Greece has revised its Golden Visa program investment requirements, now mandating €800,000 for properties in major cities and €400,000 in other areas. This change, aimed at addressing housing shortages and boosting national revenue, also stipulates that purchased properties cannot be listed as “holiday homes” on platforms like Airbnb. In 2023, the program generated €2.5 billion from property purchases, with a continued focus on properties classified as “monuments” available at lower prices for renovation.
Tag: housing shortages
The Greek government is re-evaluating its approach to short-term rentals amid growing concerns over housing availability. Instead of implementing a broad cap on rental days, it is introducing targeted restrictions in highly saturated urban areas, such as central Athens and Thessaloniki. This shift aims to balance short-term and long-term rental ratios locally, based on detailed data down to the postcode level. Additionally, a new tax incentive is being proposed to encourage the conversion of vacant or short-term rental properties into long-term leases, with Prime Minister Kyriakos Mitsotakis expected to unveil these plans at the Thessaloniki International Fair.