Greece is raising the rates for obtaining the "Golden Visa"
The Greek government is planning to increase the threshold of 250,000 euros for real estate investment to obtain a five-year residence permit, commonly known as a "golden visa," in the near future. This is aimed at curbing demand on one hand and stabilizing or reducing real estate prices on the other.
Officials are currently considering various options, but it seems they are leaning towards raising the minimum amount to 250,000 euros. It is worth noting that real estate sales have surged in regions such as Piraeus, where the threshold for obtaining a residence permit under the Golden Visa program has remained at 250,000 euros, as well as in Rhodes, Halkidiki, and Crete, according to Ekathimerini.com.
The minimum investment amount has been doubled to 500,000 euros in the center of Athens, the northern and southern suburbs, as well as on certain islands in the Cyclades.
According to the Minister of National Economy and Finance, Costis Hatzidakis, "measures will be taken to restrict the 'golden visa' program. The thresholds will be raised to encourage more substantial investments, but there will be exemptions for listed properties, which will have a lower minimum threshold, aiming to channel funds towards a category of properties that are particularly in demand."