How Much Do You Need to Retire in Greece?

For many retirees, Greece stands out as an ideal option, thanks to its slower pace of life, stunning beaches and rich history. But before packing your bags, it's essential to develop a comprehensive budget and assess the cost of living to ensure a smooth transition. If you haven’t chosen a permit yet, start with our guide on how to retire in Greece.

Why Greece is an Attractive Option for Retirees

Greece offers a significantly lower cost of living compared to many regions in the United States and Western Europe, making it an appealing choice for retirees. From affordable housing to reasonably priced groceries, retirees can enjoy a comfortable lifestyle without breaking the bank.

Monthly Expenses: What to Expect as a Retiree in Greece

1. Accommodation: According to Numbeo (October 2026), a one-bedroom apartment in Greece rents for about €393 a month outside a city center and €486 in one. A three-bedroom costs about €669 outside a city center and €818 in one. Central Athens and the popular islands cost more, and smaller towns less. Purchasing property is also an option, with prices varying significantly depending on the location and proximity to the sea or city centers. For more detailed information on the best places to purchase property in Greece, read our comprehensive guide.
2. Utility Bills: Numbeo puts basic utilities (electricity, heating, cooling, water and garbage) for an 85 m² apartment at about €191 a month, and broadband internet at about €28.
3. Groceries: Expect to spend around €200-€300 per month on groceries. Shopping at local markets, known as "laïki," can be cheaper than purchasing from large supermarket chains like AB or Sklavenitis, offering fresh produce at lower prices.
4. Eating Out: Dining out is relatively affordable in Greece. A meal at an inexpensive restaurant costs about €15 per person, according to Numbeo, while a three-course meal at a mid-range restaurant ranges from €30-€50 per person.
5. Transportation: If you prefer not to drive, a monthly public transport pass costs about €30 (Numbeo). Taxis are also reasonably priced, with fares starting at €3.50 and costing around €1 per kilometer.
6. Healthcare: Public healthcare in Greece comes through EFKA, which covers Greek employment or self-employment, so retirees on the FIP visa don’t qualify unless they can prove a previous work history in Greece. Private health insurance is required for your residence permit, so budget for it as a fixed monthly cost. Depending on the area, private doctor’s appointments range from €30-€50.

For a more detailed analysis of the cost of living in Greece, visit our in-depth article here.

Financial Requirements for the Retirement Visa (FIP) 

For the FIP visa, the total deposit amount of €126,000 must be shown for the full three years. The applicant can also show (instead of a deposit), a passive income of €3,500 per month from their pensions through bank statements.

These amounts are for the main applicant. Add 20% for a spouse (€700 a month) and 15% for each child (€525 a month), so a couple needs at least €4,200 a month in passive income.

For more information about the FIP visa requirements, see our Greece FIP visa guide.

The Golden Visa Program

For those looking to make a substantial property investment, the Golden Visa program might be more suitable. The minimum investment depends on the property type and location: from €250,000 for a property converted from commercial to residential use, or a listed building being restored, anywhere in Greece (including Athens), €400,000 in other areas, and €800,000 in high-demand areas including Attica, Thessaloniki, Mykonos, Santorini, Crete, Corfu, Rhodes and a number of larger islands. This visa offers numerous benefits, including residency for the investor and their family members. Read more about the Golden Visa program here.

Conclusion

Greece offers an inviting environment for retirees, with its lower cost of living, beautiful landscapes, and rich culture. Proper financial planning, including budgeting and understanding visa requirements, is essential to make your retirement dream a reality. Whether you’re looking to rent, buy property, or invest significantly, Greece provides a variety of options to suit your needs.

Get a Straight Answer on Your Own Case

Every relocation turns on the details, and the wrong permit or tax status can cost you months. Before you file anything, book a free 15-minute discovery call and we will go through your situation and tell you plainly what you need, what it costs and how long it takes.

Written by Chloe Mason, founder of My Greek Expat Journey. Chloe has lived in seven countries and has personally guided 300+ people through Greek residency, tax, property and bureaucracy. More articles by Chloe.