Greek Golden Visa: new rules and perspectives

Golden Visa program in Greece: key points and changes in the real estate market.

Greece, known for its rich history, culture and picturesque landscapes, has always attracted investors from all over the world. Recently, however, the Golden Visa program, which grants residency through real estate investments, has undergone significant changes. These innovations have had a significant impact on the country's real estate market and the conditions for obtaining a residence permit for foreign investors.

Raising the investment threshold

The most significant change was the increase of the minimum investment threshold to 800,000 euros for real estate properties in all regions of Attica, including Athens. This decision was taken by the Greek government in order to regulate the flow of foreign investment and stabilize property prices in the most popular areas. The previous investment threshold of 250,000 euros is no longer valid. This change caused mixed reactions among potential investors and real estate market participants. On the one hand, an increase in the investment amount may weed out less wealthy buyers, while on the other hand it may attract more serious investors willing to invest heavily in the Greek economy.

Redistribution of investor interest

Experts note that an increase in the minimum investment amount may lead to a redistribution of investor interest between different regions of Greece. It is expected that this may contribute to the development of less popular but promising areas of the country, such as the islands of Crete, Rhodes and Corfu, as well as resort towns on the mainland.

Impact on price dynamics

The new rules of the program “Golden Visa” may also affect the dynamics of real estate prices in Greece. Analysts predict a possible increase in the cost of objects in regions where the minimum investment threshold has remained at the same level, as investor interest may shift to these areas. However, in Athens and other popular areas of Attica is expected to reduce demand for expensive objects.

Protecting the interests of the local population

Greek authorities emphasize that the changes in the program are aimed at ensuring sustainable development of the real estate market and protecting the interests of the local population. The new regulations are designed to prevent excessive growth of housing prices in major urban centers and make it more affordable for Greeks.

Criticism and concerns

Some critics fear that the new rules may reduce Greece's attractiveness to foreign investors compared to other countries offering similar residency through investment programs. Competition in the “golden visa” market is constantly growing, and Greece may lose some potential investors who opt for more favorable conditions in other states.

The importance of striking a balance

Overall, the new regulations of the Golden Visa program in Greece mark an important stage in the development of the country's investment policy. They reflect the Greek government's desire to strike a balance between attracting foreign investment and protecting national interests, as well as ensuring the sustainable development of the real estate market.

Long-term prospects

Time will tell how effective these changes will be and how they will affect the long-term development of the Greek real estate market and the economy as a whole. Much will depend on the reaction of investors, the dynamics of supply and demand, as well as the general economic situation in the country and the region.

Adaptation of market participants

Real estate market players such as agencies, developers and law firms will have to adapt to the new rules and change their strategies to attract clients. Perhaps more emphasis will be placed on high-budget projects and exclusive properties aimed at wealthy investors.

Alternative investment opportunities

In addition, Greek authorities may consider expanding the Golden Visa program to include alternative investment options, such as investing in businesses or government bonds. This would diversify the flow of foreign capital and make the program more attractive to different categories of investors.

Conclusion

Greece's Golden Visa program is undergoing a period of significant changes that will undoubtedly affect the future of the country's real estate market. Although the new rules have generated mixed reactions, they reflect the Greek authorities' desire to ensure sustainable development and protect the interests of citizens. Time will tell how successful these measures will be and how they will affect the attraction of foreign investment in Greece in the long term.