Your all-in-one guide to cost of living in Greece
Greece - a land where ancient ruins adorn the landscape, efficiency is ingrained in everyday living, and souvlaki is considered an art form. It has emerged as a favoured destination for South Africans due to it being more affordable than other European countries. But before you start packing your suitcases and brushing up on your Greek, take a moment to ponder.
While the prospect of moving to a new country is exhilarating, there are numerous considerations to weigh, starting with financial management. Luckily, Wise* has got you covered.
Wise allows you to make international money transfers at the mid-market exchange rate¹⁴ from Greece to South Africa. In this article we breakdown the cost of living in Greece to help you prepare for a move to the country with a cuisine as extensive as their history.
Please note that certain products or features may not be available in all regions. Please visit www.wise.com to check for availability and learn more about our offerings.
*Wise Europe is not a bank. Wise Europe is an authorised Payment Institution incorporated as an SA in Belgium, supervised by the National Bank of Belgium.
How expensive is Greece in comparison to South Africa
The country in the recent past has gone through a tough phase and the economy is still in its recovery phase. The cost of living in Greece is much more affordable than other European countries. Overall, the costs you incur will largely depend on where you live but on average the cost of living in Athens (Greece’s capital) is 53.5% higher than Cape Town (excluding rent)5. There are a lot of expenses that you’ll need to consider, we break these down in detail in the following sections.
The currency in Greece
The Euro (EUR) is the official currency of the country and the entire European Union. This ensures hassle free travel between member states as you don’t need to exchange currencies for the trip. It is one of the most powerful global currencies and is valued above the Rand. You can check the latest Euro to Rand rate here using our free online currency converter.
Send money from Greece to South Africa at the mid-market exchange rate with Wise
If you’re a South African expat living in Greece, Wise can help you save money¹ when making international money transfers back to South Africa.
Although the majority of banks may allow their account holders to make an international transfer, it is possible that a markup is added to the mid-market exchange rate. It is recommended to check the exchange rate offered by your bank against the mid-market rate, which is similar to the exchange rate shown on Google. Say no to hidden fees!
The mid-market exchange rate is the rate that banks use to transfer money between them and is considered the fairest rate in the market. Find out what you would pay for an international money transfer with Wise:
Wise customers don’t have to pay an additional markup fee but only a small transparent fee to make an international transaction¹. That’s because Wise uses the mid-market rate for overseas payments!
With Wise, South African expats can save money¹ when making international payments from Greece to South Africa.
Please note that certain products or features may not be available in all regions. Please visit www.wise.com to check for availability and learn more about our offerings.
Cost of living in Greece vs. South Africa
Being one of the most beautiful countries in Europe, Greece is a top spot for migrants, and tourists. The cost of living in Greece largely depends on the city you move to. Consumer prices are 55.3% higher in Greece when compared to South Africa5. Rents on the other hand are 14.5% higher5. The largest city Athens is ranked 97th on most expensive cities across the globe. Let’s take a look at how much things like rent, transport, groceries would cost you in major cities like Athens, Thessaloniki, and Patras.
Rental costs in Greece
Rents in Greece vary according to region and are relatively higher in big cities. You can expect to pay around €400 – 700 for a 1-bed in cities like Athens if you want to live close to the city centre, however, this can be reduced considerably if you choose to live outside it (€200 – 400)7.
