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In Spain. Specifically, as of yesterday, Spain has been added to the list of countries moving towards the abolition of the golden visa. Until now, the granting of a three-year residence permit in Spain required an expenditure of at least 500,000 euros on the purchase of a residence or an investment of at least 1 million euros in shares in the country or 2 million euros in Spanish government bonds.
In addition to Spain, the Netherlands has abolished it as well as Ireland while Portugal may not have abolished the “golden visa” but removed the possibility of acquiring it by buying real estate. The reason is the fact that the prices of residential and commercial properties have skyrocketed. Italy, which maintains a “golden visa” program with the usual conditions of investment of 500,000 euros and offers tax exemptions to those who use the program, also allows them to apply for citizenship after staying in the country for 10 years through the “golden visa” ».
The big business of real estate.
Net receipts for the purchase of real estate from abroad exceeded 2.1 billion euros last year, according to the data of the Central Bank. This is an amount 8% higher than in 2022 and represents 42.5% of all investments. In essence, this is hot money that came through Golden Visa.
As also pointed out in the report of the governor of the Bank of Greece, expectations for the Greek real estate market for the next period remain moderately positive, as the uncertainties related to geopolitical instability at the global level continue to be significant. In the short term, however, and as long as overseas demand remains strong, prices are expected to continue their upward trend in the high-end segment of the market, dragging down prices in secondary markets as well.
New Mytilene investment.
MYTILINEOS requested the inclusion of the investment plan for the expansion of the capacity of the industrial complex of special advanced metal structures in Volos in the special category of Strategic Investments of Enterprise Greece, submitting a relevant file.
The investment has a budget of 46 million euros and is expected to create at least 250 new direct and indirect jobs. The investment concerns new building infrastructures and mechanical equipment, which will be implemented in the company’s existing facilities in N. Ionia Volos, and new facilities that will be created in the company’s new privately-owned stadium in A’ BI.PE Volos. The aim is the production of special metal constructions.
And the Four Seasons golden dividend.
With an increase of 35.3% and a turnover of over 295 million euros, last year “closed” for Astir Pallas Vouliagmenis, which operates the Four Seasons hotel. This increase came mainly from the sales of the remaining vertical properties (plots for sale) by 29.08% as well as due to the performance of the company’s hotel unit and F&B by 5.34%.
In terms of pre-tax results, it posted profits of 159.872 million euros from 254.829 million euros in 2022. But don’t worry shareholders will get a fat dividend. And we explain ourselves. Last year in July, the board members decided to distribute an interim dividend of 103.643 million euros from the profits of 2023. The interim dividend was partially paid and now there remains an amount of 24.457 million euros which will be paid following the decision of the Annual General Meeting of shareholders in the current year.
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Source in Greek :- https://www.dnews.gr/
