From September 1st, 2024, the Greek Golden Visa program (aka Greece Golden Visa) accepts applications from investors under new conditions. In fact, the changes affect only the option to purchase real estate. The amount increased to €800,000 in such popular locations as Attica (Athens), Thessaloniki, Mykonos, Santorini, sparsely populated islands where more than 3,100 people live. And in all other locations up to €400,000. In any case, investments must now be made in one property (not several properties of lesser value) with an area of at least 120 sq. meters.
However, this will not prevent candidates for a Greek residence permit who want to purchase a premium second home by the sea. Since the cost of such real estate corresponds to the new investment requirements. APEX will help to choose options that will qualify investor’s wishes and meet the rules for obtaining Greece Golden Visa.
Greece Golden Visa for the purchase of real estate from €250,000
It is known that there are two exceptions in the Law, for which the investment threshold of €250,000 remains, regardless of location. The first option is the reconstruction and restoration of officially recognized architectural monuments. The option is very difficult to implement within a minimum budget. Moreover, to qualify for the program, such properties must be completely restored or reconstructed at the expense of the Greece Golden Visa applicant.
The second option for €250,000 offers investment in non-residential properties that are being converted into residential buildings. A transfer from one category to another must be made before submitting an application for a Greece Golden Visa. Note that it is prohibited to use such property as a company office. Developers in Greece knew about this in advance, which is why there are projects on the market, albeit in limited quantities, for the lowest investment threshold.
Here are some examples of such real estate projects converted from commercial to residential. Additional information can be requested from APEX.
