- December 18, 2017
- Posted by: CIP Journal
- Category: Golden visa, Real estate, Residency
Chinese are the top investors in buying residential properties in Greece, under the Golden visa program which requires a minimum 250,000 euro property investment, the cheapest in Europe, compared to Spain and Portugal. Property buyers get a five year residence permit in Greece, freely to move around in Schengen states.
According to Greek reporter,
Chinese investors account for 42% of all Greek investor visas issued. In the third quarter of 2017, Chinese buying inquiries went up 158.5%, compared to the same period in the previous year.
Athens is the top Greek destination for Chinese residential property buyers. The capital has a substantial lead over all other destinations in the country. “One incentive is Greece’s investment visa. It is one of the more lax visas that allow you to use property investment to get yourself onto the path towards European Union citizenship.
Greece Sold Foreigners 1,684 Golden Visas for Residency, Citizenship, reported by The National Herald generating over 1 billion euros investment in Greece.
Greece is also one of the popular European residence program among South Africans.
According to Enterprise Greece, The Greek program ranks first offering the most competitive entry level fee (250,000 Euros) and one of the most competitive programs in Europe.
Greece is seeing growth in tourism and real estate sector, reported by Greek reporter
- According to Enterprise Greece, the net volume of direct foreign investment has grown more than tenfold from 249 million euros in 2010, when it was at its lowest, to 2.8 billion euros in 2016.
- Prices of real estate in Athens are 42% below pre-crisis levels.
- September 2017, 2014 primary applicants have received a Greek residency permit.
Ekathimerini reports “Some 850 Chinese citizens have bought property worth a total of around 500 million euros in Greece by making use of the Golden Visa program”