Why the Greece Golden Visa is a magnet for global investors

*This content is supplied by Sable International

With Greece’s booming economy and growing real estate market, the Mediterranean country is a great option to gain residency-by-investment through the Greece Golden Visa Programme.

Greece has been named the best-performing economy for the second consecutive year. Under the strategic leadership of Prime Minister Kyriakos Mitsotakis, Greece isn’t just playing in the big leagues, it’s outshining economic titans like the United States, Japan, China, and Germany. Greece, once the underdog, now leads the pack, as highlighted by The Economist.

Why does this matter? The Economist’s elite index isn’t just a bunch of numbers. It’s a deep dive into GDP changes, stock market growth, employment trends, and inflation rates. It’s the holy grail for investors hunting for the next big thing. And Greece? It’s not just meeting expectations, it’s setting the bar, proving it’s a heavyweight in the economic arena.

Property investment in Greece

The Greek property scene is buzzing. It’s not just about the sunny beaches and ancient ruins, it’s about the numbers. Greece’s inflation rate has fared well compared to its neighbouring peers, with a forecasted 2.6% inflation rate for 2024. Furthermore, it has recently regained investment grade status for its debt, thereby attracting strong investment into the economy. This all bodes well for Greece’s economic growth and in turn the real-estate market.

For those eyeing a smart move into investment migration, the Greece Golden Visa programme is a golden ticket, offering EU residency for a €250,000 property investment. It’s a win-win: investors get a slice of the booming Greek market and a backdoor key to the European Union.

Megan Copley, Sales Director of Sable International’s Offshore Real Estate and Investment Migration division feels strongly about this. “Greek property represents a great opportunity for investors to buy property in a relatively low Euro price per square meter European hub, with prices in major Southern European cities rising exponentially in the last 10 years, it’s now time for Greece to have its day in the sun. With an increasing number of foreign investors entering the Greek property market, a hub of activity and demand for good quality rental property. With the added benefit of a Golden visa, it’s a great deal for the investor.”

Megan does, however, add a note of caution, given the success of the programme, it was announced recently by the Greek Prime Minister that the entry price for this golden visa could increase to as much as €800,000. So those interested in EU residency at €250,000 should explore this option before this increase comes into effect, as they have done in other jurisdictions like Portugal.

Benefits of the Greece Golden Visa Programme

Launched in 2013, the Greece Golden Visa Programme not only gives residents visa-free access to the Schengen area for business and leisure purposes, but it allows you to include multiple generations of your family. You can include your spouse and children under 18 on your application as well as any children under the age of 21 if they are unmarried and still financially dependant on you.

A unique selling point of the Greece Golden visa is that your parents can be included in your application without needing to prove dependency. Because of this, if your children are over 21, they can be listed as the main applicant and include you on their application.

In addition to this, the Greece Golden Visa is simple, efficient, and uncomplicated. The whole process can be completed in as little as four to six months. You also don’t have to stay in the country for a minimum amount of time to maintain your residency status.

The rising star of the EU

Prime Minister Mitsotakis, with a majority government in place for another three and a half years, is the captain steering this ship. His vision for sustainable growth isn’t just talk; it’s happening, and it’s making Greece a hotspot for investors worldwide.

Investing in Greece right now isn’t just smart, it’s a golden opportunity to be part of the world’s top economy. With Mitsotakis at the helm and Greece’s star rising, it’s time for investors to make their move and be part of this exciting journey.

Interested in gaining your Greece Golden Visa through property investment? The Sable International team will be visiting Cape Town, Johannesburg and Durban from 21 – 29 February. Book your free one-on-one consultation here or get in touch with Megan Copley at +27 (0) 66 292 7057 or [email protected] to discuss your property options in Greece.