Introduction

Greece is a tapestry of ancient history, boasts stunning beaches with crystal-clear waters, and a laid-back lifestyle that has drawn retirees from across the world. With its varied landscapes, retirees can choose from various islands, tranquil rural areas, or vibrant cities like Athens and Thessaloniki. Each region offers a unique ambiance and range of activities, ensuring a retirement tailored to personal preferences.

Embracing the Greek way of life could be the perfect chapter for those seeking a serene escape filled with beauty, culture, and a touch of adventure.

Embracing the Mediterranean Climate

Our number one reason to move to Greece? This one is a no-brainer! For anyone seeking warm and sunny days on a frequent basis, then choosing Greece as a retirement destination could be your best decision.

Gentle Winters and Balmy Summers

‍In Greece, winters are mild, which means outdoor enthusiasts can enjoy their activities nearly year-round without the burden of shoveling snow or bundling up against the bitter cold. On the other hand, the summers on the islands, though warm, are made comfortable by the cooling "meltemi" winds, especially in coastal areas. This makes Greece an ideal locale for those wishing to escape harsher summer climates.

Endless Sunshine

There is limitless sunshine! Some regions enjoy up to 300 days of sun annually. This vitamin D boost is not only good for the spirit but also for the body, supporting bone health and overall well-being. Due to Greece's friendly climate, there are many opportunities for walks, swims, and attend outdoor events, making it easier to live an active and healthy lifestyle.

Diverse Regions

Whether you prefer the green landscapes of the Peloponnese, the turquoise waters of the Aegean, or the majestic islands of the Ionian Sea, Greece offers a varied climate that caters to each individual tastes and preferences.

Cost of Living: Your Budget Guide for Greek Retirement

A key aspect in retirement is financial planning. That's why it's crucial to create a budget plan and assess the cost of living when planning your retirement in Greece. Typically, Greece offers a lower cost of living compared to many parts of the United States and Western Europe, which is part of its appeal to retirees.

On the other hand, when speaking of home prices, according to Ekathimerini, the average selling price of a home had shot up by 57%, from 175,000 euros in 2018 to 274,831 euros in 2023. To discover more about the property buying purchase in Greece, please refer to our article, How to Buy Property in Greece in 2024: Real Estate in Hellas.

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Remember that your overall monthly budget will vary based on factors like the exact location, lifestyle, and how you maintain your savings. If you are planning to retire on an island, things can get more expensive since more than a few items have to be brought from the mainland.

Health Care in Greece

Retiring in Greece promises not just a serene lifestyle but also access to quality health care services. Greece has a mixed health care system with both public and private sectors. For retirees considering the move, understanding how to navigate these options is key.

Firstly, it is worth noting that health care in Greece is relatively affordable compared to many other Western countries. Once you have registered with the Greek social security system (EFKA), you are eligible for public health care services. See more information related to this topic in our article, Insurance in Greece: What is EFKA?‍

Retirees from EU countries can use their European Health Insurance Card (EHIC) for access to public health care on the same terms as Greek citizens. For non-EU retirees, it’s vital to secure private insurance to cover medical expenses—especially in the initial months or until you can join the National Health System, and register with the EFKA authorities.

Here are some essential steps to secure public healthcare benefits:

1. Register for AMKA: The first thing upon settling in Greece is to get your social security number, AMKA, which is essential for accessing health services. This is used for booking medical appointments, as well as other clinical visits. To apply for an AMKA number, read our article, Social Security in Greece: What is an AMKA number?

2. Choose your health care option: Decide whether you'll use public, private, or a combination of both. Private health care offer shorter wait times and more options but at a higher cost.‍

3. Find a GP or specialist: Establish a relationship with a general practitioner or specialist who speaks your language and where you can let them know about any existing medical conditions or prescriptions. Many doctors in Greece have received training in English-speaking countries.‍

4. Prepare for emergencies: Know the emergency numbers (such as 166 for medical emergencies) and have the address of the nearest hospital or clinic handy.

Remember, larger cities like Athens and Thessaloniki will offer more English-speaking doctors and modern facilities, while in smaller islands or rural areas, medical services may be more limited.

Now that the essentials are out of the way, we are counting down the six best places to retire in Greece.

6. Thessaloniki

Kicking off this list is Thessaloniki, Greece’s second-largest city. It presents a unique blend of vibrant city life and historical museums, making it an attractive spot for retirees.

