Greece is a very beautiful sunny country located in the southern part of Europe. An excellent place not only for tourist travel, but also for permanent residence. The main difficulty of the state is a protracted economic crisis and high unemployment. Even though the situation has improved somewhat, potential immigrants planning a life in Greece should take this into account.

Greece's population in 2024 is about 10.3 million. More than 90% of the locals are ethnic Greeks, and there are also many Albanians, Bulgarians, Romanians, Pakistanis and Georgians. About prices and costs of living, taxes, employment specifics, wages, education, medicine, pros and cons of living in Greece in 2024 we will talk further.

Living in Greece

Pros and cons of living in Greece

Due to its comfortable geographical location, unique architecture, stunning scenery, ancient history and culture, Greece is deservedly considered one of the most beautiful countries in the world. However, life in this state consists not only of the pluses. Here are the advantages and disadvantages of living in Greece.

Pros of living in Greece

  • There are many cultural attractions and beautiful places to relax in Greece, including stunning islands, manicured beaches, world-class museums and much more.

  • Greeks are very sociable and friendly people who love to have fun with family and friends outdoors.

  • The country has good ecology and delicious healthy cuisine.

  • According to numerous surveys of tourists and immigrants from around the world, Greece ranks first among the countries with the best climate to live in in the world.

  • There is a low crime rate and good medicine.

Pros and cons of living in Greece

Cons of living in Greece

  • Elements of corruption and bureaucracy in government and budget institutions.

  • High taxes.

  • Unstable economy, difficult situation in labor market and low salaries.

  • It is very difficult to build a professional career or develop your own business in Greece.

  • Infrastructure, including roads, is poor by European standards.

Important. Since 2014, foreigners may obtain a residence permit in Greece immediately for 5 years when purchasing real estate worth 250 thousand euros.

Prices and cost of living in Greece

One of the significant advantages of Greece is the relatively low cost of living. This applies both to the rental of real estate and the prices of goods and services, including food. The rent of a one room apartment in the central part of the Greek city costs about 410 euros, and in the remote areas about 350 euros. The price of a square meter of real estate in the center is 2,060 euros, and 1,735 euros outside the city. In resort areas and large population centers in Greece, including Athens, Thessaloniki and Patras, it is noticeably more expensive to live.

Prices in Greece in 2024

  • Bread (500 g) – 1.26 euros

  • Milk (1 L) – 1.52 euros

  • Eggs (12 eggs) – 4.00 euros

  • Chicken Fillets (1 kg) – 9.44 euros

  • Potatoes (1 kg) – 1.13 euro

  • Greek cheese (1 kg) – 12.41 euros

  • Bananas (1 kg) – 1.79 euros

  • Apples (1 kg) – 1.77 euros

  • Gasoline (1 liter) – 1.97 euros

  • Cab (1 km) – 1.00 euros

  • Public transport fare – 1.20 euros

  • Monthly bus pass – 30 euros

  • Utilities (85 sq. m.) – 217.00 euros per month

  • Mobile Tariff Local (month) – 20.98 euros

  • Internet – 29.71 euros per month

Note. The above prices are average figures for different cities in Greece.

Taxes in Greece

Taxes in Greece

The difficult financial and economic situation is also reflected in the Greek tax system. Certainly not for the better. The main tax rates are very significant, for example, the corporate tax is 29%, one of the highest in the European Union.

Tax rates in Greece in 2024

Corporate income tax – 22% (29% for credit institutions).

VAT – 24%. Reduced rates of 13% (hotel services, water supply, medical equipment for the disabled), 6% (pharmaceuticals, books, newspapers, theatrical performances) and 0% (domestic and international air and sea transport).

Dividends – 5%

Property tax – 3% and 3.09% (increased by 0.09% due to the municipal surcharge).

Inheritance tax – 1 to 10% of the property value for immediate relatives and 0 to 40% for other heirs.

Stamp duty – 3.6% and 2.4%

Income tax:

  • Annual income from 0 to 10,000 euros – 9%

  • Annual income from 10,001 to 20,000 euros – 22%

  • Annual income from 20,001 to 30,000 euros – 28%

  • Annual income from 30,001 to 40,000 euros – 36%

  • Annual income in excess of 40,000 euros – 44%

Solidarity Tax:

  • Annual income of 0 to 12,000 euros – 0%

  • Annual income from 12,001 to 20,000 euros – 2.2%

  • Annual income from 20,001 to 30,000 euros – 5%

  • Annual income from 30,001 to 40,000 euros – 6.5%

  • Annual income from 40,001 to 65,000 euros – 7.5%

  • Annual income from 65,001 to 220,000 euros – 9%

  • Annual income over euros 220,000 – 10%

Social Security Fund – 13.87% (employee) and 22.29% (employer).

Jobs and wages in Greece

Today it is almost impossible to find a job in Greece with good working conditions and high wages. Especially for foreigners from third countries who need to find a job in advance and obtain special permission from the Greek Labor Authority. Nevertheless, some applicants from abroad manage to find a job in Athens and other Greek cities, for example, in tourism or agriculture.

In terms of wages, Greece lags far behind other developed countries of the European Union. For example, the minimum wage in the state is officially 830 euros per month. Until 2019, the rate has not changed for 7 years. Moreover, in 2012, Greeks received a minimum of 876,62 euros. The average salary in Greece in 2024 after tax is about 943 euros. Skilled professionals earn around 1,510 euros and unskilled workers 717euros.

Higher education in Greece

Higher education in Greece

The great historical and cultural heritage of Greece attracts thousands of students from abroad to this country, who not only seek quality knowledge and a European diploma, but also to plunge into the inexpressible atmosphere of Greek life. Unfortunately, free higher education in Greece is available only to Greeks and citizens of the European Union.

The average cost of education in Greece is 2,000-4,000 euros per year. This amount covers the cost of study grants, discounted travel and some types of medical care. The prestigious international QS World University Rankings 2024 include 8 universities in Greece. The National Technical University of Athens, the Aristotle University of Thessaloniki and the University of Crete are considered the best.

Medicine in Greece

In Greece you can count on a fairly high quality level of medical care, but mostly in private health facilities. State clinics also have qualified staff and modern equipment, but the system itself needs to be reformed.

Health care in Greece includes private and national health insurance. At least 15% of Greeks additionally purchase private health insurance. In recent years, many public hospitals in Greece have experienced problems with staffing and funding, which affects the quality of medical services.

To conclude, the average life expectancy at birth in Greece in 2024 is 81 years, with men living about 78 years and women 83.

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