Greece has given investors more time to complete the purchase and sale of houses and obtain a residence permit on the terms in force until the autumn of this year. Provided that they have signed a contract and made a 10% prepayment by August 31.
Starting from September 1, 2024, the government introduced significant changes to the investment residence permit program. In the most sought-after regions such as Santorini, Mykonos and Attica, the threshold for the cost of real estate for applicants for a residence permit has been raised from 500,000 to 800,000 euros.
Investors who signed a housing purchase agreement and made a 10 percent deposit by August 31, 2024, were allowed to participate in the scheme on the old terms if they complete the transaction and manage to pay in full by December 31, 2024. There was such a transition period was originally provided by the Greek authorities.
This period has now been extended for another two months, until February 28, 2025.
The Golden Visa for Greece is still very attractive. In October, the program received 12,577 initial applications, which is 12% more than in October 2023. The most active applicants in October were citizens of China, Turkey, Lebanon, the United Kingdom and the United States.Source: Greek City Times
