Snapping up opportunities is what Indians do the best and that is the reason why Indian investors started buying properties in Greece for record prizes. As soon as they saw that the minimum investment is going to be doubled, the Indians made a lot of real estate purchases ahead of Greece’s Golden Visa Programme.
The buyers bought permanent residences and the purchases in the European Union nation saw a rise of 37% from July to August. Before the amendments, Indians could make an investment with a minimum of 250,000 euros while the minimum investment became 800,000 dollars in Tier 1 cities like Athens, Thessaloniki, Mykonos, and Santorini.
Greece’s finance minister Kostis Hatzidakis said, “The government hopes this will encourage investment in less crowded areas while addressing local housing needs.” Sanjay Sachdev, Global Marketing Director of Leptos Estates claims, “We saw a rush of Indian homebuyers in recent months, to the point where we sold out our available residential stock in Greece. Many investors purchased under-construction projects with handover periods of six-twelve months.”
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