The Greek government will increase the minimum amount foreign property buyers must pay to obtain a “golden visa” due to pressure on the home buying and rental market. The agency reports Reuters Referring to the country’s Ministry of Finance.
“Golden visas” are residence permits or passports that can be obtained for the purpose of investing in a country’s economy.
Foreigners will now need to invest at least 800,000 euros in popular areas such as the capital Athens, Mykonos, the second largest city of Thessaloniki, and Santorini, as well as other islands with a population of more than 3,100.
In August, Greece doubled the amount required to access the program in popular regions to 500,000 euros, the agency said.
The new changes will come into force from March 31 and will aim to increase the supply of long-term rental housing and eliminate the impact of the “golden visa” on the cost of flats and houses.
in february reportedHe said golden visas were revitalizing Dubai’s commercial real estate market.
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