◎Author |
◎Source | Western Reference (iwestworld) has been authorized
Ten years ago, if you told your friends that you wanted to immigrate to Greece, it might be difficult for many people to understand. When home buying and immigration are combined into policy, it is no surprise that Greece has become a hot new destination for immigrants. Greece’s unique mix of natural beauty, history and culture has made the country a major global home buying destination in recent years.
Between 2014 and 2021, a total of 9,610 main applicants were granted golden visas in Greece. As of 2022, a total of 28,767 Greek Golden Visas have been issued to the main applicant and their dependents. These applications have attracted more than 2.6 billion euros of global funding to Greece.
Among them, the country with the largest number of applicants is China, with 6,405 applicants. Followed by Turkey and Russia.
On September 16, according to a report from SchengenVisaInfo, Greek Prime Minister Kyriakos Mitsotakis made new changes to the country’s golden visa program. Among them, the regulations regarding the increase of the threshold price for the purchase of a house from 250,000 euros to 500,000 euros in the application of the “Golden Visa” have not announced any geographical changes or restrictions on the purchase of real estate, and the regulations will take effect on January 1, 2023.
The increase in prices is due to the fact that with the general increase in real estate prices in Greece, the price of real estate options for middle-income people has exceeded 250,000 euros. As a result, the investment threshold has been raised, and investors should aim at higher-level real estate and construction. At the same time, it is emphasized that the legitimate rights and interests of all investors who have purchased and are waiting for processing of the golden visa before the effective date of the golden visa will be protected.
Although affected by the epidemic, the global economy fluctuated, but it still did not hinder investors’ enthusiasm for Greek real estate. According to a recent report provided by real estate brokerage Tranio, between January and June this year, enquiries for Greek golden visas increased by 127% compared to the same period last year.
Whether you’re looking for investment opportunities, a vacation, or a permanent home, Greece may be the answer. Investments from overseas buyers have surged in recent years, enabling many to realize their dreams of owning a summer home in Greece. Although the Golden Visa process is very simple, there are some important things to consider when choosing a property that is eligible for a Golden Visa.
If you are looking to buy a house in Greece, whether in Athens or on the islands, most of the houses you see will be very old. Even if some of these homes are in the process of being renovated, you should ask about the progress of the renovation. In some cases, renovations may only be of a cosmetic nature, and one should also check that the home infrastructure has been properly handled. Make sure to get clear answers to these questions as it can end up costing a lot of money after buying a property. If refurbishment is required, you will also need to find a reliable contractor. If the purchased house needs to be renovated, this fee will not count towards the investment threshold for the Golden Visa. This means that extra funds need to be set aside to renovate the home, which is something to keep in mind.
One of the properties purchased may be inherited and have many owners. Before buying, try to find out who the home owner is. Confusion may delay the progress of the title certificate and affect the golden visa application. Some houses in Greece, especially on the islands, may not be officially registered in the title deed. This is rare, but it can happen.
Wherever it is, the location of the property always matters. When investing in real estate abroad, you should pay more attention to the location of your home, especially if you plan to rent it out after purchase. When picking a property, try to choose a location that is in high demand from investors and tenants. On the other hand, when it comes to buying commercial real estate and using it as a source of income, it is more beneficial to have a long-term contract with a corporate tenant. Otherwise, every time a tenant moves out, it will result in a loss in rent.
Lifestyle is another point that should be considered when choosing a property in Greece. If you are interested in a house on an island in Greece and plan to live on your own, be sure to consider the local infrastructure and healthcare. While larger islands have airports, smaller islands rely on ferries as their main source of transportation. If you think you prefer city life, then choosing a property in Athens may be a better option, offering many options for both residential and commercial use. In Greece, you’re not just buying a house, you’re buying a freehold title for generations.
The investment threshold of the old Greek golden visa policy is 250,000 euros, which is equivalent to about 1.74 million yuan at the current exchange rate. The new policy raised the price to 500,000 euros, which is equivalent to about 3.48 million yuan, which is equivalent to double the cost. Now that the exchange rate of the euro is declining, and European immigrants have entered the “discount season”, applying for an identity now means earning money. Considering that it will take some time to go through the process of submitting the application, the time left for everyone to consider is also very limited.
