10 Best Places to Retire in Greece

So you are looking for best places to retire in Greece? Well, our list has just what you need.

Greece was once viewed as an ideal place to live. The amazing culture, good food, and sand sunny beaches. Yeah, it is just one of those places that are destined for the postcards. This is why Greece was always attractive for tourists but also viewed as a prime retirement destination for people all around the world including the United States. If you still have this idyllic picture about Greece, chances are that you didn’t follow the news in the recent years. Since 2009, Greece has been in a serious financial crisis that was followed by political instability, unemployment, and protests. In 2015, Greece’s debt was more than $40,000 per capita. Still, there are signs that the country is recovering, so don’t be scared off completely.

The crisis had some serious impacts on the healthcare system. Before the crisis, Greece had one of the best healthcare systems in the world, with WHO (World Health Organization) ranking it as the 14th best in the world in terms of overall assessment. According to the reports from the 2009, hospital bed to 10,000 people ratio was 48, which tops the ratios of some other European countries like the United Kingdom and Italy. In 2011, the country was spending 9.6% of GDP on healthcare while ranking first among OECD countries in doctors per population ratio. It is safe to say that the things changed. Healthcare took a big hit due to government cuts so make sure you have another option besides the public healthcare system.

Taking everything that is happening in the country, the situation isn’t the best for the natives. However, although it isn’t the prettiest thing to say, due to all the problems Greece is facing, things became better for people who are looking to retire there. There are few reasons for that. Since you already have savings or retirement income, you don’t have to worry about the wage cuts and fewer job opportunities. Also, real estate prices have dropped significantly. For example, on the Island of Mykonos, the prices of apartments and houses have dropped around 30% since 2011. If you are looking to buy a beach house, this is a good time. The cost of living is ridiculously lower when compared to the United States. Everything, from food to utilities is 20% to 50% cheaper.

When it comes to crime, Greece could be described as a fairly safe country. According to the 2016 report from the United States Overseas Security Advisory Council, street crimes like pickpocketing and theft are common, while burglaries and violent crimes are on decrease compared to 2015. Other concerns include social unrests, terrorism threats and high risk from earthquakes. Also, you should probably sustain yourself from driving a car. The road conditions are not the best and Greece has one of the highest per-capita traffic fatalities rates in Europe. Luckily, the public transportation is cheap and efficient. If all of this made you think about other countries in Europe as possible retirement destinations, take a look at our list of 10 Best Places to Retire in Poland.

Now, let’s get to our methodology in making the list of best places to retire in Greece. Although we often use information about the crime rates and physicians per capita when making similar lists, we couldn’t find such data about the Greek cities. This is why we had to improvise a bit. We first looked out for places that were recommended by multiple sources like Investopedia and Expat Forum as ideal retirement destinations or best places to live in Greece. Then we decided to rank them according to Numbeo’s data about the average cost of an apartment per square foot and cost of a meal in a restaurant for 2 persons. We also took into consideration the average temperature through the year and number of rainy days taken from Holiday Weather. After calculating everything into our IM Score, we got the final list of best places to retire in Greece. Don’t hesitate to check it out.

10. Athens

IM Score: 13
Average Cost of Apartment per Square Foot: $141
Meal Cost: $42.34

Our list of best places to retire in Greece opens up with the country’s capital. Who wouldn’t want to spend their retirement days in one of the historically most significant cities in the world? This is where the Western civilization and democracy were born. For any American, this must sound like a dream. From ancient ruins to museum, you will never be bored with so much to see and experience. The sea being fairly close also helps. The coldest month is January with average temperatures of 50°F, while the warmest are July and August with 84°F which also have the fewest rainy days.

9. Thessaloniki

IM Score: 15
Average Cost of Apartment per Square Foot: $121
Meal Cost: $31.76

Being the country’s second largest city, Thessaloniki also has a lot to offer to those who want to enjoy in Greece’s rich culture and don’t mind a large number of tourists. The city is even considered to be the culture capital of Greece. It is a bit colder here than in Athens, with temperatures dropping to 43°F in January and climaxing in July and August with 77°F. You can also expect a lot of rain from November to January.

