Navigating Changes in Greece’s Golden Visa Investment Increase

26/02/2024

The Greece Golden Visa program, offering residency for investments, is about to undergo significant changes. The investment threshold is expected to rise, a response to the program’s growing popularity and the government’s strategy to encourage sustainable foreign investments.

Government Response to Growing Demand

Kostis Hatzidakis, the Greek Minister of National Economy and Finance, outlines the plan to raise the investment threshold. This approach aims to moderate the increasing demand for the Golden Visa and stabilize the rising real estate prices, ensuring the market remains accessible and attractive to foreign investors.

Impact of Recent Investment Threshold Adjustments

In the previous year, the investment requirement in prime areas in Athens, Thessaloniki and the most popular resorts such as Mykonos and Santorini was increased from €250,000 to €500,000, prompting a surge in applications from international investors. In contrast, regions such as Crete and Rhodes maintained the lower threshold of €250,000, offering varied investment opportunities across Greece.

Expert Analysis on Future Trends

Investment migration expert Yiannos Trisokkas discusses the rapid pace of these changes and their significance. The expected adjustments could see the minimum investment requirement reaching up to €1,000,000 in the most sought-after locations, potentially sparking a new wave of investor interest.

Incentives for Urban Renewal Projects

The government considers special incentives for those investing in urban renewal, particularly focusing on the renovation of historic buildings. This initiative aims to direct investments towards improving Greece’s urban landscapes while maintaining lower investment thresholds for these specific projects.

The Importance of Timely Decisions

With significant changes imminent, Yiannos Trisokkas advises potential investors to act swiftly. The availability of desirable properties at competitive prices is dwindling, highlighting the urgency for those considering the Golden Visa to proceed with their investment decisions promptly.

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