Greece has raised the real estate investment thresholds for its Golden visa program, requiring higher financial commitments from applicants seeking residency through property purchases. The new thresholds, which range between EUR 400,000 and EUR 800,000, now apply to properties in sought-after locations such as Athens, Thessaloniki, Santorini, and Mykonos. Additionally, restrictions have been placed on the number of properties an individual investor can acquire in a given area to prevent market inflation and protect local buyers.
While these changes primarily impact new applicants, some investors may still qualify under the previous, lower thresholds. Those who made a 10% deposit or finalised a real estate contract before 31st August 2024, now have until 28th February 2025, to complete their purchase. If their initial transaction falls through, they may pursue a different property under the same lower thresholds, provided the purchase is finalised by 30th April 2025.
These adjustments reflect Greece’s ongoing efforts to regulate foreign investment in its real estate market while maintaining the appeal of the Golden visa program for high-net-worth individuals. Prospective investors should carefully review these new requirements and ensure their transactions align with the updated regulations.
Should you have any queries regarding the above information or if you require assistance with your corporate, employment or immigration matter, please get in touch with a legal professional at Hudson McKenzie via email at londoninfo@hudsonmckenzie.com or by telephone +44(0) 20 3318 5794.
The information provided does not amount to legal advice.
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