Greece Raises: Greece has implemented stricter rules for its Golden Visa program, raising the required investment to as much as 800K euros in an effort to alleviate a housing crisis.
Launched in 2014, the program has been successful in attracting thousands of Chinese investors, offering a renewable five-year residence permit in exchange for a 250K-euro property investment.
Greece Raises New…
The finance ministry announced that effective immediately, the investment threshold would increase to 800K euros in attractive regions.
These measures are part of the government’s broader housing policy, aiming to collaborate with the private sector to ensure affordable and high-quality housing for all citizens.
Under the new regulations, investors must purchase a property of at least 120 square meters. However, for historic properties and industrial buildings converted into living accommodation, the minimum investment remains at 250K euros.
Data from the Migration Ministry indicates a surge in demand for the Golden Visa program, with 10,214 applications for initial visa-related acquisitions or renewals recorded last year. In 2023, a total of 5,701 Golden Visa permits were granted, while 8,800 applications are currently pending.
The tightening of Golden Visa rules reflects Greece’s commitment to addressing its housing crisis while maintaining its attractiveness to foreign investors.
These changes aim to strike a balance between stimulating investment and ensuring sustainable housing solutions for both citizens and newcomers.
Also Read:US Immigration Fee Hike Update