Recently, Portugal and Spain have issued signals of changes in their real estate immigration policies, and Greece has not been spared. According to reports, the threshold for Greece's 250,000 euro real estate immigration will be raised, with the investment amount increasing from 250,000 euros to 500,000 euros, and there will also be restrictions on the areas where properties can be purchased! Transactions for properties in popular areas such as Athens and Santorini will be restricted. If the new policy is implemented, investors wishing to obtain permanent residency in Greece through property purchases will have to spend 500,000 euros to buy properties in economically underdeveloped remote areas.

Old Policy:As long as you buy a property in Greece for no less than 250,000 euros, there are no restrictions on the area.

New Policy:

1. The property investment amount is raised to 500,000 euros, which is a full doubling;

2. New policy: Transactions for properties in popular areas such as Athens and Santorini are restricted, and properties costing no less than 500,000 euros can only be invested in economically underdeveloped remote areas.

 The new policy is expected to be implemented in August 2020., most funds are still in the domestic applicants need to apply before March 15, 2020.

   With the policy change imminent, what services can Global Immigration provide for applicants?Global Immigration can provide applicants with a video domestic property selection model, allowing applicants to choose their desired property without leaving home.

Domestic Property Selection Model

Due to the impact of the pandemic, the Greek embassy is still closed, and the time for landing and commercial property selection has already run out. If you want to lock in the old policy, please choose the domestic property selection model. The process is as follows:

1. Sign the contract; (to be completed by March 15, 2020) (clients with no less than 250,000 euros in overseas funds to be completed by April 10, 2020)

2. Domestic video property selection, pay the deposit, sign the pre-purchase agreement; (to be completed by March 31, 2020)

3. Sign the lawyer's power of attorney (POA) at the Greek consulate in China;

4. The lawyer reviews the property, and the client pays the property price; (to be completed by April 30, 2020)

5. Pay off the property price, the lawyer assists in the property transfer, and the client cooperates in preparing immigration documents; (to be completed by June 30, 2020)

6. Property transfer is completed, and appointment for submission time;

7. Handle visa according to fingerprint recording time;

8. Obtain visa, purchase tickets, and book hotels; (to be completed by July 20, 2020)

9. Land in Greece to submit immigration documents and record fingerprints; (to be completed by July 31, 2020)

10. Return to China and wait for the issuance of the permanent residency card.

Data statistics show that after a significant drop following the financial crisis, Greek housing prices remained stable from 2009 to 2014, then saw a slight increase in early 2015, and exhibited rapid growth in 2018. In 2019, Greek housing prices began to rise sharply, reaching the highest growth rate in 12 years!

In the first quarter of 2019, housing prices increased by 5.3% year-on-year, rising to 7.7% in the second quarter. From January to September, the average growth rate of Greek real estate prices was 7.4%, with Athens breaking into double digits at 10.3%. In 2018, the annual average growth rate of housing prices in the country was less than 2%. Among them, the price increase of new houses under 5 years old was greater than that of old houses over 5 years old, with the former increasing by 2.9% year-on-year and the latter by 2.2%.

Currently, the demand for Greek real estate from China remains very high and is close to historical highs. The New York Times interviewed the CEO of a real estate platform regarding the Greek golden visa.

Luo Xuexin stated, "In 2019, the number of inquiries from Chinese buyers decreased compared to previous years, but it is still close to historical highs. We expect strong demand to continue throughout 2020. Chinese people feel very confident about going to Greece because large state-owned enterprises, including China COSCO Shipping Group, have already invested in Greece."

Advantages of Greek Real Estate Immigration

1. Simple application requirements: no background check, no medical examination, no criminal record required, just need to be over 18 years old and purchase a property worth over 250,000 euros.

2. High cost performance: one person invests, three generations immigrate, no requirements for accompanying parents;

3. Low investment amount: only 250,000 euros to purchase a property and directly obtain Greek permanent residency;

4. No residency requirements: no residency requirements after obtaining permanent residency;

5. After obtaining Greek permanent residency, you can travel freely to 26 Schengen countries.

Application Conditions for Greek Real Estate Immigration

1. The main applicant must be at least 18 years old;

2. Purchase a property in Greece worth over 250,000 euros;

3. No criminal record.

Accompanying persons for the first application:The spouse of the main applicant, children under 21, and both parents;

Spouse requirements:The legal spouse of the main applicant who holds the property, must provide a marriage certificate;

Children requirements:Can bring children under 21, no need to be enrolled in school, and no requirement to be unmarried;

Note: Based on the time of application submission, calculated according to the date of birth on the passport; biological children or non-biological children with complete adoption procedures under the custody of the main applicant or spouse, if the child is over 18 years old, it is recommended to make them the main applicant directly.

Both parents' requirements: no economic dependency, no age limit, as long as they are biological parents from the original family.

Buying property in Greece, choose Global Immigration.

1. Global Immigration has been handling Greek real estate immigration for clients since the Greek property purchase law was announced in 2013, with over a hundred successful cases to date.

2. Global Immigration is the only company in the market that allows clients to choose properties independently throughout the country, with no binding sources and transparent property prices.

3. Global Immigration works closely with multiple local lawyers, providing clients with professional one-stop services.

4. The global product line is rich, with follow-up projects such as renewals and family reunification to meet customer needs, and there have been multiple successful cases of renewals to date.

5. Global maintains close contact with Greek government departments, and Greek government officials visit Global every year to stay updated on policies, ensuring a worry-free identity.

6. Global has a professional reception team in Greece that provides integrated accompanying services during client business visits.

Global Overseas has a complete project system and a professional team to customize comprehensive overseas planning solutions: including immigration planning, overseas investment and financial management, children's education planning, overseas property planning, and overseas settlement services, providing professional full-line products and services. Global Overseas can not only help you achieve your dream of purchasing property for immigration in Greece but can also provideGreek family reunification immigration, Greek personal bank account openingand other projects, allowing you to immigrate without worries!