8. Corfu

IM Score: 16
Average Cost of Apartment per Square Foot: $99
Meal Cost: $31.76

If the island is something that attracts you more, we have plenty of those on our list of best places to retire in Greece. We will start off with Corfu, which is an important island for the history of Greece and a place of many battles. Besides archeological and culture appeal, Corfu is known as a holiday destination with plenty of sand beaches and holiday resorts scattered across the whole island. The thing you may not like is the weather since Corfu has the largest number of rainy days compared to other places on the list. January and February are coldest months with the temperature of 50°F while July and August are months with the warmest average temperature of 77°F.

7. Rethymno

IM Score: 18
Average Cost of Apartment per Square Foot: $187
Meal Cost: $26.46

This is a smaller city, where you can spend your retirement days in a calm fashion which wouldn’t be the case in some other places. The prices of apartments are high, but at least the food is cheap. You don’t have to spend your time only browsing through archeological sites, but you can also enjoy in waterfalls, rock formations, and overall beautiful nature. The average temperatures are pleasant, minimum being 50°F in January and maximum 79°F in July. There are plenty of rainy days, reaching up to 15 on average in December alone.

6. Kefalonia/ Cephalonia

IM Score: 18
Average Cost of Apartment per Square Foot: $110
Meal Cost: $31.76

Unlike other islands on the list of best places to retire in Greece, Kefalonia wasn’t such a big touristic destination in the past. Now, it is a popular holiday destination for Italians, so you should expect some fine wine and pasta smell spreading all over. It is known for fishing villages, beautiful beaches and lovely nature including underground lakes and caves. January has the lowest temperature of 48°F while July and August are warmest with 79°F. You can expect most rain in December and January.

5. Kalamata

IM Score: 18
Average Cost of Apartment per Square Foot: $94
Meal Cost: $31.76

If you like olives, there is no better place than this. The city is widely known for its Kalamata olive that only grown in this region. Other things you may like about Kalamata include the rich food markets, archeological sites and the fact that the city isn’t crowded with tourists. The average temperatures go up to 77°F in August, while January is the rainiest month, with 12 rainy days on average.

4. Patras

IM Score: 19
Average Cost of Apartment per Square Foot: $133
Meal Cost: $31.76

For those interested in something more modern, Patras can be a good pick. The city is famous for its carnivals and festivals, while also supporting performing and street arts. Of course, like almost everywhere in Greece, there are lots of historically important things to see as well. It has similar weather like the previously mentioned cities, but it can get hot in August when the temperatures are 81°F on average. And now, let’s see the top three in our list of best places to retire in Greece.

3. Crete

IM Score: 19
Average Cost of Apartment per Square Foot: $89
Meal Cost: $29.11

Didn’t we say there are plenty of islands on our list of best places to retire in Greece? Crete is Greece’s biggest island, being a popular touristic, retirement and holiday house location. The island itself consists of few cities, but our sources mostly recommended the whole island. June, July, and August are the hottest months and usually have 1 rainy day on average, while January has 14 rainy days and is the coldest month.

2. Santorini

IM Score: 23
Average Cost of Apartment per Square Foot: $74
Meal Cost: $42.34

Many travel sites and magazines listed Santorini as one of the world’s top islands, so you can’t make a mistake here. It also has the cheapest prices of apartments, but restaurant meals will probably make up for it. The reason for that is the unique cuisine that will satisfy any gourmet. We should warn you that the island had some devastating earthquakes in the past, the last being in 1956. The weather is perfect for those who don’t like rain since Santorini has a small number of rainy days. January and February are the coldest months, while July and August are the warmest.

1. Rhodes

IM Score: 24
Average Cost of Apartment per Square Foot: $87
Meal Cost: $34.40

Rhodes emerged as a favorite on our list of best places to retire in Greece due to cheap apartment costs and reasonable food prices. This makes the island one of the favorite touristic destinations in whole Europe. The fact that the weather is great with optimal temperatures, up to 300 sunny days in a year and a few rainy days doesn’t hurt. Rhodes is a perfect mix of culture, archeology and beautiful beaches with crystal clear sea. If you ask us, don’t hesitate and book a one-way ticket to this heaven on Earth. It is just matter of time before it becomes less affordable.