Leptos Estates has reported a remarkable 37% increase in property sales to Indian buyers, driven by heightened interest in securing real estate in Greece ahead of impending changes to the country’s investment laws. With amendments set to take effect on September 1, 2024, Indian investors are seizing the opportunity to acquire property under the current minimum investment threshold of €250,000 (approximately INR 2.5 crore) before it escalates to €400,000. The Golden Visa programme, which grants permanent residency in Europe, is proving particularly appealing, offering visa-free travel across Schengen countries and access to Greece’s robust healthcare and education systems.
The appeal of Greece as a prime investment destination cannot be overstated. Known for its idyllic locations such as Paros, Crete, and Santorini, the country is drawing Indian investors keen to diversify their portfolios and acquire holiday homes in these picturesque settings. Leptos Estates, known for its luxurious villas and premium apartments, is positioning itself as a leader in this market, aiming to provide comprehensive solutions to discerning buyers. A spokesperson highlighted the intrinsic value of owning prime real estate in Greece, noting that such properties offer not only aesthetic allure but also significant investment potential. As the landscape of international real estate evolves, the demand from Indian buyers underscores a broader trend of high-net-worth individuals seeking to secure their financial futures through property ownership.
Under the revised regulations coming into effect in September, the investment thresholds will see a significant increase, particularly in Tier I regions such as Attica, Thessaloniki, Mykonos, and Santorini, where the minimum investment will rise to €800,000 from €500,000. In Tier II regions, covering the remainder of Greece, the threshold will adjust to €400,000. This impending change means Indian investors have until August 31, 2024, to secure properties under the existing terms, with a 10% deposit required now and the final investment formalities due by December 31, 2024. Owning property in Greece not only opens doors to high rental returns in a booming market but also allows for an enriching Mediterranean lifestyle without the necessity of year-round residency.
