Investments Greece a Top Residence-by-investment Option by Maria Paravantes 25 May 2023 written by Maria Paravantes 25 May 2023 1 comment Share 0FacebookTwitterLinkedinWhatsappEmail 18 Greece is among the Top 10 countries to buy real estate for residence but missing out on the Russian market, according to a recent report released by property brokers Tranio. According to the latest data, all the more Russians are looking into residence-by-investment programs as are buyers from BRICS and CIS countries. Indicatively, in the past year, Turkey accounted for 21 percent of Russian requests, followed by Cyprus (17 percent), and Spain (13 percent). Greece, which is currently not accepting Russian golden visa applications due to the Russia-Ukraine war, ranked fourth, followed by the UAE, France, Portugal (which is discontinuing its golden visa program in June), Germany, Montenegro and Thailand. Before the war, Russia was a top market for Greece’s investor visa. Turkey and China were in the Top 3. According to Tranio analysts, demand by Russian buyers remains high in 2023. They purchased 1,183 residential properties in Turkey in April and 1,175 in March driving the number of requests for investment programs in the country up by 103 percent over the year. Greece is among the most popular destinations in Europe to invest through its highly sought-after golden visa scheme open to buyers from CIS excluding Russia. As of 1 August 2023, the golden visa limit will increase from the current 250,000 euros to 500,000 euros for certain areas. This news has boosted demand by investors wishing to close the deal before the change. Source: Tranio Cyprus, which offers residency rights with a 300,000-euro investment is also a favorite. Spain (500,000-euro threshold) and Cyprus are benefiting as programs there are still open to investors from Russia and other CIS countries. “Among the new trends, it is worth noting the growing interest of Russians in obtaining a second passport in other CIS countries, which is acquired for capital restructuring purposes more often than for the investment ones. In prospect, citizenship of the CIS allows you to participate, for example, in the Greek golden visa program,” said Mikhail Bulanov, Executive Director and Partner at Tranio. Join the 15,000+ travel executives who read our newsletter Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail Maria Paravantes Chicago-born and raised, Maria Paravantes has over two decades of journalistic experience covering tourism and travel, gastronomy, arts, music and culture, economy and finance, politics, health and social issues for international press and media. She has worked for Reuters, The Telegraph, Huffington Post, Billboard Magazine, Time Out Athens, the Athens News, Odyssey Magazine and SETimes.com, among others. She has also served as Special Advisor to Greece’s minister of Foreign Affairs, and to the mayor of Athens on international press and media issues. Maria is currently a reporter, content and features writer for GTP Headlines. previous post Europe Travel Commission Launches Climate Action Plan next post Greece Welcomes More than 1 Million Travelers in Q1 You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 1 comment Carl Simpson 27 May 2023 - 01:06 If Greece allows anymore Russian investment it will have Ukrainian blood on its hands. Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
