| Real Estate for Golden Visa in Greece: Four Factors Before Choosing | Get Golden Visa |

If you are looking for an investment or a place to live, the Greek real estate market offers a variety of housing options, from apartments in Athens to luxury villas on the famous Greek islands. One of the reasons why the Greek real estate market is attractive is the Golden Visa program. If you purchase a property worth at least 250,000 euros, you can qualify for a Greek Golden Visa, which grants the right to reside in Greece. While the Golden Visa process is fairly straightforward, there are a few important points to consider when choosing a property suitable for Greece's Golden Visa. In this article I will detail what to look out for and how to make a successful real estate investment in Greece.

From August 1, 2023, the minimum investment amount required to obtain a Greek Golden Visa will double to 500,000 euros in certain regions such as the Hellenic Region of Athens, the islands of Santorini and Mykonos, and the Municipality of Thessaloniki. Those who pay a deposit of 10 percent of the property's value by July 31, 2023 will be able to benefit from the €250,000 plan if they complete the investment by December 31, 2023.

Four factors to consider before choosing a property for Greece's Golden Visa:

• Remodeling: If you are planning to buy a house in Greece, whether in Athens or on the islands, keep in mind that most of the houses you will see will be old. Even if some are in the process of being repaired, clarify exactly what type of repair was performed. In some cases, it may only be a cosmetic repair. Also check out the infrastructure situation. Get clear answers to these questions as they could end up costing you a lot of money after the purchase. If repairs are required, you will also need to find a reliable contractor. If the house you intend to buy needs renovation, these costs do not count towards the €250,000 investment threshold for the Golden Visa. This means that you will need to set aside additional funds for repairs. Take this into account when looking for real estate.
• Property and Legal Registration: The property you are considering buying in Greece has probably been inherited and has several owners. Before making a decision, try to find out who the owners are. Confusion can delay the titling process, which will also affect your Golden Visa application. Please note that some houses in Greece, especially on the islands, may not be officially registered in ownership.