Greece’s new prices: what to expect?

• Posted on Oct 01, 2024
• In Industry News, Europe, Greece

Greece’s new prices: what to expect?

Greece Golden Visa has always been one of the most attractive residence-by-investment options in Europe since its inception in 2013, and investors who took advantage of the limited-time opportunity before prices tripled, have won a lot of benefits.
But what are we expecting after this historical price triple?

Previous Investment Thresholds

Previously, the minimum investment for the Golden Visa was as low as €250,000 for properties in selected neighborhoods of Athens and other sought-after locations in Greece, making it accessible to many investors. This drew substantial foreign capital, helping to rejuvenate the real estate market and other key sectors of the economy.

New Investment Thresholds

Effective September 1, 2024, new investment thresholds have been introduced:
€800,000 for properties (minimum 120 sqm) in high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, and islands with over 3,100 inhabitants.
€400,000 for properties (minimum 120 sqm) in other regions of Greece.
€250,000 for acquiring and fully restoring historically or culturally significant properties.
€250,000 for converting commercial or industrial properties to residential use (conversion must be completed before application submission).
*These updates aim to address the housing shortage caused by increasing property prices in popular areas while encouraging investment in lesser-known regions.

New prices, new horizons

Our Greece Program Director, Carolina Figueiredo, highlighted the benefits of the newly introduced €250,000 investment option for converting commercial properties into residential ones. “This will breathe new life into vacant properties, addressing the supply shortages in the market,” she pointed out.
“On the other hand, it represents a feasible option that allows to continue investing in locations of interest, since there are no geographical restrictions as to where these properties can be acquired.”
Figueiredo emphasized, “It’s still one of the most cost-effective pathways to European residency, offering flexibility and significant long-term value,” and she concluded, “The wide variety of different thresholds for investment in real estate is also an added value to the Golden Visa as a program, catering for different budgets, in different locations.”

How Arton Capital Can Help

At Arton Capital, we are dedicated to guiding you through every step of the residency or citizenship by investment process. From personalized consultations tailored to your specific goals to complete application management, we ensure a smooth and compliant journey. With our expert legal support, you can confidently navigate the process, and even after approval, we provide ongoing assistance to help you maintain your new status.
Connect with us today to take the next step toward global citizenship.