The cost of living in Greece is considerable lower than in most other EU countries, but it offers a good standard of living and a wonderful quality of life. Studies indicate that the cost of living in Greece is about 30% lower than Cyprus’ and Cyprus’ is 30% lower than Spain’s and Portugal’s. Over and above the lower cost of living, those who purchase property in Greece will be amazed by how inexpensive houses are. In addition Greece has a very low crime rate, low pollution, and plenty of sunshine. All things considered purchaser of holiday homes in Greece have an extremely attractive package.
Annual Income
A couple living permently in Greece can expect to require an annual income of around £10,000 (14,000 Euro). Example;
House running costs + food……………………………£4816
Two people eating out twice per week………………£1664
Garden maintenance…………………………………… £984
Car insurance…………………………………………… £310
Petrol 5,000 miles per year at £2.25p per Gal…... £360
Return trip to the UK to visit family and friends…£600
Contingency fund………………………………………£1266
Total per year…………………………………………£10,000
Food Prices
Prices have risen quite steeply since the introduction of the Euro in 2002. Locally grown produce is cheap when in season. Imported and processed foods are often highly priced.
Furniture/Appliances
To give you an idea of the price of furniture and kitchen appliances, here are some examples for a typical starter package;
Electric cooker…………………………………..£350 (€500)
Fridge freezer…………………………………….£350 (€500)
1 x double bed…………………………………..£275 (€400)
2 x single beds…………………………………..£350 (€500)
Dinning table & 4 x chairs……………………£350 (€500)
Three piece suit (1 x sofa 2 armchairs)…….£730 (€1200)
Patio furniture (plastic table & 4 chairs……£90 (€150)
TOTAL COST………………………………….£2586 (€3750)
Consumers Rights
If you should be unlucky enough to buy a faulty product in Greece you have the same rights of complaint against a Greek retailer as in any other EU country. For further information or advise contact INKA, free tel: 11727 or 210 363 2443.
Car Running Costs
To purchase a small saloon car in Greece (Fiat Panda or similar) would cost around £4,600 (6,700Euro)
Fully comprehensive insurance and road tax is likely to be about £310. (450 Euro)
Petrol is about 65p per litre (0.91Euro)
Car Rental will be £20-£30 per day, depending on size and duration of hire. For 15 days plus, the smallest might cost £18, and a 4WD between £25 and £40
ABOUT US
R & C Property Management provides a wide range of information regarding buying a property in Greece and the Messinia Prefecture. It aims to help home buyers though the minefield of purchasing property in Greece by giving general advice, information and tips on buying property as a home or for investment.
http://r-and-c-pms.biz
For more information about property, living in Greece and the region of Messinia follow the link
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