Higher Investment Threshold for Greek Golden Visa
Greece Increases Investment Amount for Golden Visa
Higher Investment: Greek Prime Minister Kyriakos Mitsotakis has proposed raising the minimum investment required for foreign property buyers to qualify for a Golden Visa, aiming to alleviate pressure on the housing market.
The potential increase would target areas with high rental demand. Mitsotakis hinted at a threshold increase, with potential amounts reaching €800K in cities and islands facing acute housing pressures.
Higher Investment issues
Previously, Greece doubled the investment threshold for popular destinations like where investors must spend at least €500K to access the Golden Visa program. In other regions, the threshold remains at €250K.
The surge in foreign interest, alongside Greece’s economic resurgence and attractive Golden Visa prices, has driven up residential property prices in Athens. The tourism boom has worsened the situation as landlords opt for short-term rentals through online renting platforms.
To aid locals, the government introduced a program offering low or interest-free loans to individuals under 39 years old to assist in purchasing their first property.
The proposed measure aims to strike a balance between attracting foreign investment and managing housing demand, particularly in areas under strain from tourism and rental pressures.
By adjusting the Golden Visa requirements, Greece seeks to address the housing crisis while maintaining the attractiveness of its investment programs.