Greece is a great place for a vacation, with its sunny skies, warm beaches, sparkling waters and charming traditional villages. Those attributes also make it a great place to retire in – especially since the cost of living in Greece is 30% lower than almost anywhere else in Europe.

As a retiree you'll need a residence permit to live in Greece, which you can obtain by providing proof that you have an independent income of at least 2,000 euros per month. (In late November 2015, the exchange rate was one euro to US$1.06, so that's approximately $2,120.)

While you're researching where to live in Greece, be sure to consult Numbeo.com and Expatistan.com. These crowdd websites list current average prices for basic necessities in cities around the world, such as rents, utilities, groceries and transportation. (The sites also let you compare the cost of living in different cities.) InternationalLiving.com is another good for researching places to retire.

Your final choice should depend not just on your finances, but also on your personal preferences and interests. The five places listed here will appeal to a range of tastes.

You can't beat Athens when it comes to world-class museums and historic sites. The Acropolis is just the beginning; after all, this is the birthplace of western civilization. Your days can be as full as you want: a stop at the National Archeological Museum, a visit to the ancient ruins in the Agora, or just settling in to people-watch at an outdoor café in the old historic neighborhood, Pláka. A big bonus to living in or near Athens: Ready access to the capital's good doctors and hospitals. Note: If you choose to relocate to Greece, you'll have to pay for private health insurance; there's no government plan for expats. (For more on this, see: Plan Your Retirement Abroad, Is My Health Insurance Good Abroad? and Top 10 Travel Health Insurance Companies.)

The island of Mykonos, in the Cyclades, has long been popular with tourists, and not just for its stark, whitewashed buildings and heart-stopping Mediterranean views. This island loves to party, and you'll find Europeans from all over thronging the beach bars, cafés and nightclubs. Not surprisingly, the rents and other living expenses on Mykonos are considerably higher than in the other places on this list.

Claiming you know the best beach in Greece is a surefire recipe for an argument. We'll just say you won't be disappointed by Myrtos Beach (pictured here), on Kefalonia (also spelled Cephalonia), the largest of the Ionian islands. Myrtos frequently appears on lists of best beaches – in the world, not just in Greece. Steep limestone cliffs and green hills rise behind a white beach of sand and pebbles, lapped by clear blue waters. And if you ever tire of Myrtos, Kefalonia has 35 other beaches to tempt you (plus plenty of other attractions).

While the Greek islands and their beaches get most of the attention, the mainland has spectacular scenery of its own. If you like to hike – or even just stroll – consider Mani, in the southern part of the Peloponnese, the peninsula west of Athens. Base yourself in the town of Kalamata and venture out on day trips to explore this wild and rugged region on foot. A network of trails winds through varied and dramatic scenery, taking you past ancient stone towers and into tiny villages among the olive groves.

Europe's warmest city is Ierapetra (pronounced yeh-RAH-peh-tra), on the southeast coast of Crete. Yearly temperatures average 68°F and the sun shines 3,000 hours per year. Thanks to the mild climate, Ierapetra is a busy tourist center with a restaurant-lined waterfront. The sprawling island of Crete has a multitude of attractions, both cultural and scenic. Bonus: According to Numbeo.com, rents are typically lower in Ierapetra than in any other city it lists. Win-win.

This short list offers only a few of the many options in this diverse country. While Greece's current financial crisis should not be ignored, there's no telling what the future will bring. Stay informed about how austerity cuts, strikes and political instability are affecting expats. (For example, putting your hard-earned retirement savings in a Greek bank isn't advised; better to use a large international bank instead.) If Greece remains your first choice for retirement, this list will give you a good start in planning some on-the-ground research to find the spot of your dreams.