Greek real estate experts have expressed concern about recent changes applied to the Golden Visa program.
According to a report in Schengen News, Dimitris Vinialis, president of the Greek Federation of Real Estate Brokers, said that the amendments applied to the system have led to distortions.
A series of changes led to a surge in permit applications, market distortions, and unintended consequences.
Dimitris Vinialis, President of the Greek Federation of Real Estate Brokers
Golden visa program didn’t contribute to housing crisis, experts say
Greece’s investment residency program, known as the Golden Visa Program, provides a path to residency rights for foreigners who make financial investments in the country.
However, as part of efforts to better manage the housing crisis, the Greek Republic has applied new changes to this program, including real estate investment options.
But real estate experts argue that the program never contributed to the housing shortage crisis.
The program did not create a housing shortage because the properties sold were rented rather than owned and often had interest rates 10-15 percent lower than similar properties in Athens or Thessaloniki. .
Dimitris Vinialis, President of the Greek Federation of Real Estate Brokers
Investments through real estate options reach 800,000 euros in some regions
Greek Prime Minister Kyriakos Mitsotakis announced new changes that will come into effect from September 1. These included increasing the minimum amount required for the scheme’s most popular property investment option.
The Greek Prime Minister announced that in some of the country’s most prestigious regions, the minimum requirement will reach 800,000 euros. This decision has been criticized by Binialis. He said governments often make decisions without consulting experts.
According to a report in Greece Travel Pages, Prerevitz and Kostas Georgakos, CEO and co-founder of Georgakos Real Estate, said the most prominent new investment destinations are Thessaloniki, Chalkidiki, Kalamaria, Pieria, He emphasized that it is the center of Kavala.
Between 30 and 40 million people can reach Northern Greece by car. Many businessmen from neighboring countries have established companies and are actively engaged in real estate development.
Kostas Georgakos, CEO and Co-Founder of Prelevits and Georgakos Real Estate
Residency in Greece through investment schemes makes a significant contribution to the country’s economy.
According to Imi Daily statistics, more than 1.2 billion euros were brought into Greece through the Golden Visa program in the first seven months of this year.
Last month, Prime Minister Kyriakos Mitsotakis revealed that the program would be expanded to include investments in startups.
