The golden visa scheme is a residency-by-investment program adopted by various European states. It requires non-residents to invest a minimum amount into real estate to qualify. The Greece golden visa is set to change later this year, so get it while you can.ย
Greece has one of the lowest thresholds for the golden visa requirements. To benefit from the visa, you must spend a minimum of โฌ250,000ย on Greek property in certain areas. In some highly sought after areas, such as Mykonos, Athens, Santorini and Thessaloniki, the minimum spend requirement for a golden visa is โฌ500,000.
However, the Greece golden visa is set to change byย 31stย August 2024. Then, the minimum purchase will be brought up from โฌ500,000 to โฌ800,000 in the Attica region (including Athens), Thessaloniki, Santorini, Mykonos and Greek islands with over 3,100 inhabitants. Meanwhile, in the rest of Greece, the minimum spend requirement will go up from โฌ250,000 toย โฌ400,000. There will be exceptions for buildings that are listed for restoration or are being turned into a commercial dwelling. This will still be less than the Spanish golden visa, which has a minimum spend of โฌ500,000.
If you were hoping to get a golden visa on a โฌ250,000 property, then you have until 31stย August to pay 10% on a home. You must complete on the property by the end of 2024.ย
Ready to kickstart your Greece property plans? In this article, weโll take a look at four areas and islands where youโre likely to find properties that fit the current Greek golden visa requirements.
In euros, the average property price per square metre is โฌ2,408 in Greece and an average-sized home sells for โฌ481,600. The average Greek apartment starts at โฌ180,600.
Aegean Islands
The most luxurious homes in Greece can be found on the Aegean Islands, where the average house price reflects their quality coming in at โฌ601,000. But hey, if youโre seeking a Mamma Mia-esque lifestyle, surrounded by the azure blue waters of the Aegean Sea, thatโs the price to pay.
The Aegean Islands is a group of islands to the east of mainland Greece. There is a wide range of properties available in the Aegean Isles, from charming villas to seaside apartments.
Locations popular with international buyers in the North Aegean include Samos, Chios and Lesbos. Each is a Mediterranean paradise with diverse landscapes, peaceful villages and tranquil lifestyles.
The South Aegean is home to the Cyclades and the Dodecanese Islands. The Cyclades is a cluster of islands with white sandy beaches, friendly mountain villages and luscious landscapes. The Dodecanese Islands is home to Rhodes and Kos, which offer a Mediterranean climate and small-island appeal. Youโre never far from the beach here.
Homes in the South Aegean islands tend to be on the pricier side, but thatโs not to say you canโt find a chic apartment with sea views for an affordable price. To qualify for a golden visa in Mykonos and Santorini, you will need to buy a home worth โฌ500,000.
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Central Greece
According to MyDolceCasa, the most affordable homes over the Greek golden visa threshold (โฌ250,000) are in Central Greece, where the average house price is โฌ251,800.
Popular areas for international buyers in Central Greece include Karpenisi, Lamia and Amfissa. While you might not be near the coast, mainland Greece has a lot of natural beauty to enjoy, from rolling hills to vast vineyards that span as far as the eye can see. Properties are available for under โฌ275,000, perfect for those looking to benefit from the golden visa program without breaking the bank.
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Ionian Islands
Many British buyers choose to purchase holiday homes in the Ionian Islands, especially Corfu and Kefalonia. Corfu is the northernmost island and the second largest in the archipelago. The most sought-after properties in Corfu are located in the central and northeastern areas. Prime locations are Kontokali, Gouvia and Dassia in the north, and Agios Stefanos and Kassiopi in the south.
Properties in the Ionian Islands are the third most expensive in Greece. The average home costs โฌ452,600 and the average apartment costs โฌ169,700.
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The Peloponnese
The Peloponnese offers a low cost of living, natural beauty, and great investment potential.
The region is made up of five prefectures. Kalamata airport is located in Messenia to the west. While the prefectures of Corinth and Argolis are within driving distance of Athens in the east. Big communities are found in the towns of Kalamata, Corinth and Argos. Nafplio is another popular small town.
The average price for properties in the Peloponnese is โฌ288,200 for a 200-square-metre home and โฌ108,100 for a 75-square-metre apartment.
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