This February, during parliamentary hearings, Greek Prime Minister Kyriakos Mitsotakis proposed raising the minimum investment for a Greece Golden Visa to € 800,000. The politician cites the lack of affordable housing for the population as the reason. Despite the radical nature of this proposal, Prime Minister Mitsotakis would not like to set such a high cost of real estate for golden visa applicants in all municipalities. But only in big cities and on islands. At the same time, he emphasized that in regions without a housing shortage the threshold will remain at €250,000. Despise of the Prime Minister’s words, Greece golden visa is now an instrument for renovation of cities important infrastructure such as affordable housing for students in Piraeus. Thus, there is more affordable housing, thanks to applicants for this program.
The Greece Golden Visa will allow the investor to reside temporarily or permanently in Greece and travel around the Schengen countries without issuing a visa (90 days every six months).
Thus, the Greece Permanent Residency Program gives the investor and his family members visa-free access to Italy, France, Germany, Switzerland, in total 27 countries of the European Union.
How has the program Greek Golden Visa changed in 2023?
Let us remind you that the conditions for participation in the Greek Golden Visa program have already changed in 2023. Then the minimum investment in real estate in 36 popular municipalities of Greece (including Attica, Mykonos, Santorini and Thessaloniki) increased from €250,000 to €500,000. Despite this, by the end of 2023, the demand for the Greek Golden Visa increased by 65%. It is important to note here that the cost of participation in the program is quite low compared to other similar offers in Europe.
Compare with other programs in Europe
For example, to apply for a Golden Visa in Spain, you need to purchase real estate for at least €500,000. And Portugal has completely removed real estate from the list of options for a Golden Visa. Italy has never given and does not give foreigners a residence permit for the purchase of real estate, regardless of its value. And in Hungary’s new program, Guest Investor Program (GIP), you will need to invest €500,000 or more in real estate.
Apex Capital Partners has accumulated significant expertise in the Greek real estate market, as well as in obtaining the Golden Visa. Together with APEX, you can choose a project from a reliable developer, receive a residence permit, as well as regular income from the purchase.
Reconstruction of a building in Piraeus, city center. Suburbs of Athens
The seven-story building will be reconstructed to become profitable real estate under the management of an international company (German Holding). The location is within walking distance from the main shopping street, the university and the metro station connecting the port of Piraeus with Athens airport. In total, the project will have 37 fully furnished and equipped one-room apartments (units), as well as a shared laundry room and a gym. Apartments with an area of 20 to 29 square meters with modern renovation are the so-called service apartments, which will be rented out for short-term and long-term rent. The project is scheduled for completion in the fourth quarter of 2024.
For example, a unit on the third floor with an area of 22.68 sq.m. Price – €139,000, potential return – 5.21% per annum. Unit on the second floor 30.92 sq.m. Price – €172,000, potential return – 5.29%.
The minimum cost to participate in the Greeсe Golden Visa program for real estate in this location is €250,000.
Ready to move in new project in Penteli municipality, suburb in the north of Athens
The project is located in the suburb of Melissia, in one of the most prestigious areas of northern Athens. These luxury apartments are designed with open areas and huge balconies with stunning view’s panoramic view of the surrounding area. There are 3-bedroom apartments on the third floor with a total area of 180 sq.m. terrace 110 sq.m. and storage room 15.8 sq.m. Price – €590,000 (one parking space included).
The minimum cost to participate in the Greeсe Golden Visa program for real estate in this location is €500,000.
Modern apartments in Attica, Kryoneri (Kryoneri)
The project has only two buildings located on different levels of the same slope. The location is surrounded by pine forests – there is a pleasant freshness even during the hottest season. And special high-tech thermal facades minimize energy loss. The apartments on the first level of the buildings have revised access to the garden and private swimming pools. Parking for residents. Close to project is the Tatoi Palace – the former residence of the Greek royal family. Construction is planned to be completed in 2025 year. For example, an apartment on the ground floor with three bedrooms, two bathrooms. Common covered area area 123 sq.m., open area – 41 sq.m. Price – €544,150.
The minimum cost to participate in the Greeсe Golden Visa program for real estate in this location is €250,000.
