Good news: The Greek Parliament has recently approved the Greek government's national fiscal budget for the 2020 fiscal year. This is the first fiscal and budget proposal submitted by the Mitsotakis administration. What are the highlights of this budget? Let's take a look.
In the first fiscal budget submitted by the Mitsotakis administration, the most significant highlight is the forecast of 2.8% economic growth for Greece next year, in addition to nearly 1.2 billion euros in tax relief measures.
During the debate before the parliamentary vote, Mitsotakis stated that the 2020 national fiscal budget focuses on easing the pressure on the Greek middle class, boosting small businesses and the real estate sector, and achieving green growth. He said that prioritizing tax cuts, creating high-paying jobs, and restoring a sense of security and confidence fulfills the promises made to voters.
According to the fiscal budget, the primary budget surplus is projected to reach 3.56% of GDP next year, and the unemployment rate is expected to drop to 15.4%. By May 2022, the return on Greek government bonds is expected to reach 5.1 billion euros, and this revenue is anticipated to effectively boost the Greek treasury.
Regarding tax cuts, starting next year, the Greek government will gradually reduce the solidarity tax, corporate tax, and property transfer tax, and will further reduce the "Single Property Tax" (ENFIA) by 8% from its current level.
On the issue of green growth, the Greek government will implement a series of measures, including strengthening investment in energy upgrades for the real estate sector, closing lignite power plants by 2028, and increasing the share of renewable energy to 60% by 2030.
With the new Greek government in office and its continuous implementation of tax reduction measures, the Greek real estate market is seeing its value rise again, boosted by the government's series of initiatives. According to data released by the Bank of Greece, in the third quarter of this year, prices for both new and old properties across Greece continued to rise. Overall apartment prices in Greece rose by 9.1% compared to the same period last year, with the growth rate higher than the 7.7% seen in the second quarter. The capital, Athens, saw an even larger increase in housing prices, reaching a year-on-year growth of 11.9%.
As the Greek economy recovers and the government continues to introduce favorable tax reduction measures for the real estate market, now is an excellent time for investors to enter the Greek property market. Currently, through the Greek property investment immigration program, investors who purchase properties starting from 250,000 euros not only acquire permanent property rights in Greece and participate in the Greek investment market, but can also apply for permanent residence visas for three generations of their family, allowing them to travel freely across 26 Schengen countries—a move with multiple benefits.
As one of the earliest immigration agencies to promote the Greek property investment immigration program in China, WorldWay Group, in collaboration with powerful Greek developers, introduces another major property project—Athens Full Sea View Rooftop Garden Apartments. Purchase now to enjoy significant discounts!
Project Overview: Athens Full Sea View Rooftop Garden Apartments
Project Type: Apartment
Layout: 2-bedroom
Price: Starting from 299,000 euros
Project Highlights: Excellent location with convenient transportation; rich surrounding educational resources; complete supporting facilities, including a public swimming pool and a rooftop garden with sea views; purchase discounts available; complies with the Greek property investment immigration law, allowing the whole family of three generations to apply for Greek permanent residence visas.
The project offers 8 two-bedroom apartments, featuring a communal swimming pool and a rooftop garden with full sea views, providing residents with a high-quality living experience. Residents have access to private outdoor spaces within each apartment, the shared rooftop garden, and the communal swimming pool located on the ground floor. Residents on the top floor can enjoy sea views from their private rooftops and have the option to install a jacuzzi for relaxation.
Superior Location
The project is located in Glyfada, a coastal city in southern Athens, known for its beautiful beaches, Michelin-starred restaurants, and various shops. The project is adjacent to various public, private, and international schools, offering educational choices from kindergarten to university. The project is close to the subway station, making transportation very convenient.
The Metropolitan Park project next to the site is a brand-new key infrastructure development. It will be a 2,000,000-square-meter metropolitan park aimed at the sustainable development of the coastal area, and it may become one of the largest urban infrastructure projects in Europe in the coming years. The "green" and "smart" design of the Metropolitan Park will significantly improve the living standards of Athens residents while providing a variety of services and facilities. The Metropolitan Park project will include a wide range of residential communities, hotels, shopping centers, museums, cultural and family entertainment venues, health and wellness centers, sports and recreational spaces, and modern business parks that combine education and R&D. These facilities will complement the existing marina and enhance the development of the coastal area.
Project Renderings
WorldWay is one of the earliest immigration agencies to promote the Greek property investment immigration program in China
In 2013, we partnered with the Greek Embassy in China to hold the launch ceremony for the "Greek Property Investment Immigration" program in China, introducing this project to the Chinese market;
WorldWay Group executives have met with dozens of dignitaries, including the Greek Ambassador to China, commercial ministers, consuls, and immigration officials.
Great news! To thank our new and old clients for their continued trust and support, as we approach the end of 2019, WorldWay is launching a "Year-End Mega Sale, Giving Back to Clients" promotion. From December 1st to 31st, 2019, there will be many activities, discounts, and surprises. We welcome all new and old clients to participate and seize the opportunity! For more details, please call: 400-138-2929.
Some materials in this article are sourced from the internet, and the copyright belongs to the original author. If there are any copyright issues, please contact us. Property images are for reference only; actual delivery shall prevail.