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Greece has been a tourist hotspot for decades, but in recent years, it has also become an increasingly attractive destination for foreign investors. With its strategic location, strong economy, and investment-friendly policies, Greece has emerged as an investor’s paradise.

Golden Visa

One of the key factors driving investment in Greece is the country’s Golden Visa program. The program allows investors and their families to obtain a five-year residence permit in Greece in exchange for investing in the country’s real estate market. The minimum investment amount is €250,000, and the program has proven to be popular with investors from around the world. In fact, the Golden Visa applications in Greece are on the rise, signifying the global interest the country has amassed in recent years.

But the Golden Visa program is just the tip of the iceberg when it comes to Greece’s appeal to investors. The country’s economy is growing at an impressive pace, with GDP growth being over 6% in 2022. This growth is driven by a range of factors, including Greece’s strategic location at the crossroads of Europe, Asia, and Africa, its strong shipping industry, and its rapidly growing tourism sector.

Tourism

Greece’s tourism industry is particularly noteworthy, with over 30 million visitors per year. The country’s stunning beaches, ancient ruins, and vibrant culture are just some of the attractions that draw tourists from around the world. But the tourism industry is also a major driver of economic growth, providing jobs and driving demand for a range of goods and services.

Investor Friendly

In addition to its strong economy, Greece also offers a range of investment-friendly policies. The country has a flat corporate tax rate of 24%, which is one of the lowest in Europe. Greece also offers a range of tax incentives and exemptions for foreign investors, making it an attractive destination for businesses looking to expand into new markets.

Finally, Greece’s government has made a concerted effort to improve the country’s business environment in recent years. This includes reducing bureaucracy, simplifying regulations, and creating a more investor-friendly legal framework. These efforts have paid off, with Greece ranking 61st in the World Bank’s Ease of Doing Business Index in 2021, up from 79th in 2020.

Rising Real Estate Market

Rising prices in the real estate market can be a strong indicator of development in a country, and this is true for Greece. As the economy recovers and the country stabilizes, demand for real estate has been increasing steadily. This has led to an increase in property values, with prices rising in major cities like Athens and Thessaloniki, as well as in popular tourist destinations such as the Greek islands. This trend is a positive sign for the Greek economy, as it indicates that investors have confidence in the market and are willing to put money into real estate. Furthermore, as property values continue to rise, it may encourage further development and growth in the country’s real estate sector.

Conclusion

All of these factors combine to make Greece an investor’s paradise. With its strategic location, strong economy, investment-friendly policies, and growing tourism industry, Greece offers a range of opportunities for investors looking to expand into new markets. Whether you’re interested in the Golden Visa program or other investment opportunities in Greece, the country’s future looks bright for those willing to take the plunge.

Read more about why you should invest in Greece here.

Take a look at Solid Developments’ latest projects Luxury Villas and Artion Residence in Nikiti, Chalkidiki.

The Greek Government has recently made an announcement regarding the highly anticipated changes to the Greek Golden Visa program. As per the statement made by the Prime Minister, the visa program will undergo a price hike. This news has been a topic of speculation for several months, and the investors and individuals who were planning to apply for the program were eagerly awaiting the announcement.

The government has now confirmed that the price hike will indeed take place, and new regulation L. 5007/2022 Articles 91 and 92 have been introduced to outline the changes. These regulations specify the areas that will be affected by the price hike.

Areas Affected

Under Article 91 of the new regulations, the minimum qualifying real estate investment required for the visa program has been increased from €250,000 to €500,000 for:

• North, Central, and South Sectors of Athens
• Municipality of Vari – Voula – Vouliagmeni (Region of Attica)
• Municipality of Thessaloniki (Region of Central Macedonia)
• Regional Units of Mykonos and Santorini (Region of South Aegean)

However, any property in a region other than those mentioned above will maintain the €250.000 price point moving forward. Leaving a 90% of Greek municipalities in an advantagious possition for future Golden Visa Investors.

Greece Golden Visa – Real Estate Investment Requirement by Municipality

Investing in Chalkidiki

Chalkidiki thus presents a great alternative for investors who are interested in the Macedonian region up north, with lower minimum thresholds to qualify for the Golden Visa program and higher yields compared to Thessaloniki. In fact, Chalkidiki currently holds the highest yields in Greece (you can read more in our article here). Furthermore, the rise of the Golden Visa in Thessaloniki is bound to direct investors to Chalkidiki as the closest municipality.

We are in the pleasant position to watch our project come to fruition one step at a time. We are moving in a fast and steady pace from the beginning. For that we are thankful to the professionalism our partners and workers have shown us, as well as the excellent weather conditions. We have started on 19/11/2020 and we are positive we will finish on our promised time. We do our best not to match but exceed your expectations since we received much love and interest from our partners, the local community and especially our clients! Bellow you can witness yourselves the aforementioned progress.