How the Greece Golden Visa Price Increase Impacts Investors: What You Need to Know
In 2023, Greece raised the minimum investment threshold for its Golden Visa program from €250,000 to €500,000 in many areas, significantly altering the landscape for prospective investors. Here’s what you need to know about how these changes impact you:
1. Higher Entry Costs
The most obvious change is the doubled investment requirement in popular regions such as Athens, Thessaloniki, and Mykonos. Investors must now commit at least €500,000 in real estate purchases, up from the previous €250,000.
2. The Program Remains Competitive
Despite the price increase, Greece’s Golden Visa remains attractive when compared to other EU programs. Spain and Portugal’s minimum thresholds are still higher, making Greece a viable option for investors seeking EU residency.
3. Flexibility in Less Populated Areas
In areas outside the major cities and tourist regions, the €250,000 threshold still applies. For those willing to explore less popular areas, the lower entry point can still provide a path to Greek residency.
4. Real Estate Market Impact
The price hike is expected to fuel further growth in Greece’s real estate market. As demand rises, property values in high-demand areas will likely continue to appreciate, benefiting those who invest early.
5. Alternatives for Investors
Investors not keen on the €500,000 threshold can explore other options like Portugal’s Golden Visa, which remains one of the most flexible programs in Europe. However, Greece’s Golden Visa still offers fast processing and visa-free access to the Schengen Area.
For those eyeing residency in the EU, Greece’s Golden Visa is still a solid investment, but acting sooner rather than later is crucial as property values continue to rise.
