Greece has been experiencing a surge in real-estate trade over the past two years which is largely attributed to Chinese buyers, according to Carrie Law, the CEO of Juwai.com, which is the largest portal used by Chinese international property buyers.
Greece’s lucrative Golden Visa Scheme” has played a pivotal role in the rise in interest in properties by many Chinese investors, as it allows 3rd country nationals outside the EU to acquire a residence permit in the country and by extension an EU residence permit. The program stipulates those interested in gaining the permit have to invest more than €250,000 ($284,000) in Greek real estate.
Law says that enquiries by Chinese consumers on Greek property have increased fourfold compared to last year, adding that ”Chinese buying inquiries increased by 137.5 per cent in the third quarter alone.”
”Mainland Chinese invested $119.7 billion in international property last year,” said Law, noting that she expects investment this year to be up by three to eight per cent over that level. That would bring the total investment to at least $123.3 billion for the year 2018.