Greece, known for its rich cultural heritage and beautiful beaches, is making changes to its residency-by-investment program.
According to the new rules, starting from August 31, 2024, the investment threshold will be raised from €250,000 to €400,000.
Additionally, holders of the "golden visa" will now be prohibited from renting out their purchased properties for short-term leases. This change aims to encourage genuine investments and strengthen the Greek real estate market. Despite the increased investment threshold, wealthy foreigners are increasingly turning to Greek banks to open deposits and purchase government bonds.
For those considering investing in Greek real estate, there is an opportunity to retain the previous conditions if they pay 10% of the property's value before August 31 and complete the transaction by the end of 2024. It is important to note that Greek residency is granted for five years, and along with the investor, the status is also granted to the spouse, children up to 24 years old, and parents.
Interestingly, after seven years of living in the country, residents have the right to apply for EU citizenship.
This makes the Greek real estate investment program even more attractive to foreign investors seeking stability and new opportunities in Europe.
If you are considering purchasing an apartment or villa on the Greek coast, refer to a verified property catalog to find the perfect investment for your future.
Remember, investing in real estate is not only a way to obtain residency but also an opportunity to enjoy the beauty of Greek nature and culture, becoming part of this amazing country.
