Considering residency in Greece through property investment? The Greek Golden Visa program offers an attractive option. However, there have been some recent changes to the investment requirements that you should be aware of and we, at Nest Land, wanted to keep you informed. Learn more about the updates by reading on.
Key Changes
- Increased Investment Threshold in Prime Locations: Starting September 1st, 2024, the minimum investment requirement for Attica, Thessaloniki, Mykonos, Santorini, and islands with over 3.100 residents has been increased from €500.000 to €800.000. This increase reflects the high demand and value of properties in these areas.
- Investment Criteria for Other Regions: On the other hand, if you’re considering investing in properties outside the prime locations, the minimum investment is now €400.000 (from €250.000). This gives you flexibility in choosing properties across different regions of the country while still qualifying for the Golden Visa.
- Single Property Investment: The program now requires investing in a single property with a minimum size of 120 square meters, and not in multiple, lower-value properties. This ensures a significant investment in the Greek real estate market.
- Rental Permission: You’re allowed to rent out the properties you acquire under the Golden Visa Program, providing an opportunity to generate additional income from your investment.
- Short-term Rentals: Properties purchased under the Golden Visa program cannot be used for short-term rental purposes. This rule is meant to maintain the main goal of the program: helping individuals to establish long-term residency through real estate investment.
The recent updates on the Golden Visa Program in Greece offer investors new opportunities for real estate investments. By understanding these updates, you can make informed decisions to secure your residency in Greece and enjoy the advantages it has to offer. Read our article on the benefits of the Greek Golden Visa program here: “Unlock European Residency with the Greek Golden Visa”.
For further information on the updates or assistance with your investment journey, we encourage you to reach out to Nest Land. Our professional team provides comprehensive support and guidance to investors seeking to capitalize on the opportunities offered by the Golden Visa program. Contact us today at info@nest-land.com to learn more and achieve your investment goals in Greece.
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