| Category | Cost |
|---|---|
| Apartment Rentals | A one-bedroom apartment in the city center of Mykonos can cost around €800 – €1,200 per month. A three-bedroom apartment in the same area can cost around €1,500 – €2,500 per month. |
| Apartment Purchases | The price per square meter for an apartment in the city center is around €3,000 – €5,000. Therefore, a 70 square meter apartment can cost between €210,000 and €350,000. |
| Transportation | A monthly public transportation ticket costs around €30. Taxis start at €3.50 and increase by €1.30 per kilometer. Gasoline costs approximately €1.60 per liter. |
| Groceries | The average monthly cost for groceries for a single person is around €200 – €300. This includes items like fruits, vegetables, meat, dairy, and other basic food items. |
| Restaurants | A meal at an inexpensive restaurant costs around €15 – €20. A three-course meal for two people at a mid-range restaurant costs around €60 – €80. |
| Utilities | Basic utilities for an 85m2 apartment including electricity, heating, cooling, water, and garbage costs around €150 – €200 per month. Internet costs around €30 – €50 per month. |
| Private School Tuition | Private school tuition varies greatly depending on the school and the age of the student. Preschool can cost around €400 – €600 per month. Elementary school can cost around €500 – €700 per month. Middle school and high school can cost around €600 – €800 per month. |
Monthly Budget for Retirees in Mykonos
“The cost of living in Mykonos is considered to be quite high compared to other parts of Greece. This is largely due to its popularity as a tourist destination. The cost of housing is particularly high, especially during the peak tourist season. Renting a small apartment in the city center can be quite expensive. The cost of groceries and dining out is also higher than the national average. A meal at an inexpensive restaurant can be quite pricey, and a three-course meal for two at a mid-range restaurant can cost significantly more. Transportation costs can also add up, especially if you’re relying on taxis or private car services. However, public transportation is relatively affordable. Utilities such as electricity, heating, cooling, and internet are also a significant part of the monthly budget. These costs can be higher than in other parts of Greece due to the island’s remote location. Despite the high cost of living, many people find the beauty and charm of Mykonos to be worth the expense. The island offers a unique lifestyle with its stunning beaches, vibrant nightlife, and rich cultural heritage,” said one expat living in Mykonos.
Can I live in Mykonos on $1,500 a month?
“I’ve been living in Mykonos for a few years now and I can tell you that living on $1,500 a month is possible, but it would require some sacrifices. Mykonos is known for its luxury tourism, so the cost of living can be quite high, especially during the summer months. The first thing you’d need to consider is accommodation. The most affordable neighborhoods are Ano Mera and Ornos. They’re a bit further from the city center, but they’re still beautiful and have everything you need. You could find a small apartment for around $600-$700 a month. However, neighborhoods like Chora and Psarou are quite expensive, so I’d avoid those if you’re on a tight budget. Next, you’d need to think about transportation. Owning a car in Mykonos can be expensive due to high gas prices and maintenance costs. I’d recommend using public transportation or renting a scooter, which is a popular mode of transport here. It’s cheaper and you can easily navigate through the narrow streets. Food is another major expense. Eating out in Mykonos can be pricey, especially in touristy areas. I’ve found that cooking at home and buying groceries from local markets is a lot cheaper. You can get fresh produce, fish, and meat at a reasonable price. Lastly, you’d need to cut back on entertainment. Mykonos is famous for its nightlife and beach clubs, but these can be quite expensive. Instead, I’d recommend enjoying the free or low-cost activities like exploring the island’s beautiful beaches, hiking trails, and historical sites. In terms of utilities, expect to pay around $150-$200 a month for electricity, water, and internet. It’s higher than in other parts of Greece due to the island’s remote location. So, to sum it up, living in Mykonos on $1,500 a month is doable, but it requires careful budgeting and some sacrifices. You’d need to live in a more affordable neighborhood, use public transportation or a scooter, cook at home, and enjoy the free or low-cost activities the island has to offer,” commented an expat living in Mykonos.
Can I live in Mykonos on $3,500 a month?
“I’ve been living in Mykonos for a few years now and I can tell you that living on $3,000 a month is possible, but it will require some adjustments. Mykonos is known for its luxury tourism, so the cost of living can be quite high, especially during the summer months. However, there are ways to make it work. First, you’ll need to choose your accommodation wisely. The neighborhoods of Chora and Little Venice are beautiful but they’re also the most expensive. I’d recommend looking at places in Ano Mera or Ornos. They’re a bit more affordable and still offer a great quality of life. You’ll also need to be mindful of your spending on food and entertainment. Eating out in Mykonos can be pricey, especially in the touristy areas. I’ve found that cooking at home and shopping at local markets can save a lot of money. As for entertainment, there are plenty of free or low-cost activities to enjoy, like hiking, swimming, or exploring the island’s many beautiful beaches. The nightlife in Mykonos is famous, but it can also be expensive. I’d recommend limiting nights out or looking for local bars and taverns instead of the high-end clubs. Lastly, transportation can be a significant expense. Owning a car in Mykonos is costly due to high fuel prices and maintenance costs. I’ve found that using public transportation or renting a scooter is a more affordable option. So, while living in Mykonos on $3,000 a month will require some sacrifices, it’s definitely possible if you’re mindful of your spending,” said one expat living in Mykonos.
Can I live in Mykonos on $5,000 a month?
“I’ve been living in Mykonos for a few years now and I can tell you that living on $5,000 a month is definitely possible, but it does require some careful budgeting and planning. Mykonos is known for its luxury tourism, so some areas can be quite expensive, especially during the peak summer season. However, there are also more affordable neighborhoods where you can find decent accommodation without breaking the bank. For instance, Ano Mera is a quieter, more residential area where you can find more affordable housing options. It’s a bit further from the main town, but it’s a great place to live if you’re looking for a more authentic, local experience. On the other hand, areas like Chora, also known as Mykonos Town, and the beach areas like Psarou and Platis Gialos, are more expensive due to their popularity with tourists. If you’re looking to save money, I’d recommend avoiding these areas, especially during the summer. As for other expenses, food and drink can also be quite pricey, especially in the more touristy areas. However, there are plenty of local markets where you can buy fresh produce and other groceries at a more affordable price. I’ve found that cooking at home and limiting dining out to a few times a week helps to keep my food budget in check. Transportation can also add up, especially if you’re relying on taxis. I’ve found that renting a scooter or a small car is a more cost-effective option. It also gives you the freedom to explore the island at your own pace. Overall, while living in Mykonos on $5,000 a month does require some sacrifices, it’s definitely doable if you’re willing to live a bit more like a local and less like a tourist,” commented an expat living in Mykonos.
