As of September 1st 2024, Peloponnese continues to be a significant destination for investors interested in obtaining residency through the Golden Visa program. This program has undergone substantial changes in recent years, aiming to attract investors and boost the development of the local economy. The current conditions for the Golden Visa in Peloponnese are as follows:Golden Visa Acquisition with €250,000:

1. Properties of any size that have been converted from commercial to residential use: The total investment must be made in a single property, and the conversion must be completed before submitting the request for the investor's permanent residency permit.
2. Properties for restoration or reconstruction: This includes listed buildings or parts of listed buildings, or properties that contain a listed building. Again, the total investment must be made in a single property.

Golden Visa Acquisition with €400,000:

1. Luxury residences: Villas, vacation homes, and houses with a minimum floor space of 120 square meters located near the coastal areas of the Peloponnese are particularly popular. Areas such as Nafplio, Tolo, Ermioni, Porto Heli, Loutraki, Xylokastro, Koroni, Stoupa, and Pylos host luxurious residences often exceeding €400,000. These properties attract investors looking to acquire a home for personal use while benefiting from the growing real estate market.
 
2. Tourism properties and apartment complexes with a minimum floor space of 120 square meters: With the increase in tourism in the Peloponnese, investors are turning to tourism accommodations. These properties, such as small rental apartment units, hotels, and guesthouses, are a good option for those wanting to combine investment with a business venture.

3. Land for development of any size: Plots and land in tourist areas are also options that qualify for the Golden Visa. Many investors choose to purchase land to develop either luxury residences or tourism accommodations. This category of properties is especially attractive in areas with high development potential, such as Argolida and Messinia.

IMPORTANT NOTES:

- Properties purchased through the program cannot be rented short-term (Airbnb, etc.) but can be rented long-term (annually) or mid-term (every 6 months).
- Properties converted from commercial to residential use cannot be used as a business headquarters.

 Tips for Interested Buyers:

Investors looking to benefit from the Golden Visa program in Peloponnese should carefully prepare their options, considering trends in the local real estate market. Choosing a high-quality property in developing areas can provide stable returns over time, while also securing a residency permit in Greece.

Moreover, it is crucial for investors to collaborate with experienced advisors and real estate agencies that can offer guidance on the most suitable investment choices. The real estate market in the Peloponnese, though competitive, offers many opportunities for investors interested in combining their stay in Greece with a significant investment move.

Conclusion:

As of September 1st, 2024, the Golden Visa program in Peloponnese remains an excellent option for investors who wish to obtain a residency permit in Greece while investing in one of the country's most beautiful and developing regions.

Skouras Real Estate offers a wide variety of suitable properties. Find your property here and contact us today!