Let’s take a look at how much you would pay as a single person or a family of 4 in different Greek cities in the tables below:
Average monthly rent in Athens
| Rental for | Average monthly rent in Athens8 |
|---|---|
| 1-bedroom apartment (in the city centre) | 584.75 € (11,654.62 R) |
| 1-bedroom apartment (outside the city centre) | 488.93 € (9,744.88 R) |
| 3-bedroom apartment (in the city centre) | 1,085.77 € (21,640.56 R) |
| 3-bedroom apartment (outside the city centre) | 931.27 € (18,561.31 R) |
Average monthly rent in Thessaloniki
| Rental for | Average monthly rent in Thessaloniki9 |
|---|---|
| 1-bedroom apartment (in the city centre) | 504.62 € (10,057.53 R) |
| 1-bedroom apartment (outside the city centre) | 413.82 € (8,247.95 R) |
| 3-bedroom apartment (in the city centre) | 899.33 € (17,924.69 R) |
| 3-bedroom apartment (outside the city centre) | 684.48 € (13,642.48 R) |
Average monthly rent in Patras
| Rental for | Average monthly rent in Patras10 |
|---|---|
| 1-bedroom apartment (in the city centre) | 416.67 € (8,304.62 R) |
| 1-bedroom apartment (outside the city centre) | 310.00 € (6,178.64 R) |
| 3-bedroom apartment (in the city centre) | 680.00 € (13,553.14 R) |
| 3-bedroom apartment (outside the city centre) | 540.00 € (10,762.78 R) |
Cost of groceries in Greece
Food prices in Greece are pretty affordable. and locally-sourced produce is readily available throughout the country. Supermarkets like Sklavenitis, AB Vassilopoulos, and Lidl offer a range of local and global products to serve diverse populations.
Average grocery costs in Athens
| Basic groceries | Average cost in Athens8 |
|---|---|
| Bread | 1.11 € (22.08 R) |
| Milk | 5.87 € (117.00 R) |
| Eggs | 4.35 € (86.68 R) |
| Cheese | 5.80 € (115.65 R) |
| Chicken fillets (1kg) | 4.65 € (92.62 R) |
| Bottle of wine (mid-range) | 8.00 € (159.45 R) |
Average grocery costs in Thessaloniki
| Basic groceries | Average cost in Thessaloniki8 |
|---|---|
| Bread | 1.12 € (22.25 R) |
| Milk | 5.16 € (102.92 R) |
| Eggs | 4.52 € (90.01 R) |
| Cheese | 5.63 € (112.25 R) |
| Chicken fillets (1kg) | 4.69 € (93.48 R) |
| Bottle of wine (mid-range) | 8.00 € (159.45 R) |
Average grocery costs in Patras
| Basic groceries | Average cost in Patras10 |
|---|---|
| Bread | 1.06 € (21.15 R) |
| Milk | 5.30 € (105.63 R) |
| Eggs | 3.68 € (73.35 R) |
| Cheese | 5.22 € (103.97 R) |
| Chicken fillets (1kg) | 3.63 € (72.32 R) |
| Bottle of wine (mid-range) | 6.00 € (119.59 R) |
Transport costs in Greece
Getting around the major cities in Greece is very easy because of the cost-effective public transportation options available. Most cities have a network of city buses, while Athens boasts a metro system. Additionally, you can also hire a car using apps such as Uber. The table below lists the cost of public transport in major cities in the country.
| Category | Cost |
|---|---|
| 1-way ticket in Athens8 | 1.20 € (23.92 R) |
| Monthly transport pass in Athens8 | 30.00 € (597.93 R) |
| 1-way ticket in Thessaloniki9 | 0.90 € (17.94 R) |
| Monthly transport pass in Thessaloniki9 | 30.00 € (597.93 R) |
| 1-way ticket in Patras10 | 1.40 € (27.90 R) |
| Monthly transport pass in Patras10 | 38.00 € (757.38 R) |
Eating out in Greece
The country has a very rich and extensive cuisine loved worldwide. From gyros to souvlaki – the cuisine comprises dishes that cater to different dietary requirements, spoiling you for choice!
