Greek Golden Visa to have 3 price zones for real estate

  • 28 February, 24

Greek authorities have announced an increase in the minimum investment requirement for the Golden Visa Program, with prices varying across different zones.

As part of efforts to better manage the housing crisis, authorities in Greece recently announced that the minimum investment requirement for the Golden Visa Program would increase, reaching €800,000 in some cases.

Prime Minister Kyriakos Mitsotakis confirmed the increasing minimum investment required for Golden Visa investments, aimed at addressing the housing crisis, with the adjustments aimed at managing investment flows into Greece more effectively.

According to multiple sources, the new minimum investment requirement will have the following three levels:

  • Zone A: €800,000
  • Zone B: €400,000 – 500,000
  • Zone C: €250,000

Zone A is expected to include central, southern, and northern parts of Attica, as well as the capital region and central Thessaloniki and the islands of Mykonos and Santorini, according to an IMI report. The same notes that Zone A could potentially include Crete, the Cyclades, and the Dodecanese islands.

At the same time, Zone B will be reserved for territories where the €250,000 minimum requirement applies but which have experienced price pressure since last year’s price increase. This zone is likely to include Piraeus, Athens’ western suburbs and northern and eastern suburbs like Gerakas, Ekali and Markopoulo, among others.

Zone C will be kept for municipalities where wealthy internationals have low interest in buying properties.

Earlier this month, Greece’s PM noted that the minimum investment for third-country nationals to acquire Golden Visas could surge to €800,000 for real estate investments in some parts of the country.

Announcing the increase, Mitsotakis stressed that the €250,000 threshold will remain for areas with no residential pressure.

Cre: IMI

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