Most of the objects are sold at double price. Who is buying up real estate in Greece and why?
A third of the real estate on the Greek market to foreigners. Their main motivation is to get a «golden visa». This is what the local newspaper Ekathimerini wrote in its report.
Most often, to get a golden visa through the property seek investors from China, Turkey, Lebanon, Egypt. At the same time, in order to meet the minimum investment threshold of 250,000 euros, most buyers purchase properties at double or even triple the price.
And after the recent announcement of the Greek prime minister, the demand for the Greek program «Golden Visa» increased even more — by 290%. The fact that Prime Minister Kyriakos Mitsotakis announced an increase in the minimum amount of investment for this visa — soon it will be not 250,000 euros, but 500,000. Thus, the authorities want to make real estate more accessible to the Greeks. However, how this will actually affect the market is still unclear.
It is worth noting that not only the Greek program «Golden Visa» is in demand: other popular destinations offering residence permits for investment — , , , and .