Millionaires choose Greece Wealthy foreigners attracted by incentives, affordable luxury properties
The Greek property market has recorded significant capital inflows from abroad, as the country is becoming a destination of choice for high-net-worth individuals.
In recent years, many such people have decided to leave the UK and the US to move to European countries such as Greece, Portugal, Malta, Spain and Italy, while the United Arab Emirates has also benefited from this exodus.
Greece has already attracted significant capital, partly directed towards the real estate market. According to a survey by New World Wealth, in the years 2022-2024, around 1,200 millionaires settled in Greece from various countries, making it the eighth most sought-after destination.
According to real estate specialists, “Greece is a particularly attractive destination for very wealthy citizens deciding to leave the UK and the US, a trend that has increased in the last 12 months.” Sources say that Athens has a considerable range of incentive programs for this category of people, from the Golden Visa to incentives offered to non-residents and pensioners.
The number of non-resident UK nationals fell by 37% in the decade 2013-2023, and from 2024 onwards, when the British government announced tightening of the program's conditions, this trend has accelerated significantly. Also, the re-election of President Trump in the US appears to have played a key role in the increase in the number of American millionaires relocating to Europe or the Middle East.
Greece is one of the beneficiaries, offering not only incentives and programs, but also its natural beauty, mild climate, lifestyle and affordable luxury properties. Based on data from the Ministry of Finance, at least 213 investors have taken advantage of the program's incentives to transfer their tax residency to Greece.
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