Pros

• Cultural & Historical Gems: Thessaloniki is a city that has the most byzantine churches in the world. Here, one can wander through the historic Ano Poli neighborhood or lose themselves in the magnificent Rotunda, a UNESCO World Heritage site. In the city, you can also visit the iconic White Tower on the waterfront andxplore numerous museums, such as the Archaeological Museum of Thessaloniki or the Museum of Byzantine History. Visitors can also stroll along the picturesque four kilometer promenade by the Thermaic Gulf at sunset, or relax at laid-back beach bars in Perea or Agia Triada.‍
• Culinary Experience: Retirees can enjoy the city’s famous culinary scene, from street food to gourmet dining. Explore the old markets of Kapani and Modiano. ‍
• Bustling Nightlife and Cultural Events: The city also boasts a calendar packed with festivals. Whether it's the Thessaloniki International Film Festival or the annual Dimitria festival, cultural events provide endless entertainment and stimulation for those looking to engage with the arts in their retirement. Since Thessaloniki is a large student city, there are plenty of clubs and rooftop bars.

Cons

• Abandoned Buildings: Some of the buildings that were built were unfortunately abandoned by their property developers, in conjunction with the Greek state.
• Parking Space: In Thessaloniki, due to it being a large city, you may struggle with finding a parking space for your car.

5. Santorini

Those drawn to the stunning views and tranquil surroundings may find a heavenly escape on the crescent-shaped volcanic island of Santorini. Famed for its dramatic cliffs, the white buildings as an emblem of the Cyclades, and captivating sunsets that sink into the Aegean Sea, Santorini offers a serene retirement lifestyle infused with the charm of the local culture. Santorini's small size encourages exploration - whether on foot, by donkey, or via the local bus system.

Pros

• Vibrant Social Scene: The island hosts a welcoming international community along with friendly locals, making it easy to forge new friendships and social connections. Its colorful nightlife scene attracts people from all over.
• Cultural Wealth: The island is steeped in history, with ancient sites like Akrotiri village offering a glimpse into a sophisticated Bronze Age civilization. The island also boasts a wealth of modern art galleries, wineries, and cultural events that keep the spirit and traditions of Greece alive.

Cons

• Mass Tourism: According to the Mirror, although its population is 15,000, Santorini attracts around two million visitors each year, which means that overcrowding can be an issue for the Southern Aegean island. However, the government has made a continuous effort to regulate the number of foreign visitors to the island. In 2023, the number of international arrivals reduced successfully by 9.9% for Santorini.
• Expensive Real Estate: Santorini has some of the most expensive real estate amongst the Greek islands, amounting to 10,000 EUR per square meter.

4. Crete

Retiring in Crete offers more than just a laid-back lifestyle; it's an immersion into a blend of history and nature that's hard to find elsewhere. Due to its large expat community and self-sustaining economy, Crete is like a small nation in itself!

Pros

In addition to its amazing nature, charming people and spirit, here are the reasons why Crete should be at the top of your list as a place to retire:

• Rich History: Crete is the birthplace of the Minoan culture, one of the earliest recorded in Europe. There, you can explore the Palace of Knossos, the mythological labyrinth of the Minotaur, and the archaeological museum in Heraklion.
• Stunning Landscapes: From the White Mountains (Lefka Ori) to the Samaria Gorge, Crete offers diverse natural beauty. With balmy beaches like Elafonissi, marked by pink sands, and the palm-fringed Vai beach, you're never far from a picturesque coastline. Crete is also highly agricultural, with olive and grape production as well as aloe vera, oranges, lemons and more. With its ample land, you will never run out of things to do or activities to partake in.
• International Community: Not only do you have the warmth of the Cretan people, but there are plenty of foreigners living on the island, to make friends with. In fact, many expats find it easy to integrate into the community, making social connections a breeze. And let's not forget the island's rich tradition of music and dance, a delight to witness during local festivals.
• Convenient Access: Unlike other smaller islands, Crete has a big airport, which is second busiest airport in the country, after Athens International Airport. Crete also provides access to healthcare through its hospitals, so you won't have to worry about catching another boat to the nearest island with a hospital.
• Cost-Friendly Rentals: Renting a place is approximately one third of the cost of renting in the UK, making accommodation relatively cheap compared to its neighbors.

Cons

• Cold Winters: Even though the weather is warm for most of the year, expect cold winters with snow on the mountains and harsh winds. Many seaside areas appear to be ghost towns in the winter.
• Lack of Variety in Food Options: Although eating out is fairly cheap, there’s not a huge choice - most of the restaurants and tavernas serve variations on the same meals.

