The minimum property purchase price to qualify for the coveted Greek Golden Visa for the Attika area, has been confirmed to increase to €800,000 with some islands and mainland Peloponnese areas discounted to €400,000. New rules & conditions will also be applied. The new value and rules apply immediately but as usual the Greek Government have had to phase it it. So if you are under pre-contract having paid a deposit already and can complete by August 2024, then you get your qualifying price at the previous 250k.
Aegina, Poros & Spetses all increase to €800,000. But Hydra Island, because the population is less than 3,100, qualifies for the discounted value of €400,000. The lower value also applies to most of the Peloponnese areas of Galatas (Poros) through to Metochi (Hydra). Ermioni will probably qualify for the lower 400k threshold, or possibly still stay at the old 250k price because it doesn't strictly speaking come under the Attika region.
The rules for property qualification in addition to the investment value, are that it must be more than 120m2 living space and Golden Visa Applicants agree that they will not short-term holiday let the property. So no AirBnb style extra income. However, it is possible to long-term residential let. So those who are seeking just a return on investment with no intention of staying in the property themselves, will be able to get a small income by renting to someone in the local community.
For more details, please don't hesitate to contact me, regards Kelsey