How much does it cost to live on the most “photogenic” islands in Greece?

Compared to other regions in Western Europe, Greece stands out for its more affordable cost of living, which has made it a favorite among digital nomads and professionals who need to live there for work. But is this cost of living the same on the Greek islands favored by social media, such as Santorini, Mykonos, and Crete?

In this case, the picture changes considerably. The high tourist demand and the visual exclusivity of these destinations make the experience more expensiveJoin us as we review some data.

Santorini: beauty and high cost

With over 9.6 million mentions on Instagram, Santorini is the visual jewel of Greece, famous for its blue domes and sunsets. 

However, it is also one of the most expensive islands to live on. The monthly cost of living for one person (excluding rent) amounts to $1,659. 

The limited availability of housing and high seasonality raise rental and utility prices, making it more suitable for temporary stays or profiles with high purchasing power.

Mykonos: seasonal glamour

Mykonos, with over 6.6 million hashtags, is synonymous with luxury, nightlife, and exclusivity. Although the estimated monthly cost without rent is $560This figure can be misleading. 

The reality is that the island has high housing and basic goods costs during peak season. Its small population and tourism-based economy make permanent living complex and expensive for those seeking stability.

Crete: a more balanced option

Crete combines visual appeal with economic viability. Despite having 7.6 million mentions on social media, its size and diversity make it more accessible. 

The estimated monthly cost for one person is $619which positions it as a reasonable option compared to Santorini and Mykonos. 

Its more developed infrastructure, larger population (more than 623,000 inhabitants) and more diversified economy allow for a more stable and affordable life.

Comparison with the rest of Greece

In general terms, the average cost of living in Greece for 2025 is around USD 850 to 1,100 per month for a single person, including rent, according to data from Expat-U. 

This means that living in Santorini can be a 50% more expensive than the national average, while Mykonos and Crete remain in a more competitive range, especially the latter.

Residence options for foreigners

Greece offers several options for those who wish to reside legally in the country:

• Golden VisaIt requires a minimum investment of EUR 250,000 in real estate, although in highly demanded areas such as Santorini and Mykonos the threshold has increased to EUR 800,000 (around USD 905,000).
  
• Visa for digital nomadsAvailable for remote workers who can demonstrate a stable income. This option allows residency for up to two years, with the possibility of renewal.
  
• Residence permit based on passive incomeAlso called FIP Visa (Financially Independent Person). Intended for people with verifiable recurring income (pensions, rents, dividends).
  
• Golden Visa for startup investorsIt requires that the investment be made in companies registered in the Greek National Startup Register, for a minimum amount of €250.000.
  

Interested in settling in Greece? AIM Global can help you.

While Santorini and Mykonos dazzle with their aesthetics and exclusive lifestyle, their high cost makes them limited options for long-term residence. On the other hand, Crete represents a more balanced alternative in terms of cost and quality of life. 

Those interested in establishing themselves in Greece have in AIM Global the best strategic partner, with offices in Europe and a team with vast knowledge of the European market.

Schedule today a meeting with us Start today to build the foundations of a comfortable and stable life for you and your family.