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Chinese, Russians and Turks paid 1.1 billion euros for real estate in Greece and received "Golden Visas"

Featured Chinese, Russians and Turks paid 1.1 billion euros for real estate in Greece and received "Golden Visas"

Funds exceeding 1.1 billion euros are estimated to have entered the Greek real estate market since 2013 on the basis of the "Golden Visa" program.

This program allows investors from outside the EU to obtain a residence permit if they buy real estate worth at least 250,000 euros.

According to the latest available data from Enterprise Greece, presented by "Kathimerini", since 2013, when the project began, until September 2017, 2,014 visas were granted to foreign investors who bought real estate. In particular, it is estimated that in 2017, 464 citizens from non-EU countries received residence permits while applications were tenderede in the summer.

Residence permits have, of course, been granted to members of the families of investors, which according to figures are estimated at 2,948.

However, according to the report, investors outperform their limit of 250,000 euros, as the average cost of their purchases is estimated at 550,000 to 600,000 euros. This means they prefer luxury properties and luxury country houses.

Finally, according to the figures, most investors buying real estate in Greece come from China, and recently there has been a sharp rise of Turkish citizens due to the situation in the neighboring country following the failed coup attempt.

Details:

China with 850 residence permits
Russia with 388 residence permits
Turkey with 161 residence permits
Egypt with 98 residence permits
Lebanon with 85 residence permits
Ukraine with 73 residence permits
Iraq with 62 residence permits
Syria with 48 residence permits
Jordan with 46 residence permits
Saudi Arabia with 18 residence permits
USA with 18 residence permits