Greece Residency Program Attracting More Global Investors
All the more international investors are looking to Greece to invest and gain residence and citizenship rights, according to research released by real estate firm Astons.
Greece’s “Golden Visa” program, which grants five-year residency rights to third country nationals who purchase individually or through a legal entity property valued at a minimum of 250,000 euros, has been winning over an increasing number of investors.
According to Astons, areas in Greece with the largest choice of properties available for purchase for investor visa-seekers are Athens and the Cyclades islands.
Indicatively, Northern Athens currently has 22,581 properties for sale, 18,719 of which (83 percent) going for over the 250,000-euro minimum. Southern Athens follows with 39,713 properties meeting the minimum investment threshold; and the Cyclades with 5,281 homes for sale.
According to Astons, Greece is gaining ground fast as one of the most sought-after residency-by-investment hotspots in the world thanks to the minimum 250,000-euro requirement which makes it the most affordable location for EU residency.
“Greece offers amazing investment opportunities and equally amazing lifestyle potential which makes it extremely popular among investors who are looking to better the lives of their families as well as their business opportunities,” said Arthur Sarkisian, managing director Astons.
The report also refers to the ease of transactions with relocation taking just 60 days as well as to other advantages including full residency eligibility for the whole family, Schengen Zone access, and stunning landscapes, mild climate, and high standard of education.
Another key takeaway of the Astons study found that 43 percent of homes up for sale in Greece cost more than the 250,000-euro threshold.
Other areas in Greece where properties sell around the 250,000-euro level are on Zakynthos, the Argosaronikos islands, Lefkada, Kefalonia, Corfu, Chania and in Fokida, Central Greece.
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