"The Golden Visa of Piraeus: a popular center for foreign investments in Greece."

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The place above the passage, Piraeus, - the southern gateway to Europe.An ancient port city located 8 km from Athens. Strategically situated on the southern coast of the Mediterranean Sea, bordering the Balkan Peninsula to the north, Piraeus is one of the closest ports in Europe to the main shipping routes of the Suez Canal and Gibraltar. With railway connections to Central and Eastern Europe, this port holds a prime position among all Mediterranean harbors. If you are considering the Greek golden visa program, it is important to familiarize yourself with Piraeus and everything it has to offer, including lower prices, making it an ideal destination for investment in the capital.

On July 31, popular areas for the golden visa in Greece will increase the investment amount from €250,000 to €500,000.

The price increase will affect the areas of Northern, Southern, and Central Athens, Mykonos, Santorini, and the municipalities of Thessaloniki and Vari. Among the areas that are not included in this equation is the Municipality of Piraeus in Greater Athens.

Piraeus: Golden Age, Decline, Revitalization

This historic city has its roots in the 5th century BC, when its port was founded. It controlled all imports and trade with Athens. Then, as a shipyard, it was home to around 372 shipbuilding yards. However, it began to decline around the 3rd century BC and was not fully revived until the 19th century. Even then, neither the city nor the port ever reached their full potential. Now, the history of Piraeus is on the rise along with the Greek economy as a whole. The city is experiencing a renaissance thanks to local and foreign investments. In 2021, the port of Piraeus recorded the highest profits in its history, over $40 million after taxes. In October 2022, a new metro line was opened in the center of Piraeus, providing greater access to the rest of Athens. Travelers can reach Athens Airport from Piraeus in just 35 minutes. Along with the implementation of the metro, an eco-friendly approach was introduced with electric railway stations (ISAP) and trams, significantly reducing traffic and cutting carbon emissions by 120 tons per day, according to Greek Reporter. This also enhances the connectivity of the major port city with the rest of Greece and the world. Eye-catching buildings are being renovated and used in innovative ways. An old tobacco factory is being transformed into a chic office complex. Architectural plans that did not take off in the 90s are coming to life. The American company Hines is renovating a huge shopping center on Piraeus Street. The historic port is being transformed and becoming a new reality. The reflections of this are already starting to show in the housing market. Prices are already beginning to rise by about 12% per square meter as investments flow into Piraeus. Investors who have turned their attention to Athens through the Greek golden visa can significantly benefit by investing in Piraeus at a lower price. It seems promising for profit as the ancient city develops.

The "Belt and Road" initiative from 2008

After the devastating financial crisis of 2008, during which Greece was at its peak, Piraeus was left in ruins. Residents fled to other countries for work, and the port operated at minimal capacity. At this moment, the Chinese company COSCO stepped in to save the port city. By striking a deal and now owning 67% of the shares in the Piraeus Port Authority, COSCO helped to rescue, sustainably develop, and ultimately reimagine the ports. The original vision was, and still is, to make Piraeus the largest port in Europe and one of the most important in the world in terms of ecology, digital technology, public engagement, and management. Now, three terminals of the port have been modernized and have made significant progress: Pier 1 - container terminal, Pier 2 - car terminal, Pier 3 - cruise terminal. Each terminal is experiencing annual growth. Although the locals were initially very skeptical about the Chinese intervention, fearing its consequences, they received a boost in job creation and economic activity, which positively impacted the local economy.

Invest in Piraeus. Greece is the perfect place for investors and startups!

Investment projects are flourishing in promising areas such as Piraeus and throughout Greece.

• Delta Condos: luxurious apartments in Athens that meet all the requirements for real estate to obtain a golden visa in Greece. Real estate with a golden visa is available from €75,000 to €220,000. Luxurious apartments in the Neo Faliro area of Athens. Good connectivity to the Piraeus area via trams and buses. Neo Faliro is also the gateway to the breathtaking Athens Riviera. Close to the center of Athens without the hustle and bustle of the city. A calm, cosmopolitan atmosphere with island charm. The complex consists of 19 high-end fully serviced apartments. Units range from studios to two-bedroom apartments, sized from 16 to 62 square meters. Fully equipped with high-end plumbing, luxurious furniture, and appliances. The monthly income generated from these units varies in size, with expected monthly rents ranging from €250 to €750. Recent data indicates that the income from serviced apartments exceeds that of typical rental purchases. This ready-to-use investment project will be completed in 2023.
• State of Innovation: The goal of this development project is to revitalize the area of 17,893 square meters along Piraeus Street, which has been abandoned for several years - the old CHROPEI warehouses - and transform it into a thriving natural space dedicated to innovation. This new center will support research and development divisions of businesses, startups, researchers, and the academic community, while also fostering synergy among them to invigorate creativity and entrepreneurship!

Other developing areas in Greece

A new decade is approaching for Greece, and previously undervalued and unexplored areas are starting to thrive. Here is a list of the most promising regions in Greece attracting investments:

• Peloponnese, known as the Hamptons of Greece, is an area where wealthy Greeks reside. In recent years, it has started to transform into a tourist destination. According to Forbes magazine, Porto Heli in Peloponnese is a prosperous haven for the mega-rich, celebrities, and royalty. So, while it remains a secret, this most promising Greek region is receiving its share of wealth flowing into its areas. Besides being a retreat for the affluent, it boasts an abundance of charm, from local gourmet dishes served in cafes to the small castle town of Monemvasia.
• Crete is the cradle of European civilization. The most well-known Greek island (and the largest), tourism and industry thrive on Crete. It is a place where digital nomads and remote workers love to work, as the island has its own atmosphere and offers everything needed—from magnificent beaches to exceptional hiking trails. Nomads feel most productive here, away from the hustle and bustle of Athens or the parties in Mykonos. Crete offers a peaceful lifestyle, full of nature, good vibes, and reliable internet.
• Rhodes is a medieval island. It attracts wealthy tourists and gamblers - there is a casino in Rhodes. This is a promising place that draws those seeking a luxurious lifestyle with high-end resorts. Over the past decade, Rhodes has been regaining popularity as a destination for luxury real estate. The properties here are different from the rest of Greece. It is a favorite spot for foreign investors looking for a second home. It is also easily accessible by ferry or flight from the capital, Athens.

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