Greece: Inside one of Europe’s last golden visa programmes and what’s set to change [θα αυξηθεί το όριο σε περιοχές που έχουν έλλειμμα κατοικιών]

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1. >Greece is one of the last remaining countries in Europe to offer golden visas.
   Concerns over security and inflation have led many EU nations to abolish golden visas in recent years.
   Initially, a real estate investment of €250,000 or more could gain you a five-year residence permit in Greece, which could be converted into citizenship after seven years.
   But last year, concerns over inflated house prices led the government to increase the threshold to €500,000 in some parts of Athens, Mykonos, Santorini and Thessaloniki.
   Now, that could rise yet further to €800,000, according to Prime Minister Kyriakos Mitsotakis.
   Although Greece’s golden visa can also be acquired through a €400,000 investment in government or private bonds and shares, purchasing a property is the most popular route to residency by investment.
   In parts of the country where housing is not under pressure, the threshold could remain at €250,000.
   Rents have increased by 40 per cent since 2018 and around 7 per cent of real estate sales in Greece in recent years was related to the golden visa.
   The programme brings significant revenue to the Greek state – €4.3 billion between 2021 and 2023.
   The moment when the government announced the possible increase in the investment limit in 2023, the demand of real estate investors to buy real estate aiming for the golden visa tripled,