Why Are American Retirees Choosing Greece?

The Trend Grows Stronger

This wave resembles the recent influx of Israelis moving to Greece—though for different reasons. Israelis often leave due to insecurity caused by regional conflicts. American retirees, on the other hand, seek what they feel they can no longer fully enjoy in their vast home country: sunshine, sea, safety, affordable living, good healthcare, natural beauty, and something deeply important—the feeling of a fresh start at whatever stage of life they retire.

Media Buzz

A flood of articles in respected U.S. media outlets is setting the tone. For instance, Kiplinger Personal Finance—a trusted financial publication based in Washington, D.C.—encourages readers to “Retire in Greece for a relaxed life in a cinematic setting.” Their May article praises Greece as “the birthplace of Western civilization” with a sunny, healthy lifestyle surrounded by countless ancient monuments and miles of picturesque coastline.

Many other similar pieces target Americans approaching retirement, recommending Greece as their top choice—often even above Florida, a traditional hotspot for U.S. retirees. These articles don’t create the trend from scratch; they amplify an existing current that’s rapidly growing. While American retirees moving to Greece haven’t yet reached “crowd” levels, interest is clearly rising among major real estate and legal firms in cities like New York and Chicago.

Raw Numbers Tell the Story

Data from Get Golden Visa, a company assisting clients with global residency and citizenship investments, reveals that over 13,251 U.S. citizens received American Social Security benefits while residing in Greece in 2023—the latest available data. That’s fewer than the 26,397 in the UK, but more than the 10,723 in Portugal and 8,698 in Spain, placing Greece among the top 10 destinations worldwide for American retirees.

According to taxesforexpats.com—a New York-based firm offering tax and retirement services—more than 6,000 Americans already live permanently in Greece, likely enjoying the relaxed lifestyle, warm climate, and lower cost of living.

Official Greek government data from September 30, 2025, shows 537 Americans held Golden Visas, ranking Greece 7th overall, just behind Israelis. Including family members, the total is 1,456. Though this represents only 3% of foreign investors using the Golden Visa program (dominated by Chinese investors), the number of Americans has surged over 50% in just one year—a 52.6% increase compared to the previous year.

Options for Moving to Greece

American retirees have three main options for relocating, besides the highly attractive Greek Golden Visa program—which ranks first worldwide in reliability, even surpassing Switzerland, according to Henley & Partners.

One affordable route is the Financial Independence Permit (FIP), allowing financially independent non-EU nationals, including retirees, to reside in Greece. Applicants must prove steady monthly income over €3,500 (~$3,900) or savings of €84,000 (~$91,000) in a Greek bank, along with full health insurance. The permit is valid for two years, renewable every three years, requiring holders to stay in Greece for at least 183 days annually. Working for Greek companies is prohibited, but remote work for foreign employers is allowed.

Many Greek-Americans with dual citizenship already own property here and visit occasionally without using these programs, while wealthy buyers also invest independently.

Top Reasons Why American Retirees Choose Greece

Cost of Living: Property taxes and insurance in the U.S. are high and rising, making homeownership tough for retirees. Greece offers a significantly lower cost of living without compromising quality of life. According to International Living, monthly expenses range from $1,196 for one person to $1,945 for a couple, depending on location. Numbeo’s global database shows rents in Greece are 70% cheaper than in the U.S., living costs (excluding rent) 23% lower, public transport 48% cheaper, and mobile/internet services 18% less expensive. For example, a spacious seaside apartment in Crete rents for about the same as a tiny one in Tampa, Florida.

Mild Mediterranean Climate: Long sunny summers and short, mild winters without the severe storms, hurricanes, or prolonged winter shutdowns common in many U.S. coastal or northern states.

Quality Diet: Eating out is far more affordable and a social norm in Greece. The Mediterranean diet’s world-renowned fresh local products—olive oil, fruits, vegetables—are available at a fraction of U.S. prices.

Slower Pace of Life: Life in Greece, especially in rural areas and islands, moves at a relaxed, family-oriented pace. Greeks prioritize family, socializing, and well-being over work stress—perfect for retirees seeking peace.

Sense of Community: Small communities foster connection. People know their neighbors, unlike the isolation many Americans experience. This social closeness motivates many retirees to settle here permanently.

Healthcare Access: Greece ranks well globally for healthcare. Public hospitals provide universal access, while private insurance is widely used and much cheaper than in the U.S., with shorter wait times and English-speaking doctors. Rural areas and islands can have challenges, though.

Tax Incentives: Special tax regimes offer foreign retirees a flat 7% tax rate on foreign income, including pensions and investments, for 10-15 years. This makes moving financially appealing by reducing U.S. tax burdens.

Real Estate Opportunities: Greek property prices are rebounding after the economic crisis but remain more affordable than many U.S. coastal markets. Many retirees buy homes to renovate, enhancing value and personalizing their space.

Safety: Greece is generally safe, with a Level 1 rating by the U.S. State Department and ranks 60th out of 163 countries in the Global Peace Index.