Greece plans to expand a Greek Golden Visa program, offering residence permits to foreigners buying houses or property worth more than 250,000 euros, Economy and Development Deputy Minister Stergios Pitsiorlas said recently.
He said that the program adopted by Greece was the most competitive in Europe and has led to significant investments in the country. Pitsiorlas said the program will include other assets beyond houses or property. These changes are related with investment opportunities opening up from the country’s participation in the so-called “silk road”, including a group of 30 countries. Pitsiorlas said the outcome of contacts made during an official visit in China by the Greek Prime Minister and government officials showed strong interest by Chinese companies to invest in a coordinated way in Greece, particularly in the real estate and financial sectors.
According to information, the Greek Golden Visa program will also include investments in the bond market or in investment funds’ shares worth at least 250,000 euros.
Economy ministry figures showed that by January 31, 2017, Greece has granted 1,573 residence permits to third country citizens who invested in property assets in Greece, led by Chinese (664), Russia (348), Egypt (77), Lebanon (73) and Ukraine (67).
The Bank of Greece, in a report, said that the value of houses sold to foreign investors grew by 34.5 pct in 2016 to 250 million euros, from 186 million in 2016, although real estate sources said the real money invested in the sector was larger.
Investors from Turkey, China, Egypt, Russia and other countries from Asia and Africa are showing strong interest this year. Their interest focuses mainly on downtown Athens, seaside suburbs and high-profile travel destinations such as Mykonos, Santorini, Spetses, Antiparos, Crete.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Source: ANA-MPA
