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The latest analysis from Astons, reveals eight of the best locations in Greece for Golden Visa holders, whether they’re relocating to enjoy retirement or looking to take full advantage of the business and investment opportunities Greece has to offer.

 

Best for non-dom professionals

 

  • Athens City

For professionals who are looking to relocate to Greece, there is nowhere more prosperous to be than the Greek capital of Athens. Jam packed with charm and ancient history, Athens is one of Europe's leading cities, blending the old world with the new in a way unmatched by any other capital.

 

With supreme transport connections to take you across the entire world, Athens also boasts leading schools, multinational businesses, many universities and a thriving economy. The city is also ideally located to provide access to the European Union as well as the Middle East.

 

The average Athens property costs €2,250 per square foot after prices increased by 10.5% in the past year alone, so the Greek capital is also a prime investment hotspot for working professionals who also want to benefit from owning real estate assets.

 

  • Thessaloniki

Thessaloniki is a vibrant city on the coast of northern Greece and is hugely popular among expats of all ages. Its northern location means the summers are warm while the winters can be snowy, which may appeal to those who don’t fancy dealing with the Mediterranean heat all year round.

 

As the second-city of Greece, Thessaloniki is far more laid back than Athens, but still maintains all the opportunities you’d expect from a major hub, and is often considered to be the foodie capital of Greece.

 

The city has numerous universities, hospitals and research institutes as well as a busy international airport, so for expats who are looking to thrive in Greece's buoyant economy but want to avoid the bustle and heat of Athens, this could be the perfect spot.

 

Property prices in Thessaloniki have increased by 10.7% in the past year, and are similar to those in Athens, averaging €2,107 per square foot.

 

Best for investors

 

  • Chania, Crete

Chania is the second-largest city in Western Crete – itself the largest of the many Greek islands – and boasts some of the richest cultural history the country has to offer. It also presents an incredible opportunity for investors having seen the average property price increase by 16.2% over the past year to stand at €2,545 per square foot.

 

Chania is big enough to sustain a large population which means it continues to bustle during the winter months when much of Crete and the other islands are quiet. It has a growing economy with lots of opportunities in tourism, technology, and agriculture.

 

  • Patras

Patras is a large port city on the mainland’s west coast. With a rich culture and nightlife, it is also home to a number of large universities and research institutions making it a popular destination for students and academics. As such, it is enjoying a boom in property values, with the average price per square foot now sitting at €1,330 following annual growth of 12.5%.

 

Best for luxury lifestyle

 

  • Athens Riviera

The Athens Riviera is a breathtaking coastal region that spans 37 miles from the southern suburbs of Athens down to southernmost reaches of Attica. It is packed with high-end resorts, stunning beaches, and countless historical sights. The Riviera is becoming a focal point for Athens’ tourism with a number of major development projects coming over the next few years, many of which are focussed on delivering a luxury experience for tourists and expats alike.

 

Warm all year round and with easy access to central Athens, the Riviera pairs the past with the present to offer a glorious and unique living experience.  But this means that local property is more expensive than most other areas of Greece, with the average home costing €3,895 per square foot having seen an annual increase of 7.1%. Standout locations in the Riviera include the highly fashionable Glyfada, and the leafy suburb of Vouliagmeni.

 

Best for retirees

 

  • Corfu

Corfu is an immensely popular island for expats and, as such, boasts some of the most diverse culture in all of Greece alongside the expected history, greenery, and beaches. It is ideally suited for retirees who want a relaxing seaside life while easy access to the local port and airport make it simple to travel when required and also means that supplies of goods and groceries are more readily available than other Greek islands.

 

Corfu is a paradise for anyone who loves the outdoors and lives for dramatic, rugged coast lines. The average Corfu property costs €2,167 per square foot.

 

  • Rhodes

Rhodes is a large island packed with amenities, good healthcare, and work opportunities. Combine this with gorgeous beaches, lush nature reserves, and vibrant culture and it’s easy to see why Rhodes is a top destination for retirees who want a quiet but not secluded life with more than a touch of classic Greek culture.

 

House prices in Rhodes are fairly accessible, averaging €1,905 per square foot.

 

  • Evia (Euboea)

Evia is the perfect spot for retirees who want the convenience of living on the mainland with the relaxed atmosphere of the islands. Located near Athens, and connected to the mainland via a bridge, Evia is Greece’s second-largest island but remains more laid back than the more populous cities and islands. The bridge also means there is easy access to big city amenities, services, and transport links while living surrounded by mountains, forests, and rivers.

 

For expats and retirees seeking an authentic Greek lifestyle, Evia is hard to beat, and house prices are very attractive at an average of €1,400 per square foot.

 

Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, commented:

 

“Greece has become one of the most popular destinations for expats from across the world, but especially those from the UK and USA. It has a highly attractive Golden Visa programme that offers family residency in exchange for an investment in local property of as little as €250,000.

 

Retirees and non-doms also benefit from a favourable tax regime which means that relocating to Greece can be a savvy financial move as well as investment in a fabulous Mediterranean retirement. Non-doms –individuals whose permanent home, or domicile, is considered to be outside Greece – are particularly drawn to Greece because it offers a flat annual tax of €100,000 on foreign-sourced income to qualifying individuals transferring their tax residence to Greece. With the likes of the UK cutting the benefits of  non-dom status, we expect Greece to receive an increase in interest from this demographic.

 

But lots could be about to change. We have recently been hearing rumours that the Greek government intends to close its Golden Visa programme which means the opportunities currently on offer may not be around for long. We think it’s highly unlikely that the programme will close this year, but anyone hoping to gain affordable residency to Greece should act now because there might not be much longer left.”

 

Sources