The Greek Golden Visa Program

The Most Affordable Golden Visa in the World, Today.

Low Investment of just 250,000 Euros

Greece offers the cheapest residence for investment. To secure it, applicants must purchase one or several properties of minimum €250,000.

Low Prices and Growth Potential

Real estate pricing in most large Greek cities, which average around €1,300 per square meter, is currently twice as cheap than Spain and Malta, and 1.5 times cheaper than in Portugal, providing great value for the long term

Rental Income

Greek Golden Visa holders can actually lease the purchased properties and generate monthly income that will compensate their investment.

1. Low Investment Threshold

Having just a low investment among all other countries that sell residency, an applicant can get one or more real estat totalling at least €250,000. In comparison, Latvian offers residency at the same amount but, under its conditions, investors must pay a 5% non-refundable fee, which increases the investment threshold to €262,500.

Additionally, in Malta, applicants must deposit a minumum that ranges from €270,000 or €320,000 depending on the location, or leasing from €50,000 or €60,000 in 5 years to buy a property. However, it is mandatory in the Maltese Golden Visa program  to invest €250,000 in public bonds and pay a €30,000 fee. Therefore, the minimum investment amount is €330,000.

Finally, in comparison to the above, the residence permit in Portugal can be obtained by purchasing a property worth €350,000, and only if it was built over 30 years ago or located in areas of urban regeneration, or €400,000, if situated in low population density areas.  Spain offers the same starting price in its program.

2. Opportunity to Buy Several Properties or Participate in a Large Project

Greece's Golden Visa program allows the purchase of several properties to meet the minimum investment threshold.

This is more restricitive in Latvia where an applicant can buy only in small cities, with the exception of the popular Riga and Jūrmala, while if an applicant wants to invest in Malta they can do only in one property which severly diminishes the any recap or earnincgs potential.

The Greek program also allow collective investments, provided that the applicants’ investments are not less than the established threshold values.


3. Low Prices and Growth Potential

Due to the current financial crisis in Greece, the price of real estate and especially small apartments have hit an all time low, making one lucrative market for investment opportunities. 

As a context and according to official data, real estate in Greece is 44% cheaper compared to its 2008 peak. 

In contrast, property prices in Spain are approaching peak levels, while prices in Portugal and Malta have already exceeded pre-crisis figures by 2% and 10% respectively.

This presents a fantastic opportunity for real estate investors and Golden Visa applicants, as they can explore all the opportunities that are given right now, purchasing cheap property and either reselling it or renting it out.


4. Rental Income

Golden Visa holders often do not need the purchased real estate as they are simply interested in obtaining the residency permit and trafel-free in Europe. Instead,  the can lease it to compensate for the investment.

In countries that offer low cost Golden Visa Programs like Greece, investors are free to do so, while Malta prohibits the lease of such properties during the first 5 years of ownership.

As this opportunity arises, the most lucrative scenario for owners of property would be in touristy locations where they can  rent out their properties as a  vacation rental in platforms like Airbnb, HomeAway or Booking.com as this type of lease returns higher yields compared to long-term rentals.

According to World Tourism Organization (UNWTO) statistics, Greece outnumbers Portugal twice and Latvia by 10 times in terms of international tourist arrivals. Spain is visited approximately three times more often, but thanks to a difference in prices per square meter, Greece yields a higher investment profit: about 5% after tax and management company expenses.

While rental rates for flats in Athens vary between €50 and €120 per night (according to location and season), and between €70 and €180 in Barcelona or Lisbon, real estate prices in these cities differ by almost three times: the average price per square meter is €1,265 in the center of Athens, €3,317 in Lisbon, and €4,399 in Barcelona.

This allows investors to obtain the visa and secure a “safe haven” asset, but also a potential income of 5% in foreign currency.

Get A Free Consultation

Our friendly staff is always happy to assist you and answer any questions you have, about the Greek Golden Visa Program.

Nikos Ioannou

CEO at Ioannou Law Firm

Marianella Ioannou

Notary Public

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