Falling property FDI raises questions about housing market after Golden Visa rush

EconomyMacroeconomy Tags: BoG, Property
Image: MacroPolis
Image: MacroPolis

The latest data from the Bank of Greece (BoG) on non-residents investments in real estate underlined the effects that the Golden Visa scheme had on the Greek property market, largely contributing to the housing crisis which the government is now trying to tackle.

Data for Q2 this year showed that FDI in real estate continued to slide, dropping by 6.5 pct year-on-year (YoY), though it significantly slowed from the sharp fall of over 31 pct YoY that was recorded in Q1.

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