The Greek government has officially increased the real estate investment threshold for its popular Golden Visa program in select high-demand areas. These changes aim to balance foreign investment inflows with housing affordability for local residents while maintaining Greece’s position as a leading destination for residency-by-investment.
What Has Changed in the Golden Visa Program?
Starting in 2024, the minimum real estate investment required to qualify for the Greek Golden Visa program has risen to €500,000 in several prime locations, including Athens, Thessaloniki, Mykonos, and Santorini. In all other regions, the threshold remains at €250,000, making them attractive options for cost-conscious investors.
The new investment thresholds reflect a targeted approach by the Greek government to manage rising property prices in high-demand areas, while continuing to promote investment in less-developed regions.
Why the Increase?
The decision to raise the threshold in select areas stems from concerns over rising property values in popular tourist destinations, driven partly by the success of the Golden Visa program. These increases are designed to:
1.Encourage Regional Investment: Direct more foreign investment to underdeveloped areas.
2.Protect Local Housing Markets: Ensure affordability for Greek residents in high-demand regions.
3.Sustain Economic Growth: Maintain Greece’s appeal to investors by offering competitive options in less saturated markets.
Implications for Investors
For existing applicants who have already signed purchase agreements, the previous €250,000 threshold will still apply, provided that their applications are submitted before the transition deadlines. New applicants targeting prime areas like Athens will now need to meet the revised €500,000 investment requirement.
Advantages of the Greek Golden Visa Program:
•Schengen Access: Visa-free travel to 27 EU countries.
•Path to Citizenship: Eligibility for naturalization after seven years of residency.
•Family Inclusion: The program extends benefits to immediate family members, including spouses and children under 21.
Yusuf Boz’s Insight on the Changes
Investment migration expert Yusuf Boz commented on the updated requirements, stating:
“Greece’s adjustment reflects its commitment to balancing foreign investment with local needs. While the increased threshold in prime areas may seem steep, the unchanged €250,000 threshold in other regions provides excellent opportunities for strategic investors.”
Boz emphasized the importance of acting promptly:
“With continued demand for residency in Greece, investors should take advantage of the more affordable regions before thresholds rise across the country.”
2025 Expectations for Greece’s Golden Visa
As Greece continues to refine its Golden Visa program, experts predict:
1.Increased Interest in Secondary Regions: Investors may shift their focus to areas with lower thresholds, such as Crete or the Peloponnese.
2.Enhanced Program Stability: Greece’s strategic adjustments are expected to enhance the program’s longevity and appeal.
3.Continued Global Demand: With limited options remaining in Europe, Greece will likely remain a top destination for Golden Visa seekers.
A Window of Opportunity
Greece’s Golden Visa program remains one of the most attractive options in Europe, offering residency and investment benefits at competitive thresholds. While higher requirements in select areas may deter some, opportunities abound in the country’s diverse and picturesque regions with lower thresholds.
For investors seeking to capitalize on these changes and secure EU residency, expert guidance is essential. Contact NotteGlobal today for personalized support in navigating Greece’s evolving Golden Visa program.
