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Greece – Cost of Living

Greece is a country located in southeastern Europe, known for its rich history, beautiful beaches, and delicious cuisine. Many people choose to visit or even live in Greece due to its affordability compared to other European countries. In this article, we will explore the cost of living in Greece, including currency, comparisons to the UK and USA, breakdown of costs, and common forms of payment.

Local Currency in Greece

The local currency in Greece is the Euro (EUR). The Euro is the official currency of the European Union and is used by 19 of its member countries. One Euro is divided into 100 cents, and there are coins in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 Euro coins. Banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500 Euros.

Cost of Living in Greece Compared to the UK and USA

The cost of living in Greece is generally lower than that of the UK and the USA. According to Numbeo, a website that compares cost of living in different countries, the cost of living index in Greece is 56.81, while the UK is 69.08, and the USA is 76.86. This means that on average, it is less expensive to live in Greece than in the UK or USA.

Breakdown of Costs in Greece

The cost of living in Greece can vary depending on the city or region, as well as the size of the household. Here is a breakdown of some of the typical costs for singles, couples, and families of four in Greece:

Housing

Housing costs in Greece can range from very affordable to expensive, depending on the location and type of housing. In Athens, for example, the average monthly rent for a one-bedroom apartment in the city center is around 450 Euros, while a three-bedroom apartment can cost around 1,000 Euros. In more rural areas, the cost of housing can be even lower. It is also common for Greeks to own their homes rather than rent.


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Food

Greek cuisine is known for being healthy and affordable. Eating out in Greece is relatively cheap, with a meal at an inexpensive restaurant costing around 10 Euros per person. Grocery shopping can also be affordable, with a loaf of bread costing around 1 Euro and a liter of milk costing around 1 Euro as well.

Utilities

The cost of utilities in Greece varies depending on the size of the household and the location. On average, electricity, water, and gas bills for a family of four in Athens can add up to around 200 Euros per month. Internet and mobile phone plans are also reasonably priced, with a typical plan costing around 20-30 Euros per month.

Leisure

Greece is known for its beautiful beaches, stunning landscapes, and historical sites, making leisure activities a popular pastime for locals and tourists alike. There are many free activities to enjoy in Greece, such as visiting ancient ruins, hiking in the mountains, or simply lounging on the beach. Paid activities such as guided tours, boat trips, or water sports can cost between 20-50 Euros per person.

Transport

Public transportation in Greece is generally affordable, with a one-way ticket on a bus or metro costing around 1.50 Euros. Taxis are also reasonably priced, with a typical 10-kilometer ride costing around 12-15 Euros. Owning a car in Greece can be expensive due to high taxes, but gasoline prices are lower than in other European countries.

Clothing

The cost of clothing in Greece varies depending on the brand and quality. Affordable clothing options can be found at popular stores such as H&M, Zara, and Mango, with t-shirts costing around 10-15 Euros and jeans around 30-40 Euros. High-end designer clothing can be more expensive, with a designer dress costing around 300-400 Euros.

Household Goods

Household goods such as furniture, appliances, and electronics can be affordable in Greece, especially if purchased second-hand. New items can also be reasonably priced, with a new refrigerator costing around 300-500 Euros and a new television costing around 200-400 Euros.

Common Forms of Payment in Greece

Cash is still widely used in Greece, although debit and credit cards are becoming more common, especially in larger cities and tourist areas. It is recommended to carry cash for smaller transactions such as purchasing food or drinks at a local taverna. ATMs are widely available throughout the country, and credit and debit cards are accepted at many restaurants and shops. It is important to note that some smaller shops and restaurants may only accept cash.

In conclusion, Greece offers an affordable cost of living compared to other European countries. Housing and food costs can be affordable, and leisure activities are often free or reasonably priced. Public transportation is also affordable, and household goods can be purchased at a reasonable cost. Cash is still widely used in Greece, but debit and credit cards are becoming more common.


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