Indian Investors Buying Property in Greece: For the past few days, the interest of Indian investors in property in Greece is increasing, which is surprising everyone. Indian people are rushing to buy houses in Greece.
Now you must be wondering what is the reason behind this? So let us tell you that some special regulatory changes are going to happen in Greece from 1 September, before which Indian investors want to take full advantage of the Golden Visa Scheme here. Under this Golden Visa Scheme, investors have started to get permanent residence.
You get the facility to live there in exchange for investment
Let us tell you that the Greece Golden Visa Scheme launched by the Greek government in 2013 gives permission to stay there in exchange for investment in property. Which becomes a good option for non-Europeans coming from outside. Initially, its price of about 2.5 lakh Euros i.e. Rs 2.2 crore was the lowest in Europe, due to which investors have been attracted towards this investment. This is the reason why the real estate markets of Greece have gained momentum. Now Indian investors are going towards famous Greek islands like Paros, Crete and Santorini to buy property.
House prices are rising rapidly
However, due to demand, the prices of houses in Greece have also started increasing rapidly. Property prices in areas like the capital Athens, Thessaloniki, Mykonos and Santorini are skyrocketing and to deal with these problems, the Greek government has increased the investment limit for properties in these areas to 800000 lakh euros i.e. about 7 crores rupees, which has been activated from 1 September 2024. The purpose of these rules is to stop the rapid rise in prices and increase investment in areas where development work is going on.
What are the benefits
Now let us tell you what are the benefits under the Golden Visa. Sanjay Sachdev, Global Marketing Director of Leptos Estates, said that in the recent months, a huge crowd of Indian buyers has flocked to Greece. Many investors have invested in properties with a time frame of 6 to 12 months, which are under construction. Under this Golden Visa scheme, Greece gives an attractive rental profit of 3 to 5 percent annually, apart from this, property rates in the country keep increasing at the rate of 10 percent every year. Not only this, after the Corona epidemic, these rates have increased very rapidly. Not only this, investors also get a chance to establish their business within the European Union, good health facilities and education here.
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