Greece: The Perfect Retirement Destination

GREECE – THE PERFECT RETIREMENT DESTINATION

As a purely financial investment, Greek property is a slow gainer. The government has actively tried to discourage speculation, through building restrictions and a harsh gains tax. As somebody who lives in this beautiful country, I am glad that it has gone down this route. Greece has largely avoided the condominium fetish of many other Mediterranean destinations.

Investing in Greece is not about making money but about investing in a lifestyle. Whether you want to have a holiday home to return to year after year, or a beautiful place to retire, it is one of the most popular destinations. Under threat from Eastern European and Turkish hot-spots, the government actively promotes the country as a retirement destination and is building the necessary support network. Here are some of the reasons for moving to Greece.

1) The Price of Property: Mykonos, Athens, and even Crete can be very expensive destinations, but there are many areas with hidden bargains. It is still possible to buy a decent house for less than 100 000 Euros. In addition, it is reasonably cheap to build or renovate a house if you want something individual and unique.

2) The Quality of Life: Greece has one of the best diets in the world, a beautiful climate for nine months of the year and the wonderful European café culture. Life is much simpler in Greece.

3) Transport Links: Greece is very easy to get to from most major European destinations and the US. It is well served by good ferry links so, if you want to spend your retirement years touring the Med, Italy, Cyprus and Turkey are just some of the possibilities. Of course, you could spend a lifetime exploring Greece and only just scratch the surface.

4) Filoxenia: The Greeks are one of the most hospitable races on Earth, with a ‘Love of Strangers,’ and the locals will quickly make you feel like part of the community.

5) The Cost of Living: Whilst the introduction of the Euro has pushed prices up, it is still a cheap place to live, especially if you are prepared to cook instead of relying upon supermarkets. A couple, assuming no rent or mortgage, can comfortably survive on 500 Euros per month. With 800 Euros every month, life is a dream.

Of course, Greece is a varied country and the various areas offer different advantages and disadvantages. Short-term rentals can be found very cheaply, so there is no harm in renting a place for six or twelve months and sampling the area.

Photo courtesy of Kym McLeod: www.gisministry.org