There are press reports that the revision of the terms of the Golden Visa Programme of Greece are being finalised by the Ministry of Finance. It appears that the proposed 3 thresholds, as revealed in the press, face stiff opposition from developers who see the proposed thresholds as unrealistic and harmful.

As we have already explained, the new thresholds put current property development projects at risk while doing little, if anything, to alleviate the current problem of low supply, high rents, and high prices. Indeed, they may well achieve exactly the opposite.            

Industry leaders have called for a more exhaustive study of the whole issue before rushing to introduce changes. As things currently stand, it is anticipated that the Programme will be revised within March.