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Greece Golden Visa Update: Higher Investment for Residence

Greece is enhancing its Golden Visa program, adjusting investment thresholds to address the national housing shortage. The Ministry of Finance announced these changes, aiming to balance the need for housing with the desire to attract foreign investment.

The real estate transaction process in Greece is becoming more efficient, thanks to digital initiatives from the Ministry of Digital Governance and recent tax administration reforms. These include the elimination of certain certificates for real estate purchases, streamlining the process for buyers and reducing bureaucracy in property transfers.

The updated Golden Visa rules set higher investment minimums for obtaining a residence permit. In sought-after locations like Attica, Thessaloniki, and popular islands, the investment minimum is now 800,000 euros, while in less populous areas, it remains at 400,000 euros. The program also sets specific requirements for the minimum size and types of properties eligible for investment.

To encourage the renovation of existing buildings and the preservation of historic properties, the government has introduced incentives and set a fixed investment amount for these categories. Additionally, the new regulations explicitly ban the use of Golden Visa properties for short-term rentals, aiming to protect the residential market.

Finance Minister Kostis Hatzidakis emphasized that the revised Golden Visa measures are part of a broader housing strategy. This strategy seeks to provide affordable, quality housing in partnership with the private sector while continuing to welcome investments under more equitable conditions.

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