3. Corfu

Sitting at number three on this list is Corfu, the Ionian dream. Like Crete, Corfu is an island with lush landscapes and azure seas. Corfu City is a well-preserved 17th-18th century city, and represents Greece at this time under Venetian rule.

Pros

• Enchanting Views: Corfu offers stunning landscapes, from the maze of alleys in Corfu Town, a UNESCO World Heritage site, to the serene beaches of Paleokastritsa, Chomi and Stelari. ‍
• Cultural Richness: Embrace the local culture with traditional music and dance, visit historical sites, or join in one of the many festivals and events throughout the year. Take part in hiking, sailing, and snorkeling, or simply enjoy long walks along the beach or through the olive groves.‍
• Expat Communities: Due to Corfu's foreign influences under the old Venetian rule, the island has a Central European feel to it. You can also find many British expats which may make you feel closer to home, depending on where you're from!

Cons

• Narrow Roads: If you're used to driving, the roads in Corfu are narrow and single lane, which could be a dangerous feat.
• need a car, most roads are narrow and single lane.
• Lack of Accessibility of Beaches: Most of the best beaches in Corfu are only accessible by boat.

In Corfu, days can be as laid-back or as active as you please, always against the beautiful backdrop of the island's Central European charm - making it an excellent choice for retirement.

2. Rhodes

With a local population of 10,000, sitting at number two in our list is Rhodes. Known for its rich cultural past, Rhodes is a mosaic where ancient civilizations echo through the cobbled streets of its Old Town—a UNESCO World Heritage Site.

Pros

• Stunning Landscapes: On the island's coast, retirees can indulge in the serenity of Aegean Sea vistas. Pristine beaches like Tsambika, Agathi, and Prasonisi offer not just a place to bask in the sun but also opportunities for leisure activities such as swimming, snorkeling, and even windsurfing. Meanwhile, the medieval city of Rhodes, with its Palace of the Grand Master and Street of the Knights, offers a journey back in time. ‍
• Abundant Nature: Rhodes boasts lush valleys and hills, perfect for nature walks and exploration. There is a Windmill farm near Prasonisi that has amazing roads running to each Windmill.
• International Community: The island is also a home to thousands of expats. They come to Rhodes for the extended summer season and the community bonds. Rhodes is ideal for expats living in Greece because most inhabitants speak English.

Cons

• Lack of Accessibility: Due to its ample size, you must need a car to get around.
• Possible Overcrowding: RHO is the 4th busiest airport in Greece after Athens, Thessaloniki and Heraklion.

The blend of natural beauty, ancient history, and a touch of cosmopolitan living makes Rhodes an enchanting spot for retirees looking for a place to relax and immerse themselves in a mosaic of experiences.

1. Peloponnese

And taking the spotlight in our list of best places to retire in Greece is the Peloponnese. The Peloponnese is a region steeped in iconic sites, where retirees can immerse themselves in places that have inspired countless myths. It's a place where ancient ruins meet olive groves, and the towering peaks provide a backdrop for a tranquil retirement life.

• Rich Historical Tapestry: Home to sites like Olympia, Mycenae, and Epidaurus, the Peloponnese is perfect for those who appreciate history and culture. Retirees can spend their days exploring these ancient treasures, like in the tomb of Leonidas in the land of Sparta.
• Ease of Travel: The large area of the Peloponnese is easily explored with the convenient bus network.
• Natural Beauty: For nature lovers, the diverse terrain offers everything from pristine beaches to stony mountain paths. A retiree here might start the day with a swim in the crystal-clear waters of the Mediterranean and end it with a hike through the forested slopes of Taygetos or Parnon.
• A Slower Pace of Life: Villages such as Monemvasia and Nafplio resonate with a sense of timelessness, ideal for "slow living".
• Sense of Community: The Peloponnese is known for its strong community feel. Retirees can expect a warm welcome and an invitation to participate in local festivals and traditions, providing a genuine sense of belonging.

In the Peloponnese, we couldn't find any disadvantage for retiring here! Every day is an opportunity to wake up to explore a world where myths and legends live.

Discovering Hidden Gems

In addition to our list of six best places to retire in Greece, we have also featured these hidden gems that offer a more intimate setting.

