Property for Golden Visa in Greece: Four Factors To Consider Before Choosing
Whether you’re looking for an investment or a place to live, Greece’s real estate market has a variety of housing options to suit your needs. The country offers a wide range of options, from residential apartments in Athens to luxury villas on famous Greek islands.
One other reason why Greece real estate market is attractive is the Golden Visa scheme. If you buy real estate for a minimum of €250,000, you can be eligible for a Greek Golden Visa, which translates as residency in Greece.
Although the Golden Visa process is very straightforward, there are some important things to consider when you’re choosing real estate that qualifies for Greece Golden Visa. In this article, I’m going to highlight what you should check and how you can make a successful real estate investment in Greece.
Four Factors To Consider Before Choosing Your Greece Golden Visa Property
Renovation
If you’re looking to buy a home in Greece, whether in Athens or on the islands, keep in mind that the majority of the houses you’ll view are going to be old. Even if some are being renovated, you should inquire about the renovation’s extension. In some cases, it’s possible that renovation was just cosmetic. You should also check if the infrastructure has been taken care of. Make sure you get clear answers to these questions because they could end up costing you a lot of money after the purchase. If renovation is required, you’ll also need to find a reliable contractor.
If the house you’re going to buy needs renovation, this will not be counted toward the €250,000 investment threshold for the Golden Visa. This means you’ll need to set aside extra funds for renovation. When you’re refining your search, keep this in mind.
Ownership and Legal Registration
It’s likely that the Greek property you’re about to purchase was inherited and has many owners. Before you commit, try to find out who the owners are. Confusion might delay the title deed process which will also affect your Golden Visa application. Read More…
