Greece announced on Friday that it would again raise the golden visa investment threshold from €500,000 to €800,000 in popular regions.

“What we are discussing with the Ministry of Finance is a further increase in the limit,” said Prime Minister Kyriakos Mitsotakis. “I'm talking about urban centers and islands; there the limit on a golden visa can be as high as €800,000.”

This is the latest update to the minimum investment amount, which was increased last August in popular areas from €250,000 to €500,000. The Prime Minister said that for areas not experiencing housing pressure, such as Pella and Kozani, the amount will remain at 250,000 euros.

The Greek government is trying to solve an acute nationwide housing problem. According to local media Neos Kosmos, a large number of Greek houses are only available for short-term rentals, which is leading to an increase in rental rates and purchase prices.

In addition to raising the minimum investment amount, the government is also considering changing the requirements for Those who want to apply for a golden visa should only enter into long-term rental agreements.

Source: travelnews.co.za

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