Is it that easy for foreign investors to acquire real estate in Greece?
In recent years, Greece has significantly improved its legal framework, facilitating the acquisition of real estate by foreign investors and establishing itself as one of the most attractive investment destinations in Europe.
Facilitation for real estate investments:
Golden Visa Program:
Since 2013, this program has enabled non-EU citizens to obtain a residence permit by investing in real estate. From September 1, 2024, the minimum investment amount will be increased to €800,000 in certain areas such as the Attica region, the regional units of Thessaloniki, Mykonos and Santorini and on islands with more than 3,100 inhabitants. In other regions, the threshold is €400,000 and even lower in Corfu. Further information can be found under the following link.
Best Golden Visa in Greece Service 2023 | Roula Rouva Real Estate Agency. | Corfu – Paxos – Ionian Islands – Greece
Digitization of procedures:
The process of transferring ownership has been greatly simplified by digitization, reducing bureaucracy and speeding up transactions. The use of electronic services, such as e-Metavivasi (e-Transfer), has made the process more efficient and transparent.
Digital Nomad Visa Program:
Greece has introduced the “Digital Nomad Visa” for people who want to live and work in Greece. This has increased interest in real estate purchases from people who want to combine work and quality living.
Tax incentives:
The Greek government has introduced tax incentives for investors, such as a reduction in land transfer tax and the suspension of VAT on the purchase of newly built properties. In addition, the taxation of rental income is competitive compared to other European countries.
Non-Dom Program:
This program is aimed at foreign private individuals who wish to relocate their tax residence to Greece and offers them tax benefits. Investors who purchase real estate can benefit from low tax rates on their total income.
Stable investment environment:
Political stability and favorable legal measures have created a secure and investor-friendly environment that is boosting demand for real estate.
Competitive advantage:
With its mild climate, high quality of life and attractive residency programs, Greece offers more opportunities for those interested in real estate investments than other European countries.
