The British are taking advantage of Greece’s Golden Visa program securing their right to free movement in the European Union, four years after the Brexit.
According to the data from the Ministry of Migration Policy, during the period from January to November 2023, the permits granted to investors from the United Kingdom increased by 77.8%, rising from 208 to 370.
Contrary to their previous preference for luxury homes of over 500,000 euros, now the Brits are rushing to buy a second home in Greece, with the threshold of 250,000 euros, to obtain the desired “golden” residence permit.
As reported the most popular regions for British buyers are Crete, Kefalonia, and Corfu.
Furthermore, as revealed by a survey conducted by Geoxis, which focuses on summer residences on the islands of Mykonos, Paros, Santorini, Serifos, and Kea the luxury real estate market is estimated to account for approximately 5%-15% of the total market share, depending on the island. It primarily targets buyers from outside Greece who, in search of distinctive properties, are willing to pay significant premiums.
Finally, the Chinese, Turkish, and Russian investors have been among the top 5 who have engaged in real estate purchases in Greece under the Golden Visa program with the British coming in strongly.
Source: tovima.com
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