Greek Prime Minister Antonis Samaras’ plan to lure people with money to the country by offering them residency permits for buying properties worth more than 250,000 euros ($331,600) has its first recipient: a Chinese national who bought an apartment in Attica.
The contract was signed under the new investment law 4146/2013, which provides the granting of residence permits to non-EU citizens if they meet the benchmark set for property acquisitions.
According to the announcement of the real estate company BuildUp, the contract was signed in the framework of the exclusive cooperation of the Greek company with the Chinese company CSDH for the promotion of Greek real estate to the buyers and investors of China.
The transfer, which was signed on Aug. 8, is for a two-story maisonette located in a suburb of East Attica and close to the Eleftherios Venizelos International Airport. The price stood at 252.000 euros, with the objective value of the house being at 160,000 euros, ($212,222).
The buyer is the Chinese businessman Jin Hong from Beijing. The company Hong operates is in real estate market. The company will apply for the issuance of three residence permits for itself and its relatives.
People who can’t afford to buy expensive properties will have to face more rigorous procedures for renewable residency permits, including Greeks of the Diaspora whose families came from Greece. Foreign nationals who can afford to buy property will go ahead of them in line.