Greece is emerging as a prime destination for millionaires and billionaires seeking refuge from rising taxes in the UK and political shifts in the US, especially following Donald Trump’s election. Alongside other popular relocation spots such as Spain, Portugal, Italy, Malta, and the UAE, Greece has become an increasingly attractive option for wealthy individuals looking for new opportunities and a high quality of life.
Between 2022 and 2024, Greece saw approximately 1,200 millionaires settle in the country, positioning it as the eighth most popular relocation destination globally, according to New World Wealth. This influx of wealth has significantly impacted the Greek real estate market, with foreign capital flowing into property investments, particularly in the country’s scenic regions.
A key driver behind this migration trend is Greece’s appealing policies, including the Golden Visa program, which offers residence permits to investors, and tax breaks for non-residents and retirees. These incentives, combined with Greece’s mild climate, natural beauty, and favorable lifestyle, have made the country a magnet for wealthy individuals looking to relocate.
As reported by ekathimerini, at least 213 investors, including high-net-worth individuals from the UK, Australia, the US, Argentina, the UAE, Russia, and Monaco, have shifted their tax residency to Greece in recent years to capitalize on these benefits. The growing demand for real estate, particularly in regions such as Athens, the Greek Islands, and the Aegean coast, has further boosted the country’s real estate market.
In particular, Athens’ Ellinikon area, once home to Greece’s former airport, is being transformed into a luxury sports park and development hub. The ambitious redevelopment project, aimed at creating a world-class destination, has attracted further investments from foreign buyers, adding to the capital inflow.
As more millionaires and billionaires seek to take advantage of Greece’s investment-friendly environment, the country’s real estate market is expected to continue growing. This trend is not only contributing to economic growth but also helping to transform Greece into an even more appealing destination for both investors and those seeking a new lifestyle.
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