Greece’s Golden Visa program has long been a key driver of foreign investment in
the country’s real estate market. However, recent regulatory changes are reshaping
the landscape, particularly in high-demand areas like Athens. This article explores
the evolving impact of these changes and how upcoming infrastructure projects are
expected to influence property values and investment opportunities.
Golden Visa Reforms: What Has Changed?
The Greek government has introduced amendments to the Golden Visa program,
raising the minimum investment threshold in certain prime locations. In key districts
of Athens, as well as in Thessaloniki, Mykonos, and Santorini, the minimum
investment for real estate purchases has increased significantly. The goal is to
regulate property speculation, ensure sustainable urban development, and open
more opportunities for local buyers.
While these changes may slow down speculative foreign purchases, they could lead
to a more stable and diversified real estate market. Investors seeking long-term
value may now look beyond the most popular areas to emerging neighborhoods
where prices are still competitive and future growth is anticipated.
Infrastructure Developments Driving Real Estate Growth
Alongside policy changes, ongoing and planned infrastructure projects in Athens are
set to reshape investment trends in the real estate sector. Key developments
include:
● Expansion of the Athens Metro: The construction of Line 4 is set to improve
connectivity in central and northern Athens, enhancing accessibility and
increasing property demand in previously underdeveloped districts.
● New Urban Developments: Projects such as the regeneration of Eleonas and
the expansion of the Athens Riviera are expected to create new commercial
and residential hubs, attracting investors seeking growth potential.
● Upgrades to Public Facilities: Investments in public spaces, hospitals, and
schools are elevating the quality of life in suburban areas, making them more
appealing for property buyers and long-term residents.
Investment Outlook: Where Are the Opportunities?
Despite the Golden Visa reforms, Greece remains an attractive destination for real
estate investment. Investors are now turning to areas with high growth potential,
such as:
● Peripheral Districts of Athens: With infrastructure improvements enhancing
accessibility, neighborhoods outside the city center are becoming prime
targets for investment.
● Secondary Cities: Thessaloniki, Patras, and Crete are gaining traction due to
more affordable property prices and increasing demand for high-quality living
spaces.
● Commercial and Mixed-Use Properties: As urban areas develop, mixed-use
spaces that integrate residential, retail, and office spaces are emerging as
attractive investment options.
Conclusion
The adjustments to the Golden Visa program, coupled with major infrastructure
advancements, signal a shift in Greece’s real estate dynamics. While prime areas in
Athens may see a slowdown in speculative investment, emerging districts and new
developments present fresh opportunities for long-term investors. As the city’s
landscape continues to evolve, staying ahead of these trends will be crucial for
making informed and strategic real estate investments.