Scope of the study is to compare the heating systems most commonly used in the Greek residential sector, by using the equipment's efficiency and the lifecycle cost as criteria. As the majority of buildings were constructed prior to the introduction of mandatory thermal insulation in 1979, space heating is the major cause of energy consumption in residential buildings. This fact, combined with the ongoing economic recession and the high cost of energy carriers, has led to a rapid increase of households not being able to cope with rising heating expenses. Consequently, the cost of energy has become over the past years the dominant factor when determining the selection of a heating system, often placing the system's efficiency or environmental aspects in the background. A variety of technologies has become available on the market, with each heating system having distinct advantages and disadvantages, and it is therefore necessary to examine the alternatives paying particular attention to their running costs. In that sense, when selecting the appropriate heating system, be it for a new dwelling or in particular when replacing an existing one, understanding the main operational features of the different systems, their pros and cons, their efficiency ratings and running costs, is essential. This study aims to facilitate this selection by describing and comparing different heating systems for the statistically representative three floor, multifamily apartment building, built according to the latest Greek energy efficiency regulation. A sensitivity analysis has been carried out for the four climatic zones in which Greece is subdivided with climatic conditions similar to those found throughout the Mediterranean. The systems' overall performance is evaluated based on their total lifecycle cost as well as the environmental burden associated with the fuel used. (C) 2016 Elsevier B.V. All rights reserved.