Greece has one of the most attractive programs for overseas investors to acquire property in the country. It is the second cheapest in the European Union and the fifth cheapest compared to any other country in the world. The Golden Visa scheme of Greece allows you to obtain a 5-year Residence Permit.
To obtain a Residence Permit for themselves and their families, foreign investors have to purchase real estate worth at least €250,000. Going by the current local market trends, foreign investors can buy decent assets with that amount of money. Plus, you will also need to consider the gains you get from resale with property prices on the rise in Greece.
As per the current market trends, you can, for €250,000, buy a 178 sq. m. property. You may not be able to purchase something this big in other countries. For example, in Hungary, €200,000 can get you 122 sq. m. property. In the case of Malta, you can only purchase a 98 sq. m. property for €270,000.
Due to the low property rates, a wave of foreign investors has entered the Greek market. Greece has issued 3,892 Golden Visas till the end of 2018 with 1,400 being issued in 2018 itself.
From January to 4th June 2019, 645 Golden Visas have been issued by Greece to non-EU investors. At this rate, Greece should issue around 1,550 Residence Permits by the end of this year. This would be a 10% increase over the number of Golden Visas issued last year.
In total, Greece has issued 4,537 Golden Visas since the program was founded, as per The Hindu.
China leads the nations with the most number of Golden Visas at 2,757. Russia and Turkmenistan also have a significant number of Golden Visas. Iran and Iraq also have many investors who have a Golden Visa of Greece.
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If you are looking to Study, Work, Visit, Invest or Migrate Overseas, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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