** Foreign Investments in Greek Real Estate Increase Significantly due to the Golden Visa Program.

Interest of third country nationals in obtaining residency permits in Greece through the Golden Visa program has significantly contributed to the increase of foreign investments in real estate of the Hellenic Republic last year. According to data from the Bank of Greece on foreign inflows, out of the total amount registered last year of1.97 billion euros, the most significant growth was noted from countries outside the bloc, reported SchengenVisaInfo.com..

** A total of1.26 billion euros was attracted to the country from third-country nationals, representing a100% overall increase compared to2021 when investments did not exceed628 million euros. Additionally, Ekathimerini's report shows that investments from Eurozone countries have also significantly increased. Last year, Greece attracted590 million euros from Eurozone countries, which is25% more than in2021 when it was473 million euros. There was also an overall growth of49% to106 million euros through investments from other EU countries, led by Bulgaria with a total investment amount of53 million euros compared to31 million in2021.

According to data from the Ministry of Migration Policy, a total of4,363 applications for residence permits were filed in the country last year. Considering that the minimum investment amount is250,000 euros, these figures indicate that1.09 billion euros was attracted to the Hellenic Republic, and the inflow from third-country nationals increased to1.26 billion euros.

Data from the Bank of Greece also shows that interest in purchasing from Chinese citizens has not yet returned to pre-pandemic levels. The same source indicates that the influx from Hong Kong increased by 254 percent last year, reaching a total of 294 million euros.

The Golden Visa program in Greece allows citizens of third countries to obtain residency in the country by investing financial resources in the territory and meeting the necessary requirements. The investment-based residency program in Greece is currently one of the most popular in Europe. Last month, Leptos Estates announced a sharp increase in sales and inquiries for real estate purchases in the Hellenic Republic from citizens of countries in the Middle East and North Africa (MAGHREB).