22/03/24

New Regulations for Golden Visa Program: Minimum Property Size Set and Airbnb Restrictions Enforced - Building Legislation

New Regulations for Golden Visa Program: Minimum Property Size Set and Airbnb Restrictions Enforced - Building Legislation

The Greek government, through statements made by Minister of National Economy and Finance, Kostis Hatzidakis, has announced significant changes to the Golden Visa program, aiming to regulate the real estate market more tightly. These adjustments would set a minimum required property size of 120 square meters for Golden Visa eligibility, concurrently prohibiting these properties from being offered for short-term rentals, such as Airbnb. This move reflects the government's effort to direct investment towards higher-value real estate, steering clear of impacting the affordable housing market crucial for local residents and new families. Additionally, the investment threshold for obtaining a Golden Visa in urban centers like Athens, Thessaloniki, and popular Aegean islands will increase to 800,000 euros, up from the current 500,000 euros. These measures come in response to rising property prices in Greece, significantly influenced by the surge in short-term rental demand, and aim to balance investment benefits with housing affordability for Greek citizens.

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