As previously reported back in September 2022, Greece will be doubling the cost of their popular Golden Visa Residency programme this year. The price increase will only apply in certain regions of Greece in a bid to spread foreign investment more equally across the country. 36 municipalities in total will see a price increase and this includes the Attica region of Athens, Mykonos, Santorini and Thessaloniki, amongst a few others.

The transition period for the price rise in the regions affected will begin in May 2023. Applicants must have already begun the property purchase process and paid at least a 10% reservation deposit by the end of April 2023 at the very latest, to buy at the lower rate of €250,000. Following this date, investors will have up until December 2023 to fully complete the property purchase and Golden visa process.

From 1st May 2023, investors purchasing in the mentioned municipalities will have to make a higher investment of €500,000 plus, to qualify for the Greece Golden Visa programme. The minimum value of €250,000 will be maintained for the rest of the country.

In La Vida’s experience, most of the investors that we have assisted to obtain a Golden Visa in Greece have chosen to purchase real estate in Athens due to the higher rental yields, capital appreciation prospect and international flight connections that the city offers. Due to a recent influx of investors trying to secure property in this region ahead of the price increase, available stock at €250,000 is now limited. If this is your desired location to invest, and you wish to invest at the lower limit of €250,000, we advise acting immediately in order to beat the April deadline.

Contact our advisors today, for more information.

Tags: 2023, europe, golden visa 2023, greece, residency visa

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