The Finance Ministry presented the new criteria for the Golden Visa amid housing pressure in the Greek market.
The most important change – confirming the naftemporiki.gr
report – is the increase of the investment to 800,000 and 400,000 euros. Moreover, investors can only buy a property with a surface area above 120 square meters.
The new criteria
More specifically, Finance Minister Kostis Hatzidakis announced the following criteria for a 5-year residence permit, as of March 31 – given that the relevant amendment will have been passed by then:
In Attica, Thessaloniki, Mykonos, Santorini and the islands with a population of over 3,100 inhabitants, the required amount for the purchase of a residence increases to 800,000 euros.
In other regions, the threshold is set at 400,000 euros and above.
In any case, the investment must be made in a property of at least 120 sq.m.
Investments in historic buildings must be at least 250,000 euros.
For buildings that have industrial use and are converted into houses, the threshold is 250,000 euros.
Short term rentals are not allowed
According to Hatzidakis, residence permits can be renewed for five additional years as long as the property remains in the ownership of the investor. If sold, the residence permit is not valid.
Buyers can rent the properties, however short-term rentals (AirBnB) are not allowed.
Also, in cases of conversion of the property into a residence, it cannot be used as a business headquarters. In case of violation, the license is revoked and a fine of 50,000 euros is imposed.
