Why is demand for buying properties in Greece rising among Indians?

Between July and August 2024, Indian investors increased their property purchases in Greece by 37 percent.

Greece's Golden Visa Programme provides residency or citizenship in exchange for investments in real estate, government bonds, or other recognized entities. 

Buyers scrambled to secure permanent residency ahead of revisions to the country's Golden Visa Programme.

The new restrictions, which took effect on September 1, more than doubled the minimum investment required to qualify for a visa through real estate acquisitions.

The move is part of a larger housing program aimed at assuring cheap and quality homes for Greek inhabitants by relieving real estate pressure in high-demand locations. 

Greece's finance minister Kostis Hatzidakis said, "The government hopes this will encourage investment in less crowded areas while addressing local housing needs."

The policy has grown in popularity among wealthy Indians looking for second homes in Europe.

People were also attracted by the perks of rental income, access to healthcare and education, and the possibility of establishing enterprises in the EU.