Golden Visas for Israelis soar
The increase in investment by British, Americans and Israelis in the domestic real estate market, through the Golden Visa program, has been steep over the last year. This stems from the official figures of the Ministry of Immigration and Asylum, showing very large increases in the granting of initial permanent investor permits.
After August this year, it appears that investors from the UK have now climbed to fifth place on the list, just one residence permit away from fourth in line, Iran. So far Britons have secured 482 permits, with a relative share of 3.8%. The increase in permits compared to last August reaches 51%, as a year ago 318 permits were approved – i.e. a 2.9% share of the total.
The increase in investors from the US is also great, amounting to 47% on an annual basis and reaching 353 permits or 2.8% of the total. This compares to 240 permits and a share of 2.2% a year ago. American investors are in seventh place on the relevant list.
The biggest increase, however, with 70%, is recorded by investors from Israel, who now have 271 permits (2.1% of the total), from 159 in August 2023. This is an obvious shift toward the safety of the Greek market, mainly due to the war situation in the wider region, which is now completing almost a year.
Accordingly, an important role in the rise of investors from the UK has certainly been played by the country’s exit from the European Union. Many new buyers of holiday homes in Greece now choose to combine their investment with the application for a residence permit, which is considered an additional advantage and incentive for choosing Greece over other destinations in Southern Europe.
In other words, in addition to the purchase of a property of high standards and affordable cost, in relation for example to a property in Italy, Spain or the South of France, UK buyers can also obtain a residence permit, which allows them and their family members to enter and leave the EU unhindered, an element that has acquired weighty importance for many.
