Did you know that a residence permit is guaranteed for investors in Greece? Yes, this seems to be the Greek government’s latest stunt to improve and encourage real estate. A wonderful land. Cradle of an ancient culture, a meeting place for many people. In short, defining Greece is really complex. Despite the crisis and the exit from Europe, this nation does not demorde. So much so that, with the guarantee of obtaining a residence permit for investors in Greece, new horizons are opened.
In fact, many investors have taken advantage of the opportunity.
But who were the main investors? What are the actual numbers of this innovative action? Will it continue over time?
To answer these questions, we decided to create an ad hoc guide, focused precisely on this topic. Together we will find out what the current situation in Greece is and how it is articulated in the real estate market.
Let’s start with a flashback on the history that has characterized Greece in recent years. 2013 marks an important year for Greece. It’s a turning point year. In 2013, in fact, it was possible to obtain a residence permit for those investing in Greece. From this moment on, the results were not long in coming. As many as 500 million euros of capital have been invested in the Greek real estate.
But who were the main investors?
Among the world’s leading nations, the main investors come from China, Russia and Turkey. Eastern Europe is therefore distinguished in this situation so advantageous for potential investors.
The Chinese seem to be the most affected population. In the last six years, more than 4,000 Chinese citizens (because they are new citizens) have invested in Athens and its surroundings. Obviously obtaining Greek citizenship. How much has been invested? A total of 250,000 euros!
The Chinese, however, in addition to distinguishing themselves from other populations, as more generous, are expanding significantly throughout the peninsula.
Only in Piraeus, in 2008 the logistics monster Cosco took over two terminals, three in 2016. The objectives are to transform the peninsula into a real bridge between Europe and Asia.
Despite the fact that Greece has left the European Union, the European Union has decided to further improve the practice of obtaining citizenship. How? By streamlining the bureaucratic process.
In this way, it will be possible to improve the Greek economy, but also the European economy (as a result).
What can I say, it seems that with a ”simple” initiative, it has been possible to relaunch the Greek real estate market. It is hoped that this change will last over time, to ensure not only Greece, but also the real estate world, to remain economically active.
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Read also: Property for sale in Greece
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