Cost of Living in Greece
Due to the market crash of 2008, accommodation rental prices have significantly dropped in major Greek cities, and have subsequently decreased the overall cost of living in Greece. Athens is ranked 40th in the 2010 Mercer Cost of Living survey.
As a rough yardstick, €15,000 per annum is a very manageable combined income for a couple looking to live comfortably in Greece.
Tax and social security contributions in Greece are high, but the concomitant services offered by the government make up for this. Expats are liable for tax on their income as both an employee and as a self-employed person. Taxation of permanent residents is calculated on income earned in Greece and overseas. All income tax in Greece is progressive – income tax brackets range from 0% (up to €12,000) to 40% (above €75,000).
Electricity and telephone bills are high, but both can be effectively reduced by using mobile contracts and minding the use of utilities.
Food is relatively cheap as it is supplied largely by local farms and industry. Most of the food required for a good Mediterranean diet can be found locally, and eating this way is again a good way to reduce costs, as shopping for local over imported products will keep an expat’s bill from running too high.
As a rough yardstick, €15,000 per annum is a very manageable combined income for a couple looking to live comfortably in Greece.
Tax and social security contributions in Greece are high, but the concomitant services offered by the government make up for this. Expats are liable for tax on their income as both an employee and as a self-employed person. Taxation of permanent residents is calculated on income earned in Greece and overseas. All income tax in Greece is progressive – income tax brackets range from 0% (up to €12,000) to 40% (above €75,000).
Electricity and telephone bills are high, but both can be effectively reduced by using mobile contracts and minding the use of utilities.
Food is relatively cheap as it is supplied largely by local farms and industry. Most of the food required for a good Mediterranean diet can be found locally, and eating this way is again a good way to reduce costs, as shopping for local over imported products will keep an expat’s bill from running too high.
