This archive report was first published on 29 October 2019.
On October 29, 2019, Avakon Kenya, a property consulting and engineering services firm, announced its efforts to encourage Kenyans to invest in Greece's real estate through the European nation's residence-by-investment programme.
The programme, known as the Golden Visa Programme, provides access to all European countries without further visa requirements, with a minimum investment of €250,000 in property.
According to Kosta Kioleoglou, Avakon Kenya's managing partner, Greece's Golden Visa Programme is one of the friendliest investment options available, with a lower minimum capital investment compared to other European countries.
"This is the smallest minimum capital investment considering that the threshold is €300,000 in the case of Cyprus, and €500,000 in both Spain and Portugal," Mr Kioleoglou said.
The programme has no requirements of minimum stay in the country, making it an attractive option for investors.
Additionally, the Greek government has recently announced the removal of the 24 per cent VAT on new property transactions for the next three years, making it an even more appealing opportunity for investors.
"Just a few days ago the government announced that the 24 per cent VAT that used to apply for all new property transactions is now removed for the next three years. This means those who enter the market in the next 36 months will purchase properties almost 20 percent cheaper," said Mr Kioleoglou.
