Recently, the credit rating agency "Rating and Investment Information, Inc." announced that it has upgraded Greece's economic credit rating to investment grade BBB-, with a stable outlook.
The agency previously rated Greece as BB+, with a stable outlook. This upgrade is seen as a precursor to other international rating agencies elevating Greece to investment grade. This year, major rating agencies have expressed optimism about Greece's development, and several financial institutions have made forecasts in a series of reports regarding Greece's economy and the timeline for restoring investment grade, expecting Greece to maintain an economic uptrend and a promising economic outlook.
In this report, the agency listed six reasons behind the decision to upgrade Greece:
1. The New Democracy Party achieved a significant victory in the June elections, ensuring the continuity of policies to revitalize the Greek economy and restructure public finances;
2. Greece's economic growth exceeded the eurozone average in 2022, and it is expected that Greece's economy will continue to grow robustly this year;
3. Improvement in fiscal balance;
4. Further reduction in the public debt-to-GDP ratio;
5. Non-Performing Exposure (NPE) has declined to single-digit levels;
6. Additional funding support will come from the "REPowerEU" European energy plan in the future.
The agency stated that despite the uncertainties in the European economic environment, Greece's economy will continue to develop steadily. In addition to the above factors, it also considered that Greece's financial sector will further stabilize, thus upgrading Greece's local and foreign currency issuer ratings to BBB-, with a stable outlook.
Greece's economic recovery is robust; 2023 is indeed a great time for investment. For immigration investors, making decisive choices now is crucial. From August 1, Greece's Golden Visa program officially implemented a doubling of investment thresholds in certain areas from €250,000 to €500,000! According to the amendment, areas including Eastern and Western Attica in Greece, as well as Piraeus, will maintain the €250,000 policy, and will continue to allow for investment portfolios through the purchase of multiple properties to reach the threshold. For investors, this presents a new opportunity for real estate immigration to Greece following the price increase. Choosing to purchase property starting from €250,000 in non-price increase areas allows three generations of a family to apply for a Greek permanent residence visa, which still offers great value.
When purchasing property in Greece, investors not only acquire permanent ownership but also enjoy the chance for three generations to obtain Greek permanent residency status in one step, and travel freely across 27 Schengen countries. For families with educational needs, immigrating to Greece enables children to advance more smoothly in their educational journey. Families choosing the international education route can opt for high-quality international schools in Greece; families favoring domestic education can have their children participate in the overseas Chinese students' examination and easily gain admission to top-tier universities like 985 and 211, benefiting from mainland education! At the same time, immigrating to Greece also allows for access to Greek education, healthcare, and other social welfare benefits, and, upon meeting conditions, the opportunity to apply for an EU passport, achieving multiple benefits in one go!
For those looking to immigrate to Greece, choosing properties in non-price increase areas such as Piraeus is a good option, and property prices in this region are currently quite stable. According to the latest Greek real estate data, property prices in Piraeus in the second quarter grew on a month-over-month basis, comparable to core areas. Among them, the port of Piraeus, adjacent to the changing political region, is expected to become a popular choice for investors!
Piraeus is the largest port in Greece and one of the top 50 container ports globally, as well as the largest container port in the Eastern Mediterranean. The entire Piraeus area is equipped with comprehensive facilities, including large supermarkets, subways, outlets, Chinese restaurants, shops, freight services, yacht marinas, theaters, and sports arenas, boasting beautiful scenery and a thriving economy. The development in the Piraeus region is advancing rapidly, and surrounding property prices once became one of the fastest appreciating areas in Greece, with infinite potential for future appreciation. Whether for investment or personal use, it is a very good choice! The minimum investment threshold in the Piraeus region is only €250,000, allowing three generations to obtain high-value identities!
In collaboration with credible Greek developers, WorldWay proudly presents another significant Greek real estate immigration project, the "Piraeus Sea View Apartments," located in Piraeus within the non-price increase region. This project boasts a prime location in the coastal corridor of Athens, just a few minutes' drive from the largest port in the Mediterranean, the Port of Piraeus; it has convenient transportation, with proximity to metro stations, airports, and piers; the community is well-developed, picturesque, and essential daily facilities are within walking distance; this hotspot area has strong rental demand, numerous shipping companies nearby, and customs institutions with high-level corporate executives renting here; its development prospects are broad.
It is well known that immigration is a long and complex process; once investors and their families acquire citizenship, they will have a lifelong connection with the country, and many aspects of citizens' lives and careers may require assistance from the government in providing valid documents. These matters rely on intermediaries that have good relationships with the government. It can be said that WorldWay is a trustworthy choice for investors immigrating to Greece.
In July 2013, WorldWay Group, in collaboration with the Greek Embassy in China, held the launch ceremony for "Greek Real Estate Immigration" in China, introducing the Greek real estate immigration project to the Chinese market. Since then, the country of ancient Greek civilization has opened its arms to welcome new immigrants from China, marking the official beginning of Chinese investors establishing a "Second Home" in Greece! Now, in 2023, the Greek real estate immigration project marks a significant milestone as it celebrates its tenth anniversary in China, which is immensely meaningful.
Over the past decade, WorldWay Group has maintained good interaction with the Greek government, with senior management meeting dozens of dignitaries, including the Greek Ambassador to China, Commercial Minister, Consul, and officials from the immigration bureau.
After the price increase in Greece's real estate immigration, properties in non-price increase areas may become hot commodities. Those interested in immigrating to Greece are encouraged to contact WorldWay as soon as possible, as high-quality properties are in short supply.
For more details, please send us a private message in the comment section or call WorldWay's customer service hotline: Mainland China: 400-138-2929, Hong Kong: (852) 2802 8798
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