
Following the example of other European countries, the Greece Golden Visa provisions and eligibility criteria are set to tighten regarding granting access to 3rd country citizens – individuals residing in non-EU member-states.
German-based financial publication Handelsblatt notes that in Greece, the prices for residence permits have increased (…) requiring buyers from non-EU countries to invest at least €400,000 in a single property. In Athens, Thessaloniki, and on Greek islands with more than 3,000 residents, the minimum investment amount has risen to €800,000.
The Golden Visa scheme, launched in 2013, is a financial instrument allowing 3rd county nationals to receive a five-year residence permit in exchange for investment. It was introduced as a way to boost the flow of foreign capital in the cash-strapped country after the 2010 financial crisis.
In its analysis, the German medium continues that investments can no longer be split across multiple properties. Instead, they must be directed towards a single property with a minimum area of 120 square meters. While these properties can be rented out, they cannot be leased as short-term vacation rentals.
The minimum investment through the Golden Visa in Greece for real estate in Athens has been set at €800,000.
With these measures, the Greek government aims to channel investor interest in the golden visa program toward luxury properties, which, due to their high price and large size, are unaffordable for local buyers.
The financial publication also notes that “despite the higher prices, Greece appears to have benefited from the termination of similar programs in other countries. Since its inception about 12 years ago, the program is estimated to have generated investments totaling €9 billion.
Source: Tovima.com


Latest News

Greece Records 469 Suicides in 2024, Crete and Attica Most Affected
Report highlights alarming suicide trends in Greece, calls for improved mental health support and better reporting

Greek Consumer Group Calls for Market Boycott Over Price Hikes
Greece’s consumer federation is calling on citizens to avoid spending a single euro on Feb. 19 in protest to the rising prices of basic goods.

Govt Eyeing Solution for Swiss Franc-pegged Mortgages, Loans
Euro’s depreciation against the Swiss franc has caused tens of thousands of mortgagors and guarantors to despair after economic crises

Greece Gears Up for First Hydrocarbon Drilling in Crete in 2025
"It is possible that within the year, we will see the first exploratory drilling, most likely in the Crete region, which will give us an initial picture of potential hydrocarbon deposits," Sdoukou emphasized

ERGANI: Monthly Average Salary in Greece Up By 7.2% in 2024
In 2024, there were 312,000 more employees than in 2023, reflecting a 4.1% increase (2,390,157 workers compared to 2,296,845 in 2023)

Greek PM Appeals for Calm, Says Santorini Phenomenon ‘Complex’
The Greek government announced daily public briefings on Santorini quake activity to reassure citizens

Greek Finance Minister Presents Measures to Tackle Private Debt
A permanent compensation mechanism is being established for those affected by the collapse of the insurance company "Aspis Pronoia," thus resolving outstanding life insurance compensation claims

Athens International Airport: Passenger Traffic Up 14.5% in January
Notably, in 2024, Athens’ main airport entered the top 10 European airports for the first time in its history, according to Eurostat

Yannis Papachristou Appointed New HCAP CEO
Papachristou, born in Greece in 1970, began his academic journey at the National Technical University of Athens, where he studied Chemical Engineering

A Glimpse at Santorini’s Past: Ancient Quakes, Timeless Wonders
While Santorini’s volcanic nature continues to shape its landscape, it has also granted the island an extraordinary history and cultural legacy