Golden Visa: The plan for abandoned buildings – Athens aims to change “person”

To change the “person” of Athens and the other major cities aspires to it with the changes it introduces into its regime , which are included in the new tax bill presented on Thursday (21.32024). And this is because, a familiar and unpleasant image of Athens is thousands of buildings, often of great architecture of other times, standing surrendering to abandonment, which did not go unnoticed by the “redars” of the Ministry of Culture when it processed the proposed changes to Golden Visa. Thus, the purpose of the financial staff among the other arrangements is to put in the “game” these thousands of preserved buildings, saving them from abandonment, by attracting their buyers. At the same time, the possibility is opened to join the housing market and the buildings which have remained closed and licensed until now. Only at Athens level, according to data from the Region of Attica, there are estimated to be 1,200 abandoned buildings, the majority of which are located in the districts of the centre. As stressed by the financial staff, the new framework of the arrangements aims to multiply the houses which are in “release” on the Greek market, and is only one arm of the government’s overall housing policy, among my “Home”, “Renovate-Rent” programs, etc. Under Golden Visa any investor from third countries will be able to purchase a listed building, with a minimum investment threshold of EUR 250,000, in order to obtain a residence permit in the country of five years. In fact, in order to attract as many conservation buyers as possible, the investment threshold remains comparatively low, compared with the increase in the 800,000 euros foreseen for Athens. The visa will be renewed once the investor maintains the property of the building and after the end of the decade. However, the condition laid down by the HYMIC is that the building has been fully restored within five years, otherwise the right of residence will be removed from the investor, thus ensuring that the buildings that have now been abandoned are half-refused to be renovated and become viable and functional again. Provision for non-renewal of the visa exists for when the owner sells the property. If the investor sells the property then his residence permit is revoked and the new buyer has the right to be granted a residence permit.