A recent study conducted for international real estate experts Astons reveals that Greece is the most popular country (19%) for those considering investing in an alternative residency among Britons with investable assets over £1 million, CEO World magazine reported on Monday.
The study provides insight into the motives of investors in a post-Brexit world: 79% of wealthy investors responded that Brexit had not increased their likelihood of seeking residency or citizenship abroad, while 21% responded that it had. When asked about the primary motivator behind such a decision, 68% cited the potential improvement in quality of life for their families.
Greece’s top spot can be attributed to a variety of factors, according to the report. Firstly, the Greek property market is more affordable than that of the UK and comes with a more favorable climate. Acquiring residency in Greece can be achieved within two months with a relatively low minimum investment of just £217.252 (250,000 euros), and Greek residence offers visa-free travel to all Schengen Zone states.
“Greek residency is proving particularly popular at present, as a strong combination of family-centered culture, great quality of life, a quick route to residency and overall affordability, all resonate strongly amongst UK investors,” CEO World quoted Astons Managing Director Arthur Sarkasian as saying.
Tied with Antigua and Barbuda for second place in investor interest is Spain with 11%, with Ireland following with 8% and finally Italy, Portugal, Malta, Switzerland are among the countries tied at 6%.
A version of this article was first published on ekathimerini.com