Greece offers a rich history and culture, a pleasant climate, and excellent cuisine – and yet it is the cost of living in Greece, which is one of the lowest in Europe, that is considered by many ex-pats as a key asset of this country.
Cost of living
As in the case of any other relatively large country located in one or another corner of the planet, the cost of living in Greece varies depending on the specific part of the state. Living in mainland Greece tends to be cheaper than living on the Greek islands when it comes to fuel and some basic commodities.
Living in rural areas is cheaper than living in luxury real estate, but such a life offers access to a much smaller range of goods and services. The northern and southeastern suburbs of Athens are the most expensive areas on the mainland, and the most expensive islands attract the most tourists.
What income can real estate in Greece give?
Like any country, Greece allows you to earn income from luxury villas rentals. There are good earning opportunities here. For example, an apartment or a house in Athens can annually bring up to 4% of net profit, and a hotel – up to 9%. Especially high income can be received during the tourist season when many foreign guests come to Greece. By the beginning of the season, the rental price increases several times.
When buying an object in one of the popular resorts you can ensure a guaranteed income throughout the year since there is a constant influx of tourists here. The advantage of real estate in Greece is the steady growth in value. An object purchased today will cost 20-40% more in 5-10 years. For those who are looking for the future and looking for long-term investment opportunities, this is a very profitable option.