Under the revised scheme, individuals seeking a golden visa in Greece will now have to invest more to qualify for residency. The price hike is intended to deter speculative investment in the real estate market and ensure that the program benefits the Greek economy in a sustainable manner.

The decision to raise the cost of the golden visa reflects Greece's commitment to striking a balance between attracting foreign investment and safeguarding the interests of local residents. By adjusting the program's eligibility criteria, authorities seek to promote responsible investment practices and mitigate the impact of property speculation on housing affordability.

The golden visa program has been a popular route for foreign investors seeking residency in Greece, particularly through real estate investment. However, concerns have been raised about the program's potential to drive up property prices and exacerbate housing shortages in certain areas.

With the price increase, Greece aims to attract investment that contributes to economic growth and job creation while addressing the housing crisis in a sustainable manner. The revised golden visa scheme is expected to strike a better balance between foreign investment inflows and domestic housing needs, fostering long-term prosperity for the country.