The threshold for the Golden Visa in Athens is skyrocketing, since the limit will be increased on 800,000 euros, as announced by the Minister of Finance and National Economy, Kostis Hatzidakis.
Speaking to Mega, regarding rents and house prices and investment limits, Mr. Hatzidakis said:the amendment will be filed within the week for the golden visa. The government has already made an intervention in December for Airbnb. The real estate market has risen as expected. The government sees that rents have risen more than inflation, which is why we have intervened in short-term letting. After December we treat those with more than 3 Airbnb properties as entrepreneurs and subject to the VAT regime. On the other we don’t want to “kill” the short-term rental scheme because it is an additional income for many families, and they increase tourist accommodation. We also have the golden visa, the issue of which will be addressed with a new perspective. Transactions made with golden visa in real estate are 7% of transactions. That’s why on the golden visa, we will go to the places that are more touristic, and we will raise the limit to 800,000 euros to get a golden visa, in the rest of the areas it will be 400,000 euros”.
He added: “We think that the golden visa threshold being lower pushed prices up. And that’s why Athens went from 250,000 to 500,000, now it will go to 800,000. Now the investment will be for real estate of great value and not for real estate for a house he wants to buy e.g. a couple. We keep the prices low on listed properties, because there are many abandoned ones that are difficult to repair, so we give an opportunity to the owners to sell them and to those who want to get a golden visa to invest in them.”
Mr. Hatzidakis referred to raising the minimum wage, which will be regarding 4-5%. “The first number will be 8, and next week we will know its height, always the government tries to combine 2 different needs. First, the pressure on employees who are paid the minimum wage, and on the other hand, the endurance of businesses. The government is trying within the limits of the economy and businesses. We found the minimum wage at 650 euros and raised it to 780 euros. The new increase will be significant. Before the last increase, we were in 18th place in the EU out of 22 that have the minimum wage status, we rose to 12th, now we fell another 2-3 places because others increased their salary, now we will go up a little bit once more”, he said characteristically.
“We’re past the worst regarding accuracy”
Then the Minister of Finance spoke regarding her accuracy which “plagues” Greek households but also for the increases in fuel and bank fees. “Fuel prices are beyond the control of one country, they are international developments. The government believes that we have left the worst behind us in terms of accuracy. And because of the measures that have been taken, but also the momentum of things internationally, it makes us believe that there will be a steady de-escalation of prices. There are a number of problems, Greece did not suddenly become a paradise”, he underlined.
For bank commissions: “banks have proceeded for the 2nd time to freeze mortgage interest rates. Now we’re talking regarding procurement and POS. We hope that moves will be made there as well. IRIS is an initiative and we have made it mandatory for professionals. The professional must have both POS and IRIS which is a system of direct payments up to 500 euros with zero commissions.
“All businesses and freelancers will be connected to POS and cashiers. This project is complex. These days we reach POS connections of around 100,000 businesses. Until the end of March is the deadline and because there are not enough technicians, we are giving the opportunity to those who cannot make it until the end of March, to make an appointment with their technicians from now until April. Only the seasonal businesses will remain and some others that have other systems will remain. This project will be completed rain or snow and is a milestone in the Recovery Fund. If it is not completed, the country’s funding from Brussels will be partially cut off. As for the objective values, I cannot decide”, added Mr. Hatzidakis.
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