On the evening of October 23, local time, Greek Prime Minister Kyriakos Mitsotakis announced the launch of a series of tax reduction policies for the real estate sector, aiming to stimulate investment and boost the development of Greece's construction industry. This includes a policy exempting new buildings from the 24% value-added tax, applicable to properties with building permits issued after January 1, 2006, for a period of three years.
At a conference hosted by The Economist, Mitsotakis pointed out that the Greek real estate market is already recovering, with real estate prices rising by 7.7% in the second quarter of 2019, which is impressive. In the future, the Greek government needs to take bolder measures to promote the development of the entire construction industry.
Currently, the 24% value-added tax rate in Greece applies to non-Greeks who do not use the property as their primary residence. Suspending the value-added tax will stimulate foreign interest in Greek real estate and the Greek Golden Visa program, which will also positively impact market development.
Following the introduction of a low-threshold property purchase immigration policy, Greece has announced the suspension of the value-added tax on real estate investments. This not only enhances the investment confidence of foreign investors but also represents a significant benefit for those looking to purchase property or start a business in Greece, reducing the cost of investment. At the same time, these favorable measures will attract overseas individuals to purchase property in Greece, thereby applying for Greek immigration status and promoting economic development. For investors interested in immigrating to Greece, seizing the current favorable policy opportunity is a wise choice.
Currently, through the Greek property investment immigration program, investors can purchase property starting from €250,000, not only obtaining permanent ownership of the property and participating in Greek tourism real estate investment but also allowing their entire family to apply for Greek permanent residency visas, enabling them to travel freely across 26 Schengen countries while enjoying Greece's generous social welfare benefits, achieving multiple advantages.
Worldway Group introduces investors to a variety of properties with different styles, including brand new apartments in downtown Athens, seaside apartments, garden villas on islands, street-level hotel shops in Athens, student apartments, and more. Various properties are available for selection, suitable for both personal use and rental, meeting the needs of different types of clients.
Athens Downtown New Apartment Project Overview
Unit Type: 1 Bedroom, 1 Bathroom
The project consists of 54 modern serviced apartments, located in a prime area with convenient transportation, elegantly designed, and equipped with facilities such as a gym and rooftop swimming pool for residents. From the first floor to the rooftop, residents can enjoy magnificent views of the Acropolis and the city center of Athens. Investors can purchase two units starting from €257,000, and the modern serviced apartments provide additional comfort for tourists or a more unique travel experience.
Athens Seaside Apartment Project
Unit Type: 1 Bedroom / 2 Bedrooms
This project consists of a series of contemporary style apartments with large balconies. It is located along the beautiful Athens seaside promenade, in a prime location with convenient transportation. The project features rooftop open-air cinema, gym, lounge area, and other facilities, providing residents with a better living experience, making it an ideal choice for urban living.
Mykonos Garden Villas in Greece
Unit Type: 1 Bedroom
The Mykonos Garden Villas project is located in Mykonos Town on Mykonos Island, near Elia and Agrari beaches, featuring large gardens, swimming pools, and other facilities. It is a large property project on Mykonos Island. Once completed, it is likely to transform the island from a European tourist destination into a global travel hotspot, making it a good choice for overseas asset allocation.
Tinos Seaside Garden Villas in Greece
Unit Type: 1 Bedroom / 2 Bedrooms
This project is located on Tinos Island in Greece, the sister island of Santorini and Mykonos, where every unit enjoys beautiful sea views. The island has convenient transportation and well-developed living facilities, with the purchase including a large garden, swimming pool, and parking space, allowing residents to enjoy the joy of living by the beautiful Aegean Sea in a secluded design.
Athens Hotel Shops
The project is located in the main urban area, near the beautiful seaside promenade and the former royal area, with a good location overlooking the Acropolis of Athens, close to the subway station, and convenient transportation connecting to the city's transportation hubs, allowing easy access to various parts of Athens. The shops on the ground floor will include a hotel lobby, restaurant, café, etc., catering to the diverse lifestyle needs of high-net-worth individuals. The first floor is equipped with shared office areas, integrating living and working spaces, encompassing residential, work, leisure, and entertainment areas, creating a vibrant community.
In addition to the aforementioned property projects, Worldway also introduces investors to a variety of different types of properties for selection. Investors interested in Greece's property immigration are aware that in the current favorable economic environment in Greece, not missing out is the best investment! Therefore, investors intending to participate in the Greek investment market should seize the time, act early, and benefit early. For more details on Greece's property immigration, please consult: 400-138-2929.
Property images are for reference only, subject to actual delivery.