Greece expected to set different minimum thresholds for the golden visa programme depending on locations

The new changes are expected to be finalised within a week and will take several months to implement, as was the case last year.

The government plans to set three levels of minimum investment amounts for the golden visa programme, depending on the location of the property purchased.

Under the new rules:

1. 800 thousand euros will be the minimum amount for investments in central, northern and southern Attica, as well as on the islands of Mykonos and Santorini.
2. An amount between 400 and 500 thousand euros will be used in regions where the current threshold is 250 thousand euros and strong demand by foreign nationals is observed. Examples of such areas are Piraeus, the northern, eastern and western suburbs of Athens.
3. The amount of 250 thousand euros will be set for the rest of the country, where investors rarely buy property for residence permit.

However, the question remains open regarding tourist-popular areas in the periphery, such as Corfu, Heraklion, Chania, Rhodes and Patra, with a shortage of residential property and a lack of «golden visas».

Source: Ekathimerini

Author: Julia Naymushina