general living expenses for Greece? How much can you get by on?

Life in Greece is unusually affordable for Europe. With a relatively low budget, you can live a good life - even in the capital of Athens. As Greece’s second city, Thessaloniki is another hotspot for expats. You can live well for less here and life could be even cheaper if you move away from the big cities.

What are the average salaries for Greece?

The salaries in Greece, in general are fairly low, reflecting the current weakened Greek economy. However, as cost of living is also pretty low here, it’s still perfectly possible to live well on an average salary.

Check out what you could earn in Greece here:

How expensive is housing and accommodation in Greece?

One of the major factors determining how expensive life in Greece will be for you, is where you choose to live. Rental prices are low for a European nation, but be wary of overpriced properties aimed at expats who simply haven’t done their homework. Naturally, if you move outside of the big cities you can rent in Greece for even less.

See what it might cost you here:

What about healthcare and dental costs in Greece?

The healthcare system in Greece has historically been very good - but the recent economic crisis in the country has hit spending on health care hard. Because of this many Greeks also buy private health insurance, and as an expat it’s definitely advisable to purchase private insurance to make sure you’re covered for all eventualities.

How much is travel and transportation in Greece?

The cost of travel in the major cities in Greece is very reasonable. Athens, in particular, has a very strong public transportation system if you prefer not to drive in the city.

How much does education cost?

University level education in Greece is free to Greeks and citizens of other EU countries up to Masters level. You might even be able to get your school books paid for.

Greece is a great expat destination whether you’re considering a permanent move or just looking to spend a year or two exploring somewhere new. Here you’ll find a great mix of history, vibrant modern cities, friendly laid-back people and costs which make it possible to live well for less.

Good luck with your new life in Greece!