Recently, the leader of Greece's second-largest political party stated in a television interview that young people in Athens and other major cities are facing housing issues due to unaffordable property prices, and he urged for the "abolition of the Golden Visa policy."
In April 2013, Greece officially launched the policy of "granting EU residency to foreigners who purchase property." This year marks the tenth anniversary of the Greek Golden Visa program. Although this policy has brought significant revenue to the Greek government, it has faced increasing pressure over the past two years. The reasons for this are related to the urgent need for Greek authorities to alleviate high housing prices and rents, as well as the negative attitude of the European Union toward "Golden Visas." The leader of Greece's second-largest political party recently stated that controlling housing costs is a priority for PASOK and that they will push for the abolition of the Greek "Golden Visa."
In fact, since the beginning of this year, immigration programs across various European countries have undergone successive changes.
◆ On February 14, 2023, the Irish Department of Justice announced that the Immigrant Investor Programme (IIP) would be closed effective February 15, 2023;
◆ Effective August 1, 2023, Greece officially implemented a policy doubling the investment threshold from 250,000 euros to 500,000 euros in certain regions nationwide;
◆ On October 6, 2023, the Official Gazette of the Portuguese Republic published a new housing bill. Effective October 7, the real estate investment option under the Portuguese Golden Residence Visa policy was terminated, and no new applications for real estate-based immigration are being accepted. The 11-year era of Portuguese real estate immigration has officially come to an end.
In addition, Spain has also proposed the cancellation of its Golden Residence immigration bill. Meanwhile, the debate over the abolition of "Immigrant Investor Programs" or "Golden Passport Programs" in Europe has been ongoing. Recently, the European Parliament has proposed shutting down investment immigration policies by 2025.
Looking at the policy evolution of traditional immigration countries, tightening measures is an inevitable trend. Investment immigration policies in many European countries have been affected, with some seeing price increases, others tightening, and some even being shut down. For the sake of security, it is recommended that prospective immigrant investors seize the opportunity and apply as early as possible! Today, the Greek investment immigration program, which is highly favored by investors, could also be halted at any time; the opportunity for immigration cannot afford to be delayed. For investors, this is currently a good time to immigrate to Greece, and perhaps the last opportunity.
Since August 1, Greece has officially implemented a policy doubling the investment threshold from 250,000 euros to 500,000 euros in certain regions! According to the amendment, other areas such as East Attica, West Attica, and Piraeus will maintain the 250,000 euro policy, and it will continue to be permitted to reach the threshold through a portfolio of multiple properties. For investors, this can be considered a new opportunity following the price increase in Greek real estate immigration. Investors who choose to purchase properties starting from 250,000 euros in non-price-increase areas can apply for Greek permanent residency for three generations of their family, which remains a cost-effective choice.
The two key elements of immigration are timing and choice! As one of the few programs in the current immigration market that can quickly obtain a green card for an EU country, Greek real estate immigration is a very cost-effective immigration program among European countries. This program has relaxed application conditions, with no requirements for education, language, management experience, or residency. Furthermore, it allows the entire family of three generations to apply for Greek permanent residency, enables the whole family to travel freely through 27 Schengen countries, and allows access to Greek social welfare benefits such as education and healthcare. Additionally, after meeting the requirements, one can apply for an EU passport, while also acquiring property with permanent ownership—there are many advantages!
For those who want to immigrate to Greece, choosing properties in non-price-increase areas such as Piraeus is currently a good option. Moreover, property prices in this area are still relatively stable. According to the latest Greek real estate data, property sales prices in Piraeus increased quarter-on-quarter in the second quarter, which is basically on par with core areas. Among them, the Port of Piraeus (i.e., Piraeus Port) in the city of Piraeus, which is adjacent to the area where the policy changed, is expected to become a popular choice for investors!
Piraeus Port is the largest port in Greece and one of the top 50 container ports in the world, as well as the largest container port in the Eastern Mediterranean region. The entire Piraeus Port area is equipped with complete supporting facilities, including large supermarkets, subways, outlets, Chinese restaurants, shops, freight services, yacht marinas, theaters, stadiums, and other living facilities. It has beautiful scenery and a prosperous economy. The development of the Piraeus Port area is advancing by leaps and bounds, and surrounding property prices have become one of the fastest-appreciating areas in Greece. Future appreciation and development hold unlimited potential. Whether for investment or self-occupation, it is a very good choice! The minimum investment threshold in the Piraeus Port area is only 250,000 euros, allowing three generations of a family to obtain a high-value status!
Another heavyweight Greek real estate immigration project, "Greek Piraeus Port Apartments," grandly introduced to investors by Worldway in collaboration with powerful Greek developers, has made a stunning debut. It is a high-quality property located in the Piraeus Port area, which is within the non-price-increase zone. The project has a superior geographical location, situated in the Athens coastal promenade area, adjacent to the Mediterranean's largest port, Piraeus Port. The project has a well-developed transportation network, close to 3 newly opened subway stations, and is within walking distance to numerous bus stops, making it convenient to take multiple lines to reach all parts of Athens, enjoying the convenience of commuting. The project has complete supporting facilities, with large shopping centers, famous tourist attractions, stadiums, hospitals, international schools, etc., in the surrounding area, enjoying the convenience of life. The project has an active rental market, located in a popular area for long-term and summer tourist rentals, with broad development prospects. The project is meticulously crafted by a top London architectural design team, adopting modern luxury design and spacious balconies. The top floor overlooks the Piraeus Port landscape, and every unit comes with a private garden/balcony/terrace, suitable for both investment and self-occupation. The project meets the requirements of the Greek Golden Visa Act, with property purchases starting from 250,000 euros, allowing the whole family to obtain Greek permanent residency status in one step.
As everyone knows, immigration is a long and complex process. After investors and their families obtain citizenship through immigration, they will have inextricable ties with the country for life. Many aspects related to a citizen's life and career may require government assistance and the issuance of valid supporting documents. All these matters require the assistance of an intermediary agency that has a good relationship with the government. It can be said that Worldway is a reassuring choice for investors immigrating to Greece.
In July 2013, Worldway Group, in collaboration with the Greek Embassy in China, held the "Greek Real Estate Immigration" launch ceremony in China, introducing the Greek real estate immigration project to China. Since then, the country of ancient Greek civilization has opened its arms to accommodate new Chinese immigrants, which also marks the official start of Chinese investors establishing a "second home" in Greece! Today is 2023, and the Greek real estate immigration project's landing in China has reached a major milestone of ten years, which is of great significance.
Over the past decade, Worldway Group has maintained good interaction with the Greek government. Senior executives of Worldway Group have met with dozens of dignitaries, including the Greek Ambassador to China, commercial ministers, consuls, and immigration officials.
After the price increase of Greek real estate immigration, properties in non-price-increase areas may become highly sought after. Those who are interested in immigrating to Greece can 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 the Worldway service hotline. Mainland China: 400-138-2929, Hong Kong, China: (852) 2802 8798
