Retiring in Greece: What to Know About Real Estate and Residency
Thinking about retiring in Greece? You are not alone. With its beautiful beaches, historic towns, sunny climate, and affordable lifestyle, Greece is one of the top retirement destinations in Europe. But before you pack your bags, it is important to understand how real estate and residency work for retirees.
In this guide, we will cover everything you need to know about retiring in Greece, from buying property to getting your residency permit.
Start your journey with trusted experts at Chase Real Estate Corfu.
Why Retire in Greece?
Retiring in Greece offers a unique mix of benefits:
-
Mild Mediterranean Climate: Enjoy warm summers and mild winters.
-
Affordable Living Costs: Compared to other European countries, Greece is very budget-friendly.
-
Rich Culture and History: Explore ancient ruins, museums, and festivals.
-
Friendly Communities: Greeks are known for their hospitality.
-
Excellent Healthcare: Good private healthcare options are available at reasonable prices.
Many retirees are also drawn to peaceful island living, especially in places like Corfu. Explore Corfu properties here.
How to Buy Real Estate in Greece as a Retiree
Buying property in Greece is straightforward, even if you are not an EU citizen.
Step-by-Step Guide to Buying:
-
Find a Property: Work with a local agent who understands the market. Chase Real Estate Corfu can help you find the perfect home.
-
Hire a Lawyer: Legal support is crucial for checking property titles and contracts. Learn more about legal guidance for property buying.
-
Get a Greek Tax Number (AFM): Required for buying property and opening a local bank account.
-
Sign the Preliminary Contract: After agreement on price and terms.
-
Final Deed Signing: A notary finalizes the transaction.
Costs to Expect:
-
Purchase tax (usually around 3%)
-
Notary fees
-
Lawyer fees
-
Agent commission
Best Places to Retire in Greece
1. Corfu
A lush island with Venetian architecture, sandy beaches, and a strong expat community. Corfu offers everything from luxury villas to charming village homes. Browse Corfu real estate options.
2. Crete
Crete is Greece’s largest island, offering both lively cities and peaceful villages. Great healthcare, good infrastructure, and a relaxed lifestyle make it a top choice.
3. Peloponnese
This region on the mainland offers traditional stone houses, olive groves, and seaside towns without the crowds of the islands.
Residency Options for Retirees
If you are an EU citizen, you can live in Greece with minimal paperwork. If you are from outside the EU, you have two main options:
1. Residence Permit Through Property Investment (Golden Visa)
The Greek Golden Visa Program grants a 5-year residency permit to non-EU citizens who invest at least €250,000 in Greek real estate.
-
No requirement to live in Greece full-time.
-
Permits extend to spouse, children under 21, and parents.
-
Eligible for renewal as long as the property is owned.
For detailed legal guidance on this, visit this guide from Chase Real Estate Corfu.
2. Financially Independent Person (FIP) Visa
If you can prove a stable income (around €2,000 per month plus extras for dependents), you can apply for this residency.
-
Suitable for retirees who do not plan to work in Greece.
-
Requires full health insurance coverage.
Common Questions About Retiring in Greece
Can foreigners buy property in Greece?
Yes. Non-EU citizens can buy property without restrictions in most areas. Some border regions need special permissions.
How much money do you need to retire comfortably in Greece?
Many retirees live comfortably on €1,500 to €2,500 per month, depending on location and lifestyle.
Is healthcare good in Greece for retirees?
Yes. Greece has a public healthcare system, but many retirees prefer private healthcare, which is affordable and high-quality.
Is it better to rent or buy when retiring in Greece?
If you plan to stay long-term, buying is often more cost-effective. Plus, owning a property can help you qualify for residency through the Golden Visa.
Are there English-speaking communities?
Yes, especially in places like Corfu, Crete, and Rhodes. You will find plenty of English-speaking doctors, lawyers, and social groups.
How can I get help with finding a retirement property in Greece?
Reach out to Chase Real Estate Corfu for professional, personalized assistance.
Tips for a Smooth Retirement in Greece
-
Learn Basic Greek: Locals appreciate any effort to speak the language.
-
Plan Your Finances Carefully: Understand currency exchanges, banking, and pensions.
-
Visit First: Spend time in your chosen location before making the big move.
-
Get Health Insurance: Good coverage is important for peace of mind.
-
Use Trusted Professionals: Always work with a licensed agent, lawyer, and notary.
Final Thoughts: Is Retiring in Greece Right for You?
If you dream of a slower, sunnier, and more affordable life, retiring in Greece could be the perfect move. With beautiful real estate options, friendly communities, and flexible residency programs, Greece offers a retirement lifestyle that’s hard to beat.
Take the next step toward your dream life in Greece. Contact Chase Real Estate Corfu today.
