Greece’s Golden Visa program grants five-year residency to investors who purchase real estate with a minimum value of EUR 250,000, which was in peak demand in the third quarter of 2022, according to a report released by the brokerage firm Tranio announced this week.
More specifically, based on customer requests from July to September 2022, the Golden Visa Program of Greece along with Portugal and Latvia are the most requested residency by investment programs in Europe.
During the third quarter of 2022, demand for the Greek Golden Visa Program increased by 290%, due to the upcoming increase in the minimum investment requirement from 250,000 EUR to 500,000 EUR due to Greek Prime Minister Kyriakos Mitsotakis recently announced.
At the same time, requests for visas in Spain and Portugal dropped compared to the previous quarter, which were impacted in part by the current recession globally, Tranio said.
According to Tranio data, the golden schemes offered by Southern European countries are winning over foreigner investors with similar programs in Turkey, Spain and Montenegro completing the Top 5.
“European demand for Golden Visas is affected by political uncertainty in 2022, but we cannot say that the decrease is part of applicants from Russia who canceled their applications. Tranio Commercial Director Elena Milishenkova said that investors from China, India and European countries are now turning more towards the UAE market, which promises high yields during the global downturn.”
Greece’s Golden Visa Program is again leading in Europe in the first half of the year, marking a 127% increase over the same period in 2021.
It should be noted that earlier this year, EU lawmakers called for a ban on “golden visa” schemes and an EU-wide regulation of visas should ensure stronger background checks on applicants and a thorough investigation into the source of the wealth.
We hope that the article “Greece’s Golden Visa Program ranks 3rd in Europe” has helped customers have more information about this potential Greek Real Estate investment opportunity and benefits!
Source: GTP Headlines