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Last update: January 10, 2024

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Golden Visas and the Ellinikon Development in Greece

View toward Ellinikon area Athens Greece

View toward Ellinikon area of Athens, Greece click to enlarge photo – it is between Glyfada Beach and Kalamaki Beach.

The Ellinikon area near Athens is situated along the Mediterranean waters of the Saronic Gulf and has undergone extensive development, featuring hotels, condos, and entertainment venues. Often referred to as "the Greek Riviera" and "the Greek Gold Coast," this expansive zone was previously home to a vast airport complex utilized by the United States military and, subsequently, by the Greeks for various smaller projects. Nestled adjacent to Glyfada, Greece, an established expat community, the area has been earmarked for high-profile projects. Notably, the current Greek government, enjoying remarkable popularity since June 2019, recently secured another four-year term to pursue ongoing reforms within Greece's state system.

The Golden Visa program has proven to be an economic success for Greece, aiding in the recovery from the economic fallout of the 2008 collapse, during which the country assumed a substantial amount of international loans. The current government has achieved notable progress in addressing some of the largest loans, paying off several ahead of schedule, and systematically navigating through others. The influx of foreign investment, coupled with impressive tourist numbers, has led to a significant surge in rents and home prices in Athens. This surge poses a challenge for the government, which is now actively working to strike a balance between providing affordable housing and fostering continued growth as more people choose to settle in the area.

The development surrounding the construction of the Ellinikon project often intersects with the "Golden Visa" program. This initiative enables foreigners to acquire a property and, for €250K (or €500K in specific high-demand areas), secure a residential visa. As 2024 unfolds, it appears that the momentum of the program will persist, driven by continued foreign investment and an influx of individuals seeking residency in Greece.

More about Greece



Italy Don't Do It Guide

What Not to do in Italy Guide Book - 209 pages, published September 2023 – Amazon. I am an Amazon Affiliate, I may earn a commission on any sales of items sold.


Is 2024 the year you become an Expat because of politics?Los Angeles Times MSN

According to Gallup, record numbers of Americans seriously considered leaving the United States during Trump’s term. Sixteen percent said they wanted to split for good. This was considerably higher than during the administrations of George W. Bush (11%) and Barack Obama (10%)..."


The pluses - and negatives - for a Brit moving to the Netherlands

Story at GB News MSN


Earning power in London higherNZ Stuff


Learning Spanish to have a more effective expat experience

Story at Dominican Today

I know many foreign expats and retirees who make it just fine in the Dominican Republic without knowing much Spanish. It’s possible, especially if you live in a community or area with many English-speaking expats. That said, I’d recommend trying to learn Spanish, even if it’s at the most basic level.



Looking at 2024 retirement goals

Story at Forbes

A quick look at the basics for planning on retirement: finances, health, under what conditions you want to experience your retirement.


Moving from NYC to South Korea - what's the major problems?Business Insider

Teng has been documenting her journey of discovering the surprising things she experiences in South Korea on TikTok. She has more than 32,000 followers who enjoy watching her navigate life in Korea, from photoshopped passport pictures to clubs turning down entry to foreigners.


Norway is ranked as one of the safest places on the planet for expats: however its also one of the worst places for expats for other reasons

Story at UK Express


Why are Britons moving from UK to Spain?iNews UK (Because the UK is becoming a "shit show" says real estate agent.)


Where in Greece people live the longest

Story at Greek Reporter [English]


What are "Golden Visas" ?Yahoo Finance

Article discusses how there are pressures in Europe to end Golden Visa programs, but that the demand continues to rise, and focuses on the demand coming out of the United States for the program.

Also, ten different countries are surveyed in the article: Saudi Arabia, Indonesia, Spain, UAE, Taiwan – the article then links to "Insider Monkey" with five more countries discussed: Cyprus, Greece, Italy, Portugal, Malta

Since Golden Visa programs are primarily investment schemes, the article discusses the amounts of money required to access the program, ranging from $2.5 million in Indonesia to $140,000 in Malta.


