On September 16, the Greek Labor and Social Affairs Agency announced that from January 1, 2023, the Greek golden residence visa will officially increase to 500,000 euros!
01
#official price increase
It is only 3 months before the current policy is abolished
On September 16, the Greek Labor and Social Affairs Agency released a question and answer on the government’s new housing policy, which mentioned that from January 1, 2023, the price of the Greek golden residence visa will officially increase! It will increase from the original 250,000 euros to 500,000 euros.
According to the exchange rate of euro to yuan on September 19:
1 Euro = 6.9724 RMB
250,000 Euros = 174,3100 RMB
This means that the investment cost for Chinese people to obtain permanent residence status in Greece through the golden residence visa has doubled, and it needs to increase by more than 1.7 million!
At present, the repeal of the current policy of the Greek Golden Residence Visa has not yet been announced. However, referring to the abolition of the old policy on investment immigration in Turkey this year/the implementation time of the new policy (only 2 months from the announcement of the new policy to the abolition of the old policy), it is predicted that the current policy of the Greek golden visa will be abolished at the end of December, with only more than 3 months left, or even more short.
All in all, the era of low-cost immigration to Greece is coming to an end. If the last train does not catch up, more than 1.7 million will be invested!
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#reason for price increase
Rising house prices hit the middle class
According to the official Greek explanation: it is desirable to introduce funds, especially to invest in the real estate market. However, at present, property conditions and prices in Greece are generally rising, and the limit should be adjusted to a higher level, allowing investors to focus on higher-value properties, thereby reducing the impact of property price increases on the middle class and local properties.
The industry generally believes that the popularity of Greek real estate is driven by strong demand from overseas buyers and high inflation. Through a set of data, we have a glimpse of the Greek real estate boom.
According to the latest data from the Bank of Greece:
In the first quarter of this year, foreign investment in the Greek real estate market reached 374 million euros.
Across Greece, property prices have risen by 31.2% in 4 years;
In the second quarter of this year, the national residential property sales price in Greece increased by 9.4% year-on-year;
From April to June this year, the price of new apartments in Greece rose by 10.5%, and the price of old houses rose by 8.7%;
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#benefit
It's a good time to buy a house in Greece
In the near future, the Greek government will implement a series of favorable policies for tax relief and tax relief for the real estate industry, hoping to stimulate investment and boost the development of the Greek construction industry.
At present, the Greek government has submitted to the parliament a draft law containing three measures, including:
The 24% VAT exemption on new buildings is expected to be extended for another two years to 2024;
defer 15% capital gains tax on real estate for 1-2 years;
40% discount on the cost of renovating or upgrading Greek buildings over the next 4 years.
These three policies are undoubtedly a major benefit for high-net-worth individuals who intend to immigrate to Greece through golden residence visas.
Based on the official implementation of the policy, investors will not only reduce investment costs, but also obtain three-generation green cards for the whole family in Europe, and realize multiple demands such as overseas asset allocation, smooth global travel, and children's education. Moreover, the appreciation potential of Greek real estate has been optimistic in recent years, and the investment prospects are good!
Since the beginning of this year, the immigration policies of various countries have been constantly changing, shutting down and increasing prices. Now the "Golden Residence Visa" in Greece has been determined to rise to 500,000 euros. Immigration should be done sooner rather than later! If you hesitate, you will miss the last train of low-cost immigration to Greece!
A Greek golden visa can bring so many "surprises" to the whole family, and more and more international investors come here. .
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