Greece’s Golden Visa program continues to attract foreign investors, with rising thresholds and shifting policies reshaping the real estate market.Credit : Shutterstock, Alexandros Michailidis
A growing number of overseas investors are snapping up property in Greece to secure the country’s coveted Golden Visa.
Recent figures reveal that over ten per cent of all real estate transactions in the 2023–24 period were linked to this residency-by-investment route, underlining Greece’s appeal as a prime destination for those seeking both a home and a foothold in the European Union.
Greece’s Golden Visa: Real estate takes centre stage
According to data from the Hellenic Property and Investment Authority, total property deals in 2023 and 2024 reached around €41.2 billion, with at least €4.44 billion attributed to Golden Visa applicants. In 2023, 8,477 people applied for residency, a figure that rose to 9,289 the following year. Although each investor was expected to spend at least €250,000 on real estate, many poured in even more, boosting overall market values. Observers say the spike reflects buyers hurrying to complete purchases before new regulations came into force.
Golden Visa rules tighten: Higher investment, new focus
The Greek government recently increased the minimum investment requirement to €800,000 in certain high-demand areas, hoping to address the housing crisis and encourage more diverse economic contributions. As a result, analysts predict fewer real estate-driven applications in the near future. Yet the Greek Golden Visa may still flourish, partly due to changes elsewhere in Europe—such as Spain’s move to abolish its own Golden Visa scheme and Portugal’s decision to remove real estate from its programme. Industry experts say these developments could send more international investors Greece’s way, particularly from the United States and Asia.
The Greek authorities have also indicated a desire to attract more productive ventures, with new incentives outlined in the draft budget for 2025. While the property market remains a key attraction for foreign investors, the government’s evolving strategy suggests that real estate will soon share the spotlight with a broader range of investment opportunities.
Find more news about Greece
