Program “Golden Visa”(Golden Visa) has become a real “gold mine” for the Greek real estate market and, as a result, for the Greek economy.
From September 1, 2024, changes to the Golden Visa program came into force in Greece, which means increasing investment limits for obtaining residence permits for third-country citizens.
Reportedly, on Evia, Mykonos, Santorini and other islands with a population of over 3,100 peoplevalid new increased threshold of 800,000 euros to obtain a residence permit under the Golden Visa program.
IN rest of the country the minimum limit has also been increased to 400,000 euros (from the previous 250,000 euros).
According to official data for the 12 months from August 2023 to August 2024, 8,898 Golden Visa applications were submitted, of which to date only 1,446 permits have been approved.
According to real estate market experts, if not for long delays in the approval process for existing permit requests, these numbers would be higher. The figure is expected to increase significantly in the coming months.
Apart from the leading Golden Visa in Greece – Chinese nationals and a significant increase in the number of investors from Turkey and Lebanon – there has been a noticeable increase in the number of Britons and Americans who are seeking a Golden Visa by purchasing holiday homes (rather than primary residences). Data shows that investors from The UK is in fifth place, and Iran is in fourth place.
Recently, the British have turned their attention to “Golden visa“so that obtain the right of free movement within the European Union. The increase in residence permits issued under the relevant program compared to August last year reaches 51%. A year earlier, 318 applications were approved, accounting for 2.9% of the total number of requests.
American investors rank seventh in the corresponding list, and investors from Israel, who now have 271 “Golden visa” – on the eighth. Israelis are using this program to seek security abroad due to the military situation in the wider Middle East region.
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