Average meal costs in Athens
| Category | Athens8 |
|---|---|
| Meal, inexpensive restaurant | 15.00 € (298.97 R) |
| Meal for 2 people, mid-range Restaurant, three-course | 50.00 € (996.55 R) |
| McMeal at McDonalds (or equivalent combo meal) | 9.00 € (179.38 R) |
| Cappuccino (regular) | 3.34 € (66.64 R) |
Average meal costs in Thessaloniki
| Category | Thessaloniki9 |
|---|---|
| Meal, inexpensive restaurant | 15.00 € (298.97 R) |
| Meal for 2 people, mid-range Restaurant, three-course | 45.00 € (896.90 R) |
| McMeal at McDonalds (or equivalent combo meal) | 9.00 € (179.38 R) |
| Cappuccino (regular) | 3.49 € (69.62 R) |
Average meal costs in Patras
| Category | Patras10 |
|---|---|
| Meal, inexpensive restaurant | 10.00 € (199.31 R) |
| Meal for 2 people, mid-range Restaurant, three-course | 45.00 € (896.90 R) |
| McMeal at McDonalds (or equivalent combo meal) | 11.00 € (219.24 R) |
| Cappuccino (regular) | 3.35 € (66.77 R) |
Study costs in Greece
A common concern if you're looking to move for higher education is if the curriculum will be taught in the local language. Greece boasts of a range of institutes that cater to international populations.
The state governs higher education as a whole in Greece. You can find both public and private universities in the country. As is the case with other countries, the fees of private universities are higher than those of public universities.
Undergraduate degrees are usually 4-years long while a Master’s degree would take 2-years to complete. If you wish to pursue a PhD the duration would depend on your own unique circumstance.
If you opt to attend a private institution you would need and English proficiency certificate such as the IELTS or TOEFL. As an international student you would pay around €1500 as a tuition fee per year11.
What is the average salary in Greece?
The pay in Greece is much lower than countries like Germany, France, and others as the economy is still recovering. The average pay range is between €982 to €3,36512. Salaries can vary dramatically among different job categories. Here’s a list of some major professions in the country and their salary to help you better understand the job market:
Average salary in Greece (monthly)
| Designation | Average salary in Greece13 |
|---|---|
| Lab Technician | €1,758 |
| Physician | €7,349 |
| Software Developer | €1,465 |
| Surgeons | €11,095 |
| Data Scientist | €3,776 |
| Lawyer | €6,097 |
| Nurse | €3,104 |
What about healthcare costs in Greece?
In Greece, both public and private healthcare services are available to residents and expats alike. Whether you opt for public or private healthcare, you're likely to encounter English-speaking staff, particularly in central areas. Public healthcare in Greece is free for all citizens and residents, including expats and EU citizens. There's no need for a referral to see a specialist, although waiting lists can be lengthy. Expats can access state healthcare for free by contributing to public healthcare insurance and possessing a social security number14. Alternatively, expats can opt for international healthcare insurance to reduce wait times.
Private healthcare facilities in Greece typically offer newer equipment compared to public ones and often have a higher proportion of English-speaking staff. The cost of private health insurance varies based on factors such as age, coverage area, co-insurance, and country of residence. Many individuals choose private health insurance due to its comprehensive coverage of expenses14.
An average family doctor check-up with no insurance will cost you around €40. Cold medicine for six days costs approximately €2.70. Whereas antibiotic prescription with no insurance costs around €714.
The cost of living in Greece is higher than South Africa but the quality of life and opportunities make it an exciting option to move. The country also offers the Golden Visa which allows expats to invest in real estate in the country for gaining permanent residency which gives them visa free travel to EU countries. It is a great place to be if you’re looking for further studies, better job opportunities, or simply exploring your options. With decent salaries, great weather, and amazing food the country is a good mix of everything.
One smart way to avoid paying excess bank fees for international money transfers is to use a Wise multi-currency account to send, spend, and receive money internationally4.
Please note that certain products or features may not be available in all regions. Please visit www.wise.com to check for availability and learn more about our offerings.
Sources:
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- Please note that certain products or features may not be available in all regions. Please visitwww.wise.com to check for availability and learn more about our offerings.
- Cost of living in Greece vs SA
- Mercer’s cost of living index
- Rent in Athens
- Cost of living in Athens
- Cost of living in Thessaloniki
- Cost of living in Patras
- Studying in Greece
- Average salary in Greece
- Salaries in Greece
- Healthcare in Greece
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