The discussion around the Golden Visa program remains active, as it continues to attract investment interest and shape trends in the real estate market. Manos Kranidis, Information Secretary of POMIDA, speaking to Tornos News, notes that the Golden Visa program remains one of the most talked-about economic policy tools, as it continues to attract significant foreign investors and strengthen the Greek real estate market.
Mr. Kranidis emphasizes that the true weight of the program now lies not only in the immediate economic benefit from taxes and construction activity, but mainly in the exceptions introduced for listed buildings and properties undergoing change of use. As he explains, these provisions create real added value in the city, transforming closed or abandoned buildings with no immediate demand into residences that return to the active housing stock.
The revitalization of listed buildings carries a dual significance: on one hand, it reinforces architectural heritage, and on the other, it attracts investment into properties that would otherwise continue to degrade entire areas. Equally important is the contribution of change-of-use regulations, as the conversion of old commercial spaces into residences helps bring life back to neighborhoods with high abandonment rates.
Despite the positive aspects, Mr. Kranidis notes that the Golden Visa still triggers reactions that cannot be ignored. Among them are the pressure on property prices in popular areas and the bureaucratic hurdles that often burden the implementation of the program. The balance required, he stresses, lies between maintaining investment momentum and protecting the housing and residential market: the goal now is to preserve investment momentum while ensuring balance with the needs of society and the housing market.
The Golden Visa has evolved into a tool that can deliver development, yet it also requires proper design so as not to create distortions in housing policy. The challenge is not to restrict investment activity, but to channel it in ways that strengthen cities and neighborhoods without burdening their residents.
The framework already has the foundations to operate in favor of both the economy and quality of life, provided that the regulations continue to support a more balanced and sustainable perspective.
