Mr. Xiong’s Journey with Greece’s Golden Visa and Insights on Property Investment

Original Date of Publishing: April 9, 2024

We’re on a mission to interview one hundred immigrant clients, and today we have a special guest, Mr. Xiong, who has firsthand experience with Greece’s Golden visa program. Greece’s Golden visa policy is undergoing significant changes, with the property investment threshold set to soar from €250,000 to €800,000. Investors seeking European residency at an affordable cost must act swiftly to secure this opportunity before the new regulations take effect, potentially saving hundreds of thousands on their path to a European lifestyle.

Owen: Good afternoon, Mr. Xiong!

Mr. Xiong: Hello.

Owen: You decided to obtain Greece’s Golden visa six years ago. What were your considerations for Greece at that time?

Mr. Xiong: There were three main reasons. First, asset allocation. In 2019, we were considering the domestic property market and thought about diversifying our properties into different areas. Second, for vacation needs. My parents and I enjoy traveling to Europe, and dealing with visas was always a hassle. With the Green Card, we can travel freely without needing visas, not just in Greece but in all Schengen countries. Third, my parents’ retirement. My mother has always hoped to live in a sunny place with beaches, so Greece was a great choice.

Owen: Europe has many countries. You’ve also visited many European countries. Why did you choose Greece as your only option?

Mr. Xiong: The first reason is the type of immigration program. We compared Greece with Malta, but Malta’s government bond program seemed to have changed to a donation program. We preferred real estate. Comparing real estate immigration among several countries, Spain and Portugal were twice as expensive as Greece, while Cyprus hadn’t joined the Schengen Area yet, so their Green Card didn’t allow for free travel in European Schengen countries. Greece’s Green Card was the most cost-effective option for our needs.

Owen: You’ve visited Greece many times. What are your feelings about this country?

Mr. Xiong: I feel very good about Greece. The food is delicious, life is convenient, and the cost of living is reasonable compared to living in Hangzhou. The scenery is fantastic, especially the Aegean Sea and the islands.

Owen: You’ve shown great foresight in your investment. With the Greece Golden visa, you can travel freely in 30 European countries. Moreover, the location where you bought property has already undergone political changes last year. Back then, you only needed €250,000 to buy a property to obtain the Golden visa. You really saved a lot of money. Do you have any advice for our audience regarding property selection?

Mr. Xiong: I think choosing a house is similar to choosing one in China. The first thing is location, which is crucial. I did some research and communicated with many colleagues at Globevisa. They suggested some wealthy areas, consulate areas, and vacation areas, which were our first choices. Secondly, consider the convenience of transportation in the area. The area where my property is located is very close to the core area of Athens, so I don’t need to worry about taking a taxi, I can walk there. Thirdly, we should pay attention to the surrounding environment. For example, the area I bought in has a lot of parks nearby. It’s very comfortable to go for a walk or exercise in the morning. In the afternoon, I can go shopping or to restaurants. Finally, we should consider whether there are good schools and medical facilities nearby. Although I don’t have children, I believe this is something that many families with children need to consider.

Owen: Thank you very much, Mr. Xiong, for sharing your valuable experience and insights with us today!

Mr. Xiong: Thank you!

In this interview, Mr. Xiong provides a detailed account of his decision-making process when choosing Greece for his Golden visa investment. He highlights the importance of asset allocation, travel convenience, and retirement planning. His insights into property selection in Greece offer valuable guidance for those considering a similar path. With the impending policy changes, it’s crucial for potential investors to act quickly to secure the benefits of the current Golden visa program. Mr. Xiong’s experience serves as a testament to the value and advantages of investing in Greece’s real estate market.