Theodoros Kioutsoukis, President at Mercan Greece: "Promoting investment opportunities beyond traditional hotspots, can help distribute growth and attract a wider investor base"

As global interest in residency-by-investment grows, Greece is stepping into the spotlight. In this interview, Theodoros Kioutsoukis, President at Mercan Greece, highlights why Greece’s Golden Visa program is gaining traction, how it compares to others in Europe, and what sets Mercan’s projects apart. From the Wyndham Corfu Acharavi Hotel to the newly launched Keranis Residences in Piraeus, Mercan is delivering strong investment opportunities focused on international standards and long-term value.

The Greek Golden Visa program has existed since 2013. However, now it seems to be more attractive for investment. Why?

Indeed, while the program has been in place since 2013, recent global developments have significantly increased its appeal. The post-pandemic shift in lifestyle priorities, geopolitical instability in various regions, and growing interest in flexible living and mobility have all contributed to heightened demand. Additionally, Greece’s improved infrastructure, strong tourism recovery, and upward trends in the real estate market have positioned the country as a stable and promising destination for investors. Policy refinements and streamlined processes have also made the program more accessible and attractive.

How does the Greek Golden Visa program compare to similar programs offered by other EU countries?

The Greek Golden Visa stands out for its relatively low investment threshold—starting at €250,000 in certain areas—compared to programs in countries like Portugal or Spain, where the minimum investment is generally higher. Moreover, Greece does not impose a minimum stay requirement, allowing investors to maintain their lifestyle flexibility. The combination of residency rights, visa-free Schengen travel, and access to high-quality lifestyle options makes the program competitive. With rising property values and demand for Greek real estate, the investment potential also remains strong.

How can Greece capitalize on the recent increase in demand for residency by investment programs?

Greece can leverage the recent increase in demand for residency-by-investment programs by continuing to streamline application procedures, improving digital services, and maintaining transparency and predictability in regulations. Promoting investment opportunities beyond traditional hotspots—such as in secondary cities or on developing islands—can help distribute growth and attract a wider investor base. Moreover, aligning the program with broader economic goals, such as sustainable tourism, green development, and digital transformation, will help Greece derive long-term value from these investments.

Additionally, Greece can highlight the unique features of its €250,000 Golden Visa tier, which remains one of the most affordable in Europe. Investors still have access to this lower threshold by:

• Converting commercial properties into residential use, which supports urban renewal and creates new housing opportunities.
• Renovating listed historical buildings, aligning investment incentives with heritage preservation and sustainable development goals.

By promoting these targeted investment options, Greece can attract investors who are interested not only in residency but also in contributing to the country’s cultural, environmental, and economic revitalization.

What are the opportunities for the real estate market in Greece?

The Greek real estate market presents a wide spectrum of opportunities. Beyond the obvious tourism-driven segments like hotels and vacation rentals, there is growing interest in urban regeneration, residential complexes, and mixed-use developments. The demand for high-quality residences suitable for digital nomads, retirees, and expatriates is rising. Additionally, infrastructure improvements, EU-funded development projects, and increasing foreign interest continue to support a healthy trajectory for both capital appreciation and rental yields.

Mercan has made its debut in Greece with Corfu Acharavi Hotel (soon to be Wyndham Corfu Acharavi). What are the expectations for this recently opened hotel?

We are very optimistic about the Wyndham Corfu Acharavi. Corfu remains one of Greece’s most visited islands, and Acharavi offers a unique blend of authenticity and accessibility. Backed by Wyndham's global standards and brand recognition, the hotel is expected to perform strongly in both occupancy and guest satisfaction. It caters to the growing demand for upscale, reliable accommodation in the Ionian islands and contributes to Mercan’s vision of delivering high-value, sustainable tourism assets in prime locations.

All Mercan projects have the signature of international brands and Greece isn’t an exception. Why rebrand Corfu Acharavi with the Wyndham signature?

Rebranding under Wyndham aligns with our strategy to partner with internationally recognized hotel brands that bring not only strong operational standards but also vast loyalty networks. For investors, brand affiliation enhances the asset’s long-term value and profitability. For guests, it offers assurance of quality and consistency. Wyndham's global reach and strategic interest in Greece also make it a natural fit for the Corfu project and for our future developments in the country.

We have recently launched the Keranis Residences, the second project under the Golden Visa Program. What are the benefits of this property in Piraeus?

Keranis Residences offers a compelling investment opportunity under Greece’s Golden Visa Program, combining strategic location, modern design, and comprehensive amenities. Situated in Piraeus, a rapidly transforming port district of Athens, the development provides excellent connectivity to the capital, the Aegean islands, and major infrastructure hubs. The property features modern residences designed for urban living, appealing to both end-users and long-term investors. It qualifies for the Golden Visa program, making it a smart option for those looking to secure residency while investing in an up-and-coming area.

Key Amenities of Keranis Residences:

• Fully Furnished Apartments: The development comprises 408 residential units ranging from 44 to 69 square meters, including studios, one-bedroom, and two-bedroom apartments, all furnished to contemporary standards.
• Recreational Facilities: Residents have access to a state-of-the-art gym and leisure areas, including a courtyard designed for relaxation and social interaction.
• Dining and Retail Options: The complex includes a variety of cafes, restaurants, a rooftop garden bar, and retail stores, providing a vibrant community atmosphere.
• Office Spaces: Administrative and office spaces are available, catering to professionals seeking a strategic business location within the complex.
• Connectivity: Located just 20 minutes from Athens city center, the development is within walking distance of major transit hubs, including tram and metro stations, and is close to the Piraeus Passenger Terminal and the University of Piraeus.

Investment Highlights:

• Golden Visa Eligibility: The project qualifies for Greece’s Golden Visa Program, allowing investors to obtain residency with a minimum investment of €250,000.
• Guaranteed Returns: Investors are offered a 3% guaranteed annual return over 10 years, with an estimated capital appreciation of 4–7% per year.
• Professional Property Management: The development offers property management services, ensuring secure and attractive returns for investors.

Keranis Residences stands as a landmark development in Piraeus, blending modern urban living with strategic investment opportunities, all within the framework of Greece’s attractive Golden Visa Program.

What are Mercan Group's plans for expansion in Greece?

Greece is a strategic market for Mercan, and we are actively exploring opportunities in both the hospitality and residential sectors. Our roadmap includes new hotel developments on the mainland and islands, as well as urban residential projects in Athens and Thessaloniki. We are committed to creating high-quality, brand-affiliated assets that align with both investor demand and local development goals. By leveraging our experience in markets like Portugal and Canada, we aim to contribute meaningfully to Greece’s investment landscape in the years ahead.