The Greek government has increased the required investment threshold for obtaining a Golden Visa, which used to be a five-year residency permit that costs €250,000. This is effective as of August 31, 2024.
The purpose of this move is to manage the high number of applications and to control the rising sale and rental prices in the real estate market.
The change in the required investment threshold has also affected areas like Piraeus, Rhodes, Halkidiki, and Crete, where the Golden Visa program increased to the €400,000 benchmark.
However, there are property options that have lower options. If you’re looking to spend only €250,000 on a property investment in Greece, you need to purchase a property that was either converted from a commercial use to a residential one or invest in a property of cultural or historical significance that you fully restored.
Government officials explained that the potential modifications to the Greek Golden Visa program could encourage more significant investments. However, a lower investment threshold would be maintained for specific properties to direct investments towards those in dire need. Despite not including prime locations in Attica, foreign investors continue to express interest in other valuable areas.
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