Greece adjusts Golden Visa program amid rising outlook for property market

Prices for Greek real estate are expected to continue higher, according to the central bank, a trend that is leading the government to fine tune investment thresholds for the country’s popular Golden Visa program to better channel property purchases by foreign buyers.

According to the latest annual report by the Bank of Greece, Greek housing prices jumped 13.4% last year following an 11.9% increase in 2022 and a 7.6% rise in 2021. The report notes a combination of factors that will help support prices in the near to medium term. In particular, it cites strong demand from foreign investors, Greece’s tourism boom, and young people looking to buy their first homes with government support, combined with the short supply of new constructions.

“Expectations for the Greek real estate market for the period ahead remain moderately positive, as uncertainties related to geopolitical instability at a global level remain significant,” the report says. “In the short term, however, and as long as foreign demand remains strong, prices are expected to continue their upward trend in the high-end segment of the market, lifting up prices in ancillary markets as well.”

The outlook by the Bank of Greece follows other data showing a banner year for real estate development, with building activity at a 13-year high and a further 13.5% jump in housing prices in the first quarter around Athens.

To better channel foreign interest in Greek real estate, the government has announced fresh changes to the Golden Visa program effective March 31. In the most sought after property markets – around greater Athens, greater Thessaloniki, Mykonos, Santorini, as well as islands with a population of over 3,100 inhabitants – the minimum threshold for securing a Golden Visa through real estate acquisition has been increased to €800,000. In other areas the threshold is €400,000.

But for industrial buildings that are converted into housing, and for historic buildings, the minimum threshold is €250,000. The government has also introduced incentives to convert non-residential buildings into homes, and for the conservation and restoration of historic buildings. The new rules also require that residential real estate acquired by investors be at least 120 sq.m. and explicitly prohibits its use for short-term rentals.



Golden Visa

The Greek government is planning to raise the minimum threshold for Golden Visa applicants investing in real estate to €800,000 in high demand areas, Prime Minister Kyriakos Mitsotakis said in remarks to Parliament. The move reflects the ongoing success of the program, which has brought in more than €1.5 billion in investment since it was launched in 2014. Last year, the government doubled the minimum threshold to €500,000 for qualifying properties in the center of Athens and Thessaloniki, as well as the popular tourist islands of Mykonos and Santorini.

Hermione Hills Luxury Cottage

Welcome to our cherished heritage property, a place where cherished memories and family history intertwine. This house holds a special place in our hearts as it is a legacy passed down from my beloved father. With great love and respect, we have meticulously renovated and restored this home, ensuring that its character and charm remain intact while offering modern comfort. Each corner of this house tells a story, and we invite you to create your own unforgettable moments within its walls. As you stay here, we hope you feel the warmth and love that we have poured into this place, honouring the memory of our father and creating a space for new memories to be cherished for years to come.

Escape to the tranquility and natural beauty of our cozy cottage, nestled in the heart of Ermionida region. Perfectly situated to offer both relaxation and adventure, our cottage is an ideal getaway for couples, families, or friends looking for a memorable vacation. Inside, you’ll find a warm and inviting space that blends rustic charm with modern comforts. Continue reading »

Me and AI in a short interview…

Under the weight of the train accident in Tempe, the lights fall on the Infrastructure of our country, and how much we have invested in it, as a development requirement… I thought I’d ask the AI and see what it says…

me: Do you have any data about the Public Investments in Infrastructures in Greece?

AI: Yes, I can provide you with some data about public investments in infrastructure in Greece.

According to the Hellenic Statistical Authority (ELSTAT), the total public investments in Greece for the year 2020 amounted to €8.9 billion, of which €3.3 billion (37%) was allocated for investments in infrastructures.

Specifically, the breakdown of public investments in infrastructures in Greece for 2020 was as follows:

  • €1.8 billion for transportation infrastructure
  • €1.1 billion for energy infrastructure
  • €244 million for water supply and sanitation infrastructure
  • €91 million for telecommunications infrastructure
  • €58 million for other types of infrastructure

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Greenwich estate that held title of America’s priciest home now lists for $150M

Copper Beech Farm is the largest waterfront parcel in Greenwich. Situated on a private peninsula, it spans over 50 acres with almost a mile of frontage.

When Connecticut’s Copper Beech Farm sold for $120 million in 2014, it was the priciest home sale the country had ever seen, but the buyer’s identity remained secret. Now the mystery owner of the storied 50-acre estate is putting it back on the market for $150 million.

With nearly a mile of private frontage on Long Island Sound in affluent Greenwich, Copper Beech Farm is considered among the most significant single-family properties in the country. Originally known as Kincraig, the estate dates to the 1890s and once belonged to the Lauder Greenway family—Harriet Lauder Greenway’s father helped Andrew Carnegie start what would become U.S. Steel. The centerpiece is a French-Renaissance mansion spanning around 13,500 square feet.

One of the listing agents, declined to comment on the current owners, saying only that they are “Connecticutites.” She said their identity has been a “closely guarded secret” in the community since they purchased the property from timber tycoon John Rudey. Records list the owner as the Connecticut-based The Conservation Institute, LLC.

