Immer mehr Deutsche wollen ihren Ruhestand dauerhaft in Griechenland verbringen. Neben der Sonne locken dort Steuervorteile. Das Handelsblatt nennt Regionen, die noch erschwinglich sind.

ATHENS. A property by the sea, mild winters, and ample time under the southern sun: for many Germans, Greece is more than just a holiday destination. A home in the south initially serves as a retreat for vacations and can later become the focal point of a new chapter in life. This growing trend of Germans seeking to retire in Greece highlights a significant shift in retirement planning, driven by a confluence of economic, lifestyle, and geopolitical factors. The allure of a lower cost of living, combined with attractive tax incentives and a desire for a more relaxed lifestyle, is prompting an increasing number of individuals to consider the Hellenic Republic as their permanent retirement abode.

The extent of this trend is underscored by figures from the Dutch real estate agent Elxis – At Home in Greece. Approximately 30 percent of the foreign prospective buyers the company assists are looking to purchase property in Greece with the intention of living there permanently. Among German enquirers, this figure stands at about one in five, according to Elxis managing director Giorgos Gavriilidis, speaking to Handelsblatt. This data suggests a robust and sustained interest from German citizens in relocating to Greece for their retirement years, moving beyond seasonal visits to establishing a long-term residence.

Economic Incentives and Lifestyle Appeal

Calculations by consumer price database providers Numbeo and Living Cost indicate that the cost of living in Greece is approximately 20 percent lower than in Germany. This economic advantage is a primary driver for retirees seeking to make their pensions stretch further. Lower expenses for housing, food, utilities, and daily necessities can significantly improve the quality of life for those on fixed incomes. Furthermore, the Greek government actively courts foreign retirees with tax benefits. Specifically, Greece offers a flat tax rate of 7% on foreign pension income for individuals who relocate their tax residency to the country for at least 183 days a year. This incentive, initially introduced in 2020, has been extended and is a powerful draw for those looking to optimize their retirement finances.

Beyond the financial advantages, the lifestyle offered by Greece is a significant draw. The country boasts a Mediterranean climate characterized by warm, dry summers and mild, wet winters, making it an attractive alternative to the often harsher climates of Northern Europe. The abundance of sunshine, the proximity to the sea, and the renowned Greek cuisine, rich in fresh produce and olive oil, contribute to a perception of a healthier and more enjoyable lifestyle. The slower pace of life, coupled with a strong sense of community and a rich cultural heritage, appeals to many who are seeking to escape the perceived stress and fast-paced nature of modern life in Germany.

Geopolitical Considerations and Shifting Perceptions

The political and economic uncertainty in Germany may also be influencing the decision to choose Greece, as suggested by Gavriilidis. In recent years, concerns about inflation, rising energy costs, and broader economic stability within Germany have led some individuals to seek more secure or predictable environments for their retirement. While Greece has faced its own economic challenges in the past, its current economic trajectory and the stability offered by its EU membership provide a sense of reassurance for potential retirees. The perceived stability, coupled with the attractive lifestyle and financial benefits, creates a compelling case for relocation.

The image of Greece as a desirable retirement destination has also been bolstered by successful initiatives and a more welcoming approach from local authorities and communities. Many islands and coastal regions have actively promoted themselves as retirement hubs, offering assistance with property acquisition, integration services, and community events tailored to the needs of expatriate retirees. This proactive approach helps to ease the transition for new residents and fosters a sense of belonging, further encouraging long-term stays.

Identifying Promising Regions for Retirement

But in which regions of the country is a purchase worthwhile? While popular islands like Crete and Rhodes continue to attract significant interest, the search for affordability and a more authentic living experience is leading some retirees to explore less-trodden paths.

Crete: As Greece’s largest island, Crete offers a diverse range of environments, from bustling cities like Heraklion and Chania to tranquil villages and secluded beaches. The island boasts excellent infrastructure, including a well-developed healthcare system and international airports, making it accessible and convenient for retirees. Property prices can vary significantly, with coastal properties and those in prime tourist areas commanding higher prices. However, venturing inland or exploring smaller towns can reveal more affordable options. The island’s varied landscape, rich history, and vibrant local culture provide ample opportunities for engagement and enjoyment throughout the year.

The Peloponnese Peninsula: This historically significant region offers a blend of stunning natural beauty, ancient ruins, and charming coastal towns. Areas like the Mani Peninsula are known for their rugged landscapes and traditional stone houses, while towns like Kalamata offer modern amenities and beautiful beaches. The Peloponnese provides a more authentic Greek experience away from the mass tourism of some islands. It is also generally more affordable than many of the popular islands, offering a good balance of cost and quality of life. The region’s diverse geography, from mountains to coastal plains, caters to a variety of preferences.

The Ionian Islands (e.g., Corfu, Zakynthos): These islands, with their lush greenery and Venetian influences, offer a different aesthetic from the Cyclades. Corfu, in particular, has long been a popular destination for expatriates, offering a well-established infrastructure and a vibrant expat community. While some parts of these islands can be expensive, exploring smaller villages or less developed areas can present more budget-friendly opportunities. The distinct culture and stunning natural beauty of the Ionian Islands make them a compelling choice for those seeking a picturesque retirement.

Northern Greece (e.g., Halkidiki, Thessaloniki): While often overlooked in favor of the islands, mainland Greece offers attractive retirement prospects. The Halkidiki peninsula, with its three "fingers" extending into the Aegean Sea, provides beautiful beaches and a more relaxed atmosphere. Thessaloniki, Greece’s second-largest city, offers a cosmopolitan lifestyle with a rich history, excellent cultural attractions, and a robust healthcare system, all at a lower cost of living compared to Athens. Northern Greece provides a more grounded and perhaps less tourist-centric experience, appealing to those who seek a deeper immersion in local life.

Factors to Consider When Relocating

While the prospect of retiring in Greece is enticing, prospective retirees should conduct thorough research and consider several key factors:

• Healthcare: Greece has a public healthcare system, but its quality and accessibility can vary by region. Many expatriates opt for private health insurance to ensure access to private clinics and specialists, which are generally of high quality, particularly in larger cities and on popular islands. Understanding the healthcare options and costs is crucial for long-term planning.
• Bureaucracy: Navigating Greek bureaucracy can be challenging. Obtaining residency permits, registering property, and dealing with local authorities often requires patience and persistence. Engaging with local legal advisors or relocation specialists can significantly ease this process.
• Language: While English is widely spoken in tourist areas and among younger generations, learning some basic Greek phrases can greatly enhance daily life and integration into local communities, especially in more rural areas.
• Property Market: The Greek property market has seen fluctuations. It is advisable to work with reputable real estate agents and legal professionals to ensure a secure and transparent property transaction. Understanding local property laws and taxes is essential.
• Integration: Building a social network and integrating into the local community is vital for a fulfilling retirement. Engaging in local activities, joining clubs, or participating in community events can help expatriates feel more at home.

The trend of Germans retiring in Greece is a testament to the country’s enduring appeal as a retirement destination. With its favorable cost of living, attractive tax incentives, and desirable lifestyle, Greece offers a compelling alternative for those looking to spend their golden years in a sun-drenched and culturally rich environment. As more regions become accessible and appealing, the dream of "renting under palm trees" is becoming an increasingly viable reality for a growing number of German retirees. The careful consideration of practical aspects, alongside the embrace of the unique Greek way of life, will be key to a successful and fulfilling retirement in this beautiful Mediterranean country.