Living in Mykonos seems like the dream, doesn't it? Beautiful sunshine all day every day. Strolls on the white sandy shorelines whenever you want. Authentic and rich Greek cuisine for breakfast, lunch, and dinner. And, of course, swimming in the beautiful Mediterranean city every chance you get! If that's not a good life, what is? Well, it actually won't be if you don't know how much, exactly, you'll need to spend on the regular. Do you know the living costs here in Mykonos? Don't worry if you don't! Here are everything you need to know about it.
Costs for Renting in Mykonos
Let's start with renting in Mykonos. As you've probably already seen, the island isn't exactly made up of high-rise apartment buildings. The homes here
are simpler, humbler, and more quaint. Without, however, sacrificing the luxe factor for a lot of them. So it should come as no surprise that renting in Mykonos isn't as expensive as in the likes of Paris
, and more. The common range for a one-bedroom place in the city center is from €700.00 to €1,000.00. While for a three-bedroom home in the same are, it'd cost around €1,200.00 to €2,500.00.
Costs for Buying Property in Mykonos
But what about actually buying property here? How much will you have to shell out? Well, they are, of course, pretty expensive. No matter which neighborhood in Mykonos
you choose to settle down in, buying actual land here will always cost you a lot. Though, again, it's not as expensive as in other European cities. The common median price per square meter for a place in the more urban parts of Mykonos is €5,000.00. While it's €4,000.00 for a place along the outskirts of the city. Either way, prepare to break the bank for this one!
In terms of your utilities costs, however, they're entirely cheap. How cheap? Think less €200.00 for practically everything! Yep, utilities costs are that low in Mykonos. All your basic costs—including electricity, water, heating, garbage disposal, and more—will only cost you around €80.00 to €127.93 per month. Meanwhile, if you want wifi in your home here, it will only cost you from €25.00 to €50.00 a month. Now, this all feels strange, right? Because the place is such a haven for the world's wealthiest, you'd think it will be more expensive here, right? Well, it may be expensive to go on vacation here, but actually living here is a different story!
Even food costs are extremely low here. A trip to a market to resupply your fridge, pantry, spice shelves and more would only cost you a total median price of €78.79. With just that less than €100.00 amount, you'll already get a loaf of bread, a liter of milk, 1.5 liters of water, and different types of fruits, vegetables, and meant. And this is both surprising and unsurprising for different reasons. It's surprising because, since food is one of Mykonos' main draws as a destination, you'd think food would cost more. But since the island isn't as urban as other Greek cities, there are very few standard grocery stores here. Just open and street markets galore.
Since Mykonos is known to have a lot of must-try restaurants
, you'd expect the dining costs here to be sky-high, right? Well, if you only frequent the expensive places and first-class establishments, of course! But if you go to more affordable places, dining here, such costs aren't that high. In fact, a three-course meal in a mid-range restaurant would only cost about €60.00 to €150.00 for two people. Meanwhile, a meal in an inexpensive place will only cost around €10.00 to €30.00. That's how affordable it is to dine here. You don't have to spend thousands—like what celebrities do—just to eat!
Out of most European cities, Mykonos’ public transport
is probably one of the cheapest. That's because the modes of public transportation here aren't like those in other cities. For one thing, the island doesn't have its own metro system, so there also isn't a daily/weekly/monthly travel pass to purchase here. There are taxis here, but the starting meter fare is only €7.00. Even using a transportation app
won't make the transportation cost here high, or at least high enough to match those in other cities. When all else fails, there are still the classic and novel donkeys!
Surprisingly enough, shopping here is more expensive than what you might have thought. Generally, however, it isn't as high as, of course, those in the more glamorous cities of Milan, Paris, and the like. But as compared to the other costs here on the island, they do seem higher. Though shopping in local Mykonos shops
are cheaper, going for famous high-street brands would likely cost you around €20.00 to €60.00. Meanwhile, a pair of new sneakers from popular sportswear labels would cost a minimum of €55.00 and a maximum of €120.00. They're not that bad overall!
It may not seem like it, Mykonos actually has its fair share of gyms, fitness clubs, sports courts, and more. And if you decide to maintain your fitness while you're here, the costs aren't that high. In fact, they rarely reach €100.00, that is if you go for the more upscale places. But if you register for a mid-range gym membership, it'll cost you €60.00 to €100.00 a month. Want to use a court to play a sport on the weekends? Expect to pay around €20.00 to €40.00 per hour. And when you want to watch a movie. it'd only cost you €9.00 for a ticket.
Childcare & Education Costs
You probably expect education to be one of the highest costs on this list, don't you? Well, it sort of is. Of course, since this is for your kids, you won't have a problem shelling out money for their education. But even you have to admit that it's not so stressful to only spend a common median price of €375.00 per month for a private daycare center or preschool. Meanwhile, for your kid to spend a year in a private/international primary school, it will cost you a median price of around €7,176.92.
Mykonos may seem like the dream destination that all the wealthy elites escape to for a summer holiday, but actually living here is a totally different matter altogether. You'll find that actually staying on the island isn't as overtly expensive as you might have thought!