Greece is one of the most popular holiday destinations for Germans. Winters are mild, the sun shines over 300 days per year, and the cost of living is comparatively low.
Prime Minister Kyriakos Mitsotakis wants to attract pensioners with tax incentives. Foreign pension recipients pay an income tax rate of just seven percent, provided they spend at least 183 days a year in Greece. However, there are also exceptions that still have to be taxed in Germany - such as rental income from Germany or civil servants' pensions. The German pension insurance pays around 1.8 million pensions every year to over 150 countries around the world. The need for peace and privacy has been increasing since the pandemic, says Christian Seyrer, managing director of a real estate service specializing in Greece. Some customers also want to go to rural areas because they feel less exposed to dangers such as attacks. The minimum wage in Greece has been 830 euros since April 1st. In Germany, there is at least 12.41 euros per hour and therefore 2,151 euros for a full-time job. Manfred and Karin Reuter live as a couple on the popular holiday island of Crete for around 1,200 euros a month. The couple's expenses for groceries, cars, cell phone contracts, medication, etc. are 571 euros. After deducting all costs, the couple can even save 500 euros per month. "The deciding factor was where we could get the best possible quality of life from my almost 1,700 euro pension," Manfred Reuter told Bild. The German pension insurance offers advice on pensions abroad, and the Greek state provides information to those interested on the "Your Guide to Greece" page. For confidential support, call the Samaritans in the UK on 08457 90 90 90 90, visit a local Samaritans branch or see www.samaritans.org.