Economy. Athens, Greece becomes too costly for low-wage locals
SIMERA. In many respects, Athens is cheaper than most major European cities. But for its own residents, stuck with low wages, it is anything but.
Rents are especially onerous for Athenians. With an average net monthly salary of €1,158, they face average monthly rentals of €640 in central city districts, or 55% of their salary.
Other cities are even more expensive in that respect. A one-bedroom rental in central Lisbon costs €1,430 and the average monthly salary is €1,432. A similar flat in central London rents for €2,677, or 70% of the average monthly salary. Similarly, more expensive than Athens are rentals in Rome (65% of average salary) and Madrid (64%).
But there are also cities with higher rents where salaries are high enough to make renting more affοrdable: examples are Vienna, where rents average 38% of salaries, and Paris and Berlin (45%).
Dining is also relatively expensive for Athenians: An average meal, at €15, costs the same as in Paris, Berlin, Rome and Lisbon, and only slightly lower in Vienna, where salaries are significantly higher. Only London (€23.40) is decidedly more expensive, but the average salary there is 3.3 times Athens’.
Meat is also expensive to buy in Athens, while some fruits and vegetables and bottled water are decidedly more affordable. But milk, at an average of €1.66 per liter, is the most expensive of all surveyed European cities. It has already been pointed out that one can buy exported Greek milk at lower prices abroad.
Athens is the third cheapest among major European cities in public transport. But gasoline prices are the highest, due mostly to heavy taxation.
At least private nurseries and schools are cheap. Again, one must take into account the very low local wages.
Property prices, though rising, are still cheap; only Bucharest is cheaper. Meanwhile, homes in London, Paris and Vienna are four to five times more expensive.
