Minimum property limit for golden visa rising to 500,000 euros in parts of Greece

The minimum value of a property that must be acquired to grant eligibility for a Golden Visa will be increased to 500,000 euros in certain parts of Greece, according to an amendment tabled in Parliament by the development and investments ministry, attached to a health ministry bill that is to be debated in the plenary on Wednesday, ANA reports.
The new minimum value at the time of purchase will apply to the North, Central, and South sectors of Athens in the Attica Region, the islands of Mykonos and Santorini, and the Municipality of Thessaloniki. It also applies to the total agreed price of contracts for the lease of hotel accommodation or furnished tourist residences in these areas, which must be paid in full before applying for a permanent residence permit for investors.
For the remainder of the country, the previous minimum value of 250,000 euros will continue to grant eligibility for an investor permanent residence permit, or Golden Visa.
Third-country nationals who already have a permanent residence permit for investors can renew this for an equal time period provided they still have ownership or possession of the property and the period of their absence from the country does not cause problems. Additionally, third-country nationals who own property in Greece are permitted to lease it.
The golden visa is issued within two months of submitting the application and supporting documents.
Third-country citizens will have until December 31, 2023, to complete contracts that are in progress in the areas where the upper limits will change.

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