Household income

Three out of 10 Greeks in urban centers must allocate more than 40% of their disposable income to housing as a total - rent, electricity bills and so forth - while the cost of housing in general corresponds to 35.6% of the disposable income of households in Greece. 

Greeks consume their savings or borrow to cover their expenses. However, they do not invest, for example, in bonds, shares or pension plans, but only in property, contributing in their own way to the rapid rise in prices.

According to a report by a real estate agency cited by Euronews, one in six Europeans, or 16%, have had to reduce their food intake and cut back on basic living expenses in the past year to manage their housing bills. More than a third, specifically 37%, stated that while they pay their housing costs, they are left with little disposable income.

The government's announcement of a "compassionate" tax break of up to 300 euros a month on tips earned via card payments was not met without complaints, as groups of workers doing equally hard and poorly paid jobs as waitstaff and delivery drivers also want to be included.

Even if a Greek is just having a quick coffee, they'll usually leave a few coins next to the cup. Especially if it's a regular spot where they know the server by name, they'd feel uncomfortable leaving without tipping. Until recently, most customer tips - usually in cash - would be pooled together and shared among the servers at the end of the shift.

In a new video on TikTok, Kyriakos Mitsotakis provided clarification on the regulation included in the new bill of the Ministry of National Economy for taxing tips.

Monthly tips of up to 300 euros for employees in cafes and restaurants will not be taxed, the Finance ministry announced on Tuesday when it unveiled changes to Greece's taxation laws.

The government is working on a plan about the tax treatment of tips, in collaboration with the Independent Authority for Public Revenue (AADE).

Many households in Greece had to cut back on basic food items in 2023 so they could cover other needs, under the suffocating pressure of shrinking disposable income. This, of course, does not mean that they paid less, as the average monthly expenditure for almost the same items increased.

In 2023, approximately 2,400 Bulgarians earned monthly incomes exceeding 50,000 leva (around 25,000 euros), according to data requested by Mediapool. Of these high earners, around two-thirds received between 50,000 leva and 100,000 leva per month, while the highest earners saw annual incomes of up to 6 million leva, derived from salaries and management fees.