The highly mysterious Greece has always been a dream paradise for tourists around the world. Today, with the introduction of the policy allowing residency through a €250,000 property investment, Greece has become a hotspot attracting numerous investors, including those from China.
Among the European countries that have successively launched property-based immigration policies, Greece's investment threshold is quite accessible. With a minimum investment of €250,000—equivalent to over 2 million RMB—one can realize the seemingly unreachable dream of moving from tourism to residency in the romantic Aegean Sea. Simple immigration requirements, a relatively low investment threshold, and high-quality natural and living environments have propelled Greece to become a "paradise for tourists and a hotspot for investors."
Greece is located at the southernmost tip of the Balkan Peninsula in Southeast Europe and includes many nearby islands (the Greek archipelago consists of over 1,500 islands). It covers an area of 131,957 square kilometers (with the islands accounting for 25,000 square kilometers), roughly the same size as China's Anhui Province. Two-thirds of Greece's territory faces the sea, with a coastline stretching 15,021 kilometers, making it very easy to purchase a villa or apartment facing the ocean. Looking back at the Greek real estate market, it experienced a peak in development after the 2004 Athens Olympics. Data from the Bank of Greece shows that property prices climbed until 2008, when the financial crisis erupted, causing Greek property prices to begin their decline from their peak.
In December 2012, Standard & Poor's upgraded Greece's long-term sovereign credit rating from "selective default" to "B-", representing a stable outlook. This indicated that Standard & Poor's acknowledged Greece's gradual recovery from the brink of bankruptcy. Under these circumstances, Greece also launched its property-based immigration policy in hopes of successfully attracting foreign investment capital and accelerating the recovery of the real estate market.
According to surveys, during the economic crisis, Greek property prices fell to a low point, making now an excellent time to bottom-fish in the Greek real estate market. Furthermore, as a well-known tourist destination, Greece is rich in tourism resources and has a mature tourism industry. Due to capital turnover difficulties caused by the economic crisis, many tourism-related properties have entered the market, providing investment opportunities; even many government buildings and diplomatic missions have been listed for sale. Diverse investment options, optimistic investment expectations, and a warming Greek economy are all stimulating more investors to join the ranks of property-based immigration.