It is recommended that those who have already booked the property should complete the transfer and at least submit the immigration application of the main applicant before the end of this year; those who have not made a reservation or have not completed the payment, hurry up to book and complete the payment for the purchase of the house; currently the POA of the domestic Greek consulate has a long queue, and you can try to pass the POA The Hague certification completes the transfer and shortens the transfer cycle; those who have completed the transfer of the real estate and have not yet submitted the immigration application prepare the relevant documents to submit the immigration application as soon as possible, and lock the old policy.
In the early stage of buying a house in Greece, you need to choose a house, pay a deposit, and lock the house. In the process of these few steps, if you hesitate, the house you like may be chosen by others. The house you think is good will also be considered good by others, and the good house must be more popular. Submit it as soon as possible after choosing a room, and it is safest to get the blue paper.
Considered one of the most affordable investment immigration programs, the Greek Golden Visa program provides applicants with access to the European Schengen Area from the moment they submit their residency application. Among them, the 250,000-euro home purchase immigration program can be called the most cost-effective “green card” program in Europe. It realizes one-person investment and three-generation immigration. Permanent residents can also apply for naturalization if they meet certain residency requirements.
– Application conditions-
- The main applicant must be at least 18 years old, and the spouse, children and parents under the age of 21 can accompany the application;
- Buy a property in Greece for more than 250,000 euros (up to 500,000 euros next year!) ;
- No language, business experience and capital source requirements;
- No criminal records.
– Project Benefits-
- High cost performance: one person invests, three generations immigrate, and there is no requirement for accompanying parents;
- Low investment amount: only 250,000 euros to buy a house and enjoy freehold property rights;
- No residency requirements: There are no residency requirements after obtaining permanent residency, which will not affect the pace of domestic life and work at all;
- The application requirements are simple: no language qualifications, work and business background requirements, and any type of real estate can be purchased;
- Shortcut to education: children enjoy free public education in Greece, and can return to China as “overseas Chinese students” to easily enter Qingbei;
- Convenient travel: free access to 26 Schengen countries, and passport-free visa-free access to 185 countries/regions;
- Low housing prices: The market value has dropped by nearly 50% compared with that before the economic crisis. The economy is picking up, and there is a lot of room for housing prices to rebound.
For investors who intend to immigrate to Greece, please seize the last chance before the price increase, immigration is always sooner rather than later. Investing in real estate starting from 250,000 euros will not only allow the whole family to apply for permanent residence visas in Greece for three generations, travel to 26 Schengen countries, but also enjoy social welfare benefits such as education and medical care in Greece. The second home can be described as serving multiple purposes with one fell swoop.
Until the new regulations come into effect, all investors who submit applications for residence permits will still be subject to the old prescribed limit, which is 250,000 euros for the purchase of a property to obtain a golden visa. Stimulated by such a time-limited price difference, the number of investors and applicants surged during the window period.
Compared with the price increase, these changes actually have a greater impact on many immigrants. Friends who are interested, you should hurry up!
If you want to see Greek real estate in advance, we have prepared some listing information, welcome to scan the code to get it.
For personal collection only, the copyright belongs to the original author
The price of the Greek golden visa will increase next year. Is it still time to get on the bus now? appeared first on Haowen Collection .
This article is reproduced from: https://shoucang.zyzhang.com/%E5%B8%8C%E8%85%8A%E9%BB%84%E9%87%91%E7%AD%BE%E8%AF%81% E6%98%8E%E5%B9%B4%E6%B6%A8%E4%BB%B7%EF%BC%8C%E7%8E%B0%E5%9C%A8%E8%BF%98%E6% 9D%A5%E5%BE%97%E6%80%A5%E4%B8%8A%E8%BD%A6%E5%90%97%EF%BC%9F/
This site is for inclusion only, and the copyright belongs to the original author.