Great news for Greek Property Purchase: the price increase window extended for 3 months!

Background: On December 21st, 2022, the Greek government officially announced that the policy of increasing prices by 500,000 euros in the Greek sub-regions had been postponed until May 1st, 2023, premise the investors pay a minimum deposit of 10% by April 30th, 2023, and complete the investment before the end of the year, then during the window period they still can purchase properties in these cities according to the old policy.

Last week, the Greek parliament voted to extend the transition period for another three months until July 31st. The government officially implemented the effective date for changing the investment threshold for some regions of Greece to 500,000 euros on August 1st, 2023!

This measure gives investors more time to choose a property and invest with the previous 250,000 Euro requirement, which is good news for investors who do not yet have an offshore account and can catch the last train to Greece by starting to register an offshore account now!

We must seize the following two-time points to lock in the old policies steadily: 1. At least 10% of the property payment in euros will be credited to the developer's account by July 31st, 2023 2. Sign the purchase contract before December 31st, 2023

The specific policies are as follows:

1. Investors must pay at least 10% of the total price before July 31st, 2023, and complete the property transfer before December 31st, 2023, to extend the old policy of 250,000 euros. 2. Only the northern, central, and southern parts of Athens, Thessaloniki, Mikonos Island, and Santorini Island will rise to 500,000 euros. At the same time, Piraeus, the eastern and western suburbs of Athens, and other regions will continue to maintain the original price 250,000 euros. 3. Under the latest policy, to migrate investors can maximum purchase two properties. Depending on the purchase area, the policy required the properties must be in the same building and the total value of the properties need to exceed 250,000 or 500,000 euros. 4. If investors do not continue to purchase the original property that has already paid the deposit, they can choose another property based on the old policy of 250,000 euros and complete the total amount of the property payment before December 31st.

According to the amendment to the "Golden Visa" submitted by the Greek Ministry of Development, the administrative regions involved in doubling the minimum investment requirement include: Central Athens: Athens、Vyronas、Galatsi、Dafni-Ymmitos、Zografou、Ilioupoli、Kaisariani、Filadelfeia - Halkidona North of Athens: Agia Paraskevi、Marousi、Vrilissia、Heraklion、Kifisia、Lykovrisi-Pefki、Metamorfosi、Nea lonia、Papagos-Holargos、Penteli、Filothei-Psyhiko、Chalandri、Ekali South of Athens: Agios Dimitrios、Alimo、Glyfada、Elliniko、Kallithea、Moschato、Tavros、Nea Smyrni、Palaio Faliro、Argyrupoli、Voula、Vuliagmeni、Vari Thessaloniki Mykonos island Santorini island

For other regions of Greece, such as the eastern and western parts of the Attica Region and the city of Piraeus, the minimum investment threshold of 250,000 euros will remain unchanged.

【Good Real estate Recommendation】： Exclusive project recommendations from Globevisa China

1. Recommendation for administrative regions involved in doubling the minimum investment requirement: Northern Athens - Celestine

Project keywords: Embassy school district high-quality good house/The only large enclosed luxury residence/Excellent design and strict quality control of building materials/next to top international schools & three wealthy areas in Athens This project belongs to the political transformation area. Still, as long as the investor paid at least 10% of the property's total amount before August 1st, 2023, and the property transfer can be completed before December 31st, 2023, 250,000 euros of old politics can be locked in!

2. Recommendation for administrative regions uninvolved in doubling the minimum investment requirement: Crete Island - Elia Hotel High-cost performance, Low entry threshold to luxury hotel investment, 1.6 million RMB for the whole family to get a green card.

Project keywords: Greece's largest island/International Brand， Long-term Operation/ 5-star hotel/Tax and lawyer fee Deduction， just enjoy/Hot Sale， only 7 seats left now.

3. Recommendation for administrative regions uninvolved in doubling the minimum investment requirement: 118 Existing houses with tenants receive rent upon purchase, with charter income up to 4% yearly. Project keywords: Existing house/Flexible choice of self-contained lease/Largest completed high-end residences in Athens Region/Stable resident population in Egang, nearly 40 enterprises around - strong rental demand

Prospects for the European Situation in 2023 In 2023, European countries have undergone political changes one after another, and the door to Europe has become increasingly narrow. Ireland and Portugal have closed down one after another, and Spanish political parties have also proposed or will close real estate investment immigration projects. All signs indicate that immigrating to Europe really cannot wait any longer! Greece is expected to experience a peak investment in home purchases and needs to seize the opportunity to capture reasonable housing quotas quickly. Global Overseas is also working hard to prepare for new projects to welcome the arrival of the peak period. The out-of-print and high-quality housing in the city center of the political change zone and popular investment areas is expected to be released soon. Universal has a comprehensive product framework. Whether residential properties in central, northern, and southern Athens or hotel investment projects in famous tourist islands such as Que Island and Zha Island, you have everything you want from Universal! One-stop house selection is on Globegroup Go Abroad!