Chinese Nationals Remain Key Participants in Greece’s Golden Visa Program Amid Recent Changes
Chinese Investors Continue to Drive Interest in Greece's Golden Visa Program Despite Recent Amendments
Chinese nationals remain a significant demographic for Greece's Golden Visa Program, even as the scheme undergoes changes aimed at addressing the country’s housing crisis.
Shift in Investor Profile
Market executives suggest that recent amendments to the program are likely to attract individuals with greater financial resources or companies.
- Stavros Monemvasiotis, President of the Greek-Chinese Business Development Committee of the Athens Chamber of Commerce, noted a shift in the type of Chinese investors.
- New investors from China are scanning the Greek real estate market for opportunities, focusing on larger-scale investments.
Investment Trends and Destinations
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Popular Property Types:
- Chinese nationals are showing increased interest in holiday homes, tourism properties, and student housing.
- These sectors align with Greece’s growing tourism and education markets.
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Key Locations:
- In addition to Attica, cities like Iraklio, Patra, Ioannina, and Thessaloniki are emerging as prime destinations for Chinese investment.
- A €15 million investment in Ioannina has already been reported as part of this trend.
Increased Minimum Investment Requirements
To address the housing crisis, the Greek government introduced several amendments to the Golden Visa Program, including:
- Higher Minimum Investment:
- The minimum amount for real estate investment in some high-demand areas, such as parts of Athens, has been raised to €800,000.
Sustained Interest Despite Challenges
Despite these stricter requirements, Greece continues to attract Chinese investors seeking residency through real estate and other options. The Golden Visa Program remains a cornerstone of Greece’s efforts to attract foreign capital while managing the challenges posed by the housing market.
These developments reflect a shift toward higher-value investments, with Greece positioning itself as a destination for more substantial foreign contributions to its economy.
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