Why is Greece Now The Most Popular Golden Visa Program?

Investors worldwide seek residency in foreign countries for various reasons. Some aim to streamline their interactions with foreign banks, while others desire greater mobility. The concept of “Golden Visas” has emerged as a means to fulfill these aspirations. Among the European Union countries, Spain, Portugal and Malta offer the most popular and favorable Golden Visa programs.

In terms of the number of visas issued, Greece’s Golden Visa program has historically lagged behind its counterparts. The country’s economic crisis over the past decade has eroded investor trust, resulting in a decline in investments made in Greece. However, recent indicators suggest that the Greek economy is on a path to recovery. 

The new Greek government is particularly enthusiastic about attracting foreign investment, demonstrated by recent political amendments that include tax cuts on real estate investments. This strategy has successfully enticed high net worth individuals from around the globe, leading to a resurgence in investor trust and revitalizing the Greece Golden Visa Program.

The Lowest Golden Visa Investment Threshold in Europe

One of the standout qualities of the Greece Golden Visa, in addition to providing EU residency, is its impressively low investment threshold. Greece allows applicants to purchase one or more properties with a minimum total value of €250,000, making it the most affordable option for those seeking a residence-for-investment opportunity.

This is particularly noteworthy when compared to Latvia, which also offers a similar deal but requires a 5% non-refundable fee amounting to 12,500 euros. By opting for Greek residency through real estate investment, individuals can enjoy the benefits of a considerably more cost-effective and logically sound choice.

Opportunity to Participate in Large Projects

While some countries only allow the purchase of one property to meet the threshold, Greece stands out by allowing several purchases under its Golden Visa Program. This program goes beyond property investments and also allows for collective investments. 

This flexibility makes it an attractive option for investors, as it enables them to get involved in multiple projects with the potential for positive outcomes. With its accommodating approach, the Greece Golden Visa Program offers a unique opportunity for investors to diversify their portfolio and explore various avenues for growth.

Competitive Prices, High Growth Potential and Returns

The price of real estate in Greece is incredibly attractive, being two times cheaper than Malta and Spain, and 1.5 times cheaper than Portugal. With average prices of just €1,300 per square meter, central Greek houses not only provide affordable options but also boast great potential for price growth in the future. It’s worth noting that due to the 2008 economic crisis, real estate in Greece is currently 44% cheaper compared to its peak, presenting a unique opportunity for investors. 

Moreover, with the signs of economic recovery becoming more apparent, real estate prices in Greece are steadily on the rise. This positive momentum makes it all the more logical for investors from around the globe to seize the moment and capitalize on the promising prospects that the Greek real estate market has to offer.

Boost your Returns with Rental Income

Since Golden Visa owners do not need the purchased real estate for personal use, it is a logical investment strategy to buy the property and then lease it out to generate rental income. Furthermore, it is even more advantageous to consider purchasing properties in highly sought-after touristic areas.

By renting them out on a short-term basis, one can potentially maximize their income and capitalize on the high demand from tourists. This approach allows for a profitable and strategic investment in the real estate market.

Greece Visa Homes is your trusted investment advisory firm for Greece Golden Visa. Get personalized guidance from our experienced legal professionals, ensuring a seamless process for real estate and investment funds.

Contact us for inquiries and assistance. We’re here to support you every step of the way!

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