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Recently, many institutions in the market have successively reported that the price of the Greek housing investment immigration project will rise to 300,000 euros next year. The content described in it is also very detailed. Outside Athens and major developed cities, the original policy of 250,000 euros will remain unchanged. But Athens and major cities and regions will be increased to 300,000 euros.
The news is mainly from a local immigration law firm in Greece. Many immigration lawyers have stated that the price increase policy is expected to be implemented next year.In fact, it’s no secret that the price increase in Greece has long been a secret. As early as 2019, there was news of a price increase in the Greek gold residence investment project. If it had not been for this epidemic that many people could not go to Greece for inspections, Greece might have already begun to adjust immigration. Policy.
In this regard, the officials of the Greek consulate in China called it: rumors, because so far they have not received any notice about the government.
Why do Greek immigrants have to increase prices? Where does the confidence come from?
In recent years, the Greek Immigration Department has been committed to various reforms that keep pace with the times to provide foreigners with faster and more effective services. According to the latest data from the General Secretariat of Immigration Policy of the Ministry of Immigration and Asylum of Greece, since the introduction of the “Golden Visa” policy in 2013, a total of 8,011 third-country investor families have obtained residence permits issued by the Greek government, while Chinese investors are among At the top of the list, a total of 5927 families (including family members, total: 17,875 people), have become the main force in the purchase of real estate in Greece.
The Greek Ministry of Finance announced on March 18 that it has repaid 3.3 billion euros of debt to the International Monetary Fund (IMF) in advance, and the amount will cover loans due in 2021 and 2022.
This is the second time since 2019 that Greece has repaid IMF debt early. This move will enable the Greek government to reduce its debt servicing costs, because the interest on IMF loans is higher than the interest currently paid by Greece in the international market. The European Stability Mechanism (ESM) approved this action in early March.
The Greek Ministry of Finance stated in a statement that by repaying IMF loans early, debt service costs in the next two years have been reduced and key debt sustainability indicators have been improved.
Since 2010, Greece has received three international bailouts from the Eurozone and the IMF, with a total value of 280 billion euros. As early as November 2019, the Greek government had repaid 2.7 billion euros in advance to the IMF. Coupled with the successful early repayment of 3.3 billion euros, Greece has already paid off the 6 billion euros. By 2024, Greece will also need to repay the remaining 1.5 billion euros of IMF loans.
The debt crisis broke out in Greece at the end of 2009, and the total economic volume shrank by about a quarter. Since 2017, the Greek economy has begun to recover its growth, and it withdrew from the rescue plan in August 2018 and gradually returned to the international market. In July 2019, the new Greek Prime Minister Mizotakis came to power and introduced a number of policies to stimulate economic development: In August of the same year, the Greek government announced the complete removal of capital controls, and the normal flow of capital began to resume in early September.
Although the Greek economy is affected by the epidemic, the Greek real estate market can still maintain an upward trend. According to the third quarter house price index report released by the Central Bank of Greece recently, the Greek apartment house price index rose by an average of 3.2% year-on-year. The quarter-on-quarter increase was 0.7% in the previous quarter and 5.6% year-on-year in 2019.
This price increase is expected to increase the threshold for buying real estate in the core area of Athens, Greece. After all, real estate in Athens is more valuable and everyone is willing to buy it. This logic is very easy to understand. Starting next year, Portugal will limit the immigration of home buyers to It can be seen outside Lisbon and Porto. Moreover, the number of real estate in the core area is limited. If it is not controlled, house prices may rise by then, which will also affect the threshold for locals to buy houses and cause opposition from their citizens.
This means that most investors are full of confidence in the Greek real estate market. With the implementation of the Greek new crown vaccination plan, it is undoubtedly a big plus for investors interested in entering the Greek real estate market.
Although Athens and other areas may rise to 300,000 euros in the future, I believe most people are still more inclined to choose these popular areas. After all, the most important thing to buy a house is location, location, and location! Because even so, compared with the situation of European countries either raising prices or shutting down, the slightly rising Greek immigration is still the most cost-effective European immigration project.
At the same time, the expectation of price increases also allows us to see that European immigrants are facing a retrenchment. Europe is not a traditional immigrant country. In the face of overheating, it will inevitably carry out strict control. Looking at the closure of Hungary and Cyprus, the price increase in Ireland and Portugal will understand. Greece has risen slightly amidst such a rise, and its attractiveness will not be greatly affected.
Reprint indicated source：Spark Global Limited information