Personal Experience: Purchasing a Villa in Halkidiki and Applying for a Golden Visa in Greece

This summer, on July 24, Zoran, a citizen of Serbia, asked us to find and to purchase real estate in Greece for vacation and "Golden Visa" before the rules will be changed. The client really needed to a summer holiday property for a large family with five children and to obtain a Permission to live in this country — Golden Visa in Greece is one of the most affordable programs and allows free moves and residence in the Schengen zone. After the first visit to the properties in Halkidiki, it was clear that he needed to increase the budget in order to find comfortably accommodate for a large family on vacation. After this, the client settled on the first option offered, as it fully satisfied the requirements of his family.

What gets the client:

The client's choice was a corner villa in a gated well-kept complex of 11 villas with an area of 250m2 plus an attic of 40m2 and a plot of 500m2, with 4 bedrooms (and possibility to build 2 more bedrooms in attic zone), fully furnished and equipped with the necessary appliances and air conditioners. This villa has 2 covered parking spaces. The villa offers beautiful views of the sea, because the plot is located on a small elevation above sea level.

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The villa is located in a beautiful place in Halkidiki, within walking distance from the beach and in just 1km from all infrastructure and is also interesting for holiday rentals during the season. The airport is only 30minutes away.

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The price of a large spacious villa with quality furniture, all appliances, equipment and decor and a plot was established as 550,000 euros, that is 1900 euros per m2. Now, after 8 months, such villas are for sale for a minimum of 2500 per m2 without furniture. So the price was good for the Golden Visa and was a very attractive on the current real estate market.

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The profitability: even now the owner can resell the villa with a significant profit of at least 20%. However, such a villa can also be rented profitably during the holiday season with a yield of 5-6% per annum.

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The client’s main requirement was the fastest possible processing and completion of the transaction within 3-4 weeks until he was in his vacation. The client was completely satisfied with the quality and efficiency of our work and has already managed to apply for a Golden Visa for himself and his family before the rules will be changed.

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The purchase was completed in the shortest possible time, and the Golden Visa was issued remotely, since the client left Power of Attorney for the lawyer.

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Full support of the client by RES-Greece experts: we helped to find out the proper budget for the purchase according to the client’s demand, to prepare documents and closed the deal in a very short period, also Golden visa for the whole family were issued remotely.

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