• Karpathos: Situated between Crete and Rhodes, the island of Karpathos boasts untouched beaches, traditional villages, and a peaceful way of life. Retirees can immerse themselves in local customs, particularly in the village of Olympos.
• Monemvasia: A fortress town off the east coast of the Peloponnese, Monemvasia is only accessible by a causeway, giving it a secluded feel. Its medieval charm, car-free streets, and stunning views make it an enchanting spot to call home.
• Alonissos: For nature lovers, the island of Alonissos, located in the Northern Sporades, offers lush landscapes and is part of a marine park, providing opportunities to spot dolphins and seals. The slower pace of life here is ideal for a rejuvenating retirement.
• Kyparissia: In the western Peloponnese, Kyparissia is a place of natural beauty combined with history. With its long sandy beaches, sea turtle nesting sites, and historic castles, retirees find a harmonious balance of nature and culture.
• Nafpaktos: Overlooked by many, this coastal town on the north coast of the Gulf of Corinth has a romantic port, a well-preserved castle, and a historic center. Its authentic ambiance is perfect for retirees drawn to understated elegance.

Securing Residency Permits

For non-EU nationals, the Greek government offers two different types of residency programs for retirees.

1. The first residency program that is most suitable for retirees and pensioners is the FIP, or the Financially Independent Person's program. To qualify, the deposit amount of €48,000 must be shown in the first year, and additional amounts in the second and third year (TBD soon). Instead of a deposit, the applicant can also demonstrate a passive income of €3,500 per month from their pensions through bank statements. Read more here.
   
2. The second type of residency permit is known "Golden Visa," which is a residency by investment program. This Visa requires a substantial investment amounting to €800,000 in real estate, but in return, it grants a renewable five-year residency permit. See more about the Golden Visa legislation changes here.

The standard retirement visa process involves:

• Proof of a stable income: Retirees must show they have sufficient funds to cover their living expenses without needing to work in Greece. The required amount may vary, but generally, a monthly income from a pension or through passive income of at least €3,500 is expected.
• Health insurance: Applicants need to have comprehensive health insurance that covers medical expenses in Greece.
• A valid passport: A valid passport or other travel document recognized by the competent Greek authorities. The validity of your passport must be at least three months beyond the end of the period for which the visa is applied.

Keep in mind that regulations and requirements can change, so it is wise to consult with the Greek consulate or an immigration attorney before making any firm plans. Have questions about the different residency programs? To get in touch with our team, book your free 30-minute consultation call here.

Learning the Language: Do You Need to Speak Greek?

Retiring in Greece means immersing yourself in a new culture, and language is a significant part of that experience. While it is not mandatory to learn Greek before you arrive, having a basic understanding of the language can make the transition smoother. Here are some points to consider:

• Community Integration: Speaking Greek, even at a basic level, can vastly improve your ability to integrate into local communities. Greeks are known for their hospitality, and your efforts to speak their language will be met with appreciation and often, friendship.
• Daily Convenience: For everyday tasks like shopping, visiting the doctor, or dealing with bureaucracy, knowing Greek can alleviate many stresses. While younger Greeks often speak English, this is less common among older generations.
• Cultural Enrichment: Learning Greek opens doors to deeper cultural connections. You'll be able to understand traditions, participate in festivals, and enjoy local entertainment on a whole new level.
• Language Resources: Thankfully, Greece offers numerous resources for language learning. From in-person classes to mobile apps, retirees can easily find tools to help them pick up the language at their own pace.

While speaking Greek is not a strict requirement, it certainly enriches the experience of retirement in Greece.

The Final Checklist

To glide through the transition to Greece smoothly, here is a final checklist to ensure that everything is correctly put into place:

• Legal Documentation: Ensure passports are valid for the long term. Investigate visa requirements and residency options for retirees, possibly consulting with an immigration lawyer who specializes in Greek laws.
• Healthcare Coverage: Research the Greek healthcare system. Secure international health insurance or determine if you qualify for the local healthcare once you become a resident.
• Financial Planning: Set up a financial plan that includes budgeting for living costs in Greece. Ensure you have access to your funds internationally, either through banks or digital payment services.
• Tax Considerations: Understand how relocating affects your tax situation. Seek advice from a tax professional on potential tax obligations both in Greece and your home country.
• Accommodation: Before making the permanent leap, rent in your chosen locale. This trial period helps to grasp the lifestyle and decide if it fulfills your expectations.
• Language Preparedness: While many Greeks speak English, learning basic Greek phrases will enhance daily life and help integrate into the community.
• Cultural Adaptation: Research local customs and holidays. Engage with expat communities for insights and connections.
• Essential Services: Identify important services such as banking, grocery stores, and transportation options in your new neighborhood.
• Personal Affairs: Ensure your will, insurance policies, and any other personal affairs are updated to reflect your move.

By carefully considering each of these aspects, the transition to life in Greece can be seamless and hassle-free.