Three thousand homes will be sold to foreign buyers wishing to obtain a residence permit in Greece, reports ee24.com citing ekathimerini.com.
The law of the "golden visa" has become a powerful investment incentive for the Chinese, U.S. and Russian investors willing to pay €250,000 for a residence permit for a period of five years. Often, buyers purchase multiple items, to gain the necessary amount of investment.
In this case, real estate agents in Greece fears that the country soon will see a lack of free housing that could be interesting to foreign investors. This is despite the presence of 200,000 unsold homes represented in the Greek market.