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Τι ενοίκιο έχει ένα διαμέρισμα στο κέντρο των Ευρωπαϊκών πρωτευουσών το 2023

Το κόστος του ενοικίου παραμένει το βασικό έξοδο για κάθε Eυρωπαίο το 2023. Με στοιχεία σημερινά (31-1-23) από το numbeο που παρακολουθεί το κόστος ζωής των πόλεων, τα Γεωγραφικά δημιούργησαν ένα ινφοχάρτη της Ευρώπης που δείχνει το μέσο μηνιαίο κόστος για να νοικιάσεις ένα διαμέρισμα ενός δωμάτιου στο κέντρο κάθε ευρωπαϊκής πρωτεύουσας.

Με μια γρήγορη ματιά και προσέχοντας μόνο τα χρώματα, θα δείτε μια σχετική ομοιογένεια. Στις βορειοδυτικές χώρες τα ενοίκια είναι πιο τσιμπημένα, ακολουθεί η Δυτική Ευρώπη, η Ανατολική Ευρώπη, και τέλος τα Βαλκάνια και οι γειτονικές τους χώρες.









Ενδιαφέρον έχει ότι ανάμεσα στην πιο ακριβή πρωτεύουσα (όσον αφορά πάντα το σημερινό ζητούμενο) και στην πιο φθηνή υπάρχει μια διαφορά της τάξης των 4939€. Και αν συμφωνήσουμε ότι το Μονακό είναι ιδιαίτερη περίπτωση κράτους, η διαφορά του δεύτερου Λονδίνου με την τελευταία Άγκυρα παραμένει σε υψηλά επίπεδα (2017€).

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Ωρολογιακή βόμβα οι αυξήσεις τιμών στα οικοδομικά υλικά

Σε «ωρολογιακή βόμβα» για την αγορά ακινήτων εξελίσσεται η εκρηκτική αύξηση στα οικοδομικά υλικά, η οποία μεσοσταθμικά ανέρχεται στο +35%, ενώ σε ορισμένες περιπτώσεις ξεπερνά ακόμη και το 50%.

Όπως επισημαίνουν κύκλοι της αγοράς, το υπέρογκο κόστος των οικοδομικών υλικών σε συνδυασμό με την αύξηση της τιμής του ακινήτου, αλλά και την αναπροσαρμογή των αντικειμενικών αξιών από την 1η Ιανουαρίου επιβαρύνει ακόμη περισσότερο τον κλάδο του real estate.

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Δήμος Πειραιά

Ισχυρή κινητικότητα δείχνει να παρουσιάζουν τα ακίνητα του Πειραιά, ιδιαίτερα εκείνα που είναι στο εμπορικό κέντρο, στο Πασαλιμάνι και την Καστέλλα. Το κέντρο του Πειραιά υπήρξε για χρόνια σε μία λιμνάζουσα φάση. Απουσίαζαν οι μεγάλες επενδύσεις. Φαίνεται τώρα, η ανάπτυξη του λιμένα, τα έργα υποδομής όπως το τραμ και το μετρό, καθώς και μεγάλα οικιστικά, αλλάζουν εντελώς την προοπτική ενός “παρεξηγημένου” δήμου. Δεν είναι λίγοι από το υπόλοιπο λεκανοπέδιο που στρέφουν εκεί τα μάτια τους. Ακόμα, οι τιμές εκεί θεωρούνται άκρως δελεαστικές.

Ουρανοξύστες και πόλεις

Η απόφαση της περασμένης εβδομάδας που ελήφθη από τον αρμόδιο υπουργό Οικισμού, Κοινοτήτων και Τοπικής Αυτοδιοίκησης του Ηνωμένου Βασιλείου, Μάικλ Γκόουβ να αρνηθεί την κατασκευή του πύργου «Tulip» της Foster & Partners στο κέντρο του Λονδίνου φαίνεται ότι ξάφνιασε πολλούς, ειδικά καθώς είχε αναφερθεί ευρέως ότι στο έργο θα δινόταν το πράσινο φως.
Η απόφαση αυτή πανηγυρίστηκε Continue reading »

Three Parisian mansions to Lionel Messi


In August 2021, Lionel Messi signed a two-year contract with Paris Saint-German. Funded for a decade by Qatari sovereign wealth, PSG is one of the few clubs in the world that can afford the 34-year-old player’s salary.

Messi reportedly will be paid $41 million (35 million euros) a year. His former club Barcelona couldn’t meet the soccer star’s salary expectations after the Spanish football league inclined and stated that it wouldn’t be complying with salary cap regulations.

Messi arrived in Paris in mid-August with his wife Antonela Roccuzzo and three kids. The soccer player and his family stayed in one of Royal Monceau suits while looking for a long-term rental in residential areas close to Parc des Princes, PSG’s home stadium. The family expected to find the same home features they were used to living in Barcelona, including a swimming pool, an amenity rare to spot in Paris, even in the high-end segment. Continue reading »

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