What cities of Europe are the cheapest for expats to buy homes?MSN Business Insider

The brief survey of homes goes from an example property of $97,942.75 in Bitola, North Macedonia to $178,070.28 in Oradea, Romania.


Comparing the benefits of a Golden Visa vs the DIgital Nomad VisaForbes


How polls of Expats rank places to move to in EuropeForbes


Expat in Mexico since 2006: what's changed and what hasn'tMexico News Daily

The article is about coastal living in Mexico and, as the article puts it, the constantly growing tourism and development of "big box" store chains, and how this brings about conflicting feelings about how Mexico is developing away from a "simpler" time in the past.


Straight forward Expat dos and don'ts for Lima, Peru SMH Online


Retiring to the USA West Coast: thirty "top" locastions

Story at MSN Stacker


Expat moves and bringing pets overseasForbes


The "new" Golden Visa changes in Greece from €250,000 to €500,000

Story at Forbes 

Thousands applied for golden visas — particularly Americans and Chinese investors — by buying property in Greece before the increase, which was one of the government’s reasons to delay the measure until now.


American expat: shocked by UK CultureMSN New York Post

"Things that are socially acceptable in England that would confuse Americans"


Expat realtor in Singapore: rent costs are dropping

Story at Asia One


Despite efforts to shut down "Golden Visas" in Europe, demand continues in Greece, Portugal, Spain

Story at BizNews


Expat in Portugal: the significant difference of work/life balance here versus the USA MSN Business Insider

When I lived in the US, most of my coworkers didn't even take lunch, or if we did, we'd take a working lunch. Back home, the mindset is that if you receive an email, you should reply right away. It's very different here, and while that's mostly positive, it can take longer when you're trying to get something done. In Lisbon, everyone goes outside to the park after work, which is also very different.


The trouble about retiring into Australia: lack of affordable housing

Story at UK Express

InterNations conducted a new study asking expats around the world about livability and costs in their new homes, and "nearly half" surveyed found the cost of living in Australia was too high, and a third of respondents said that disposable income was not adequate to live on in a comfortable way.


Exat guide for London's St John's WoodSydney Morning Herald


Japan quite expensive for expatsCNBC

Compensation for expats in Japan is the highest in Asia... but Japan is also one of the two most expensive places for expats.


Best healthcare in the top 15 countries of Europe

Story at Yahoo Finance


Top places millionaires are moving to

Story at Daily News MSN

The top destination is Australia... but the USA is in the top five, also.


The Visa categories for retirement to Thailand

Story at Pattaya Mail


Going to Italy to cure depression and find a better life: the fiction and the reality

Story at MSN Well+Good

Italy has been idealized for decades. Was Audrey Hepburn eating gelato in Roman Holiday the first time we saw how this magical Italian ice cream could free us from the troubles of everyday life? After Eat, Pray, Love, how many women dreamed of feeding their spirit with Italian language, culture, and, of course, pizza?

....But after six months, maybe a year, I settled back into my baseline self, where depression and anxiety were waiting at the table, saying, “Did you think you could forget about us?”
On top of the language barrier and culture shock, other common feelings for expats are isolation and loneliness, but what I found most difficult is the shame that those feelings brought on..."

The article isn't about failure and exiting Italy, instead it narrates how the author worked through various issues and cultivated a fuller life there.


Expat pay in Singapore rises: drops in Hong Kong

Story at Bloomberg


Portugal and the struggle in Europe over the Golden Visa programs

Story at EuroWeekly News

The EC European Commission has serious security concerns over the Golden Visa programs being abused by organized crime and tax evaders. Portugal is moving toward either a program termination or a system with heightened screening processes.


It is a "clean" place, but unfriendly - the problems of going to Norway to retire UK Express

The Nordic country scored particularly badly on social life, culinary variety and affordability. Almost 40 percent of expats said they didn’t feel at home in Norway...


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