Holiday homes: Retirement under the palms – Where in Greece the retirement home is still affordable
More and more Germans want to spend their retirement permanently in Greece. In addition to the sun, tax benefits are also attractive. The Handelsblatt names regions that are still affordable.
A home by the sea, mild winters and plenty of time in the southern sun: For many Germans, Greece is more than just a holiday destination. A house in the south serves initially as a retreat for the holidays and can later become the focal point of a new phase of life. This trend is evident according to figures from Dutch property intermediary Elxis – At Home in Greece.
Around 30 percent of the foreign clients that the company represents want to buy in Greece in order to live there permanently. Among German clients, this applies to roughly one in five, says Elxis managing director Giorgos Gavriilidis to the Handelsblatt. Calculations based on consumer price databases Numbeo and Living Cost show that living costs in Greece are around 20 percent lower than in Germany.
Additionally, the Greek government attracts foreign retirees with tax advantages. The political and economic uncertainty in Germany may also influence the decision to choose Greece, says Gavriilidis. But in which regions of the country is a purchase worth it?
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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