Greece’s Golden Visa Applications Surge by 12% in October:

Record-Breaking Applications in Greece’s Golden Visa Program

Greece’s highly sought-after Golden Visa program recorded a 12% increase in applications in October 2024, reaching a total of 12,577 new applicants. The primary applicants came from:

• 51.8% from China,

• 8.9% from Turkey,

• 5.7% from Lebanon.

These statistics highlight the program’s sustained appeal among international investors.

Yusuf Boz, founder of NotteGlobal and an expert in international investments, emphasizes why Turkish investors find Greece’s Golden Visa program attractive. According to Yusuf Boz, the program offers:

• Euro-based real estate investments,

• Visa-free travel within the Schengen Zone, and

• High quality of life in Greece.

Why Are Turkish Investors Increasingly Interested in Greece?

Commenting on the trend, Yusuf Boz stated:

“Greece’s Golden Visa program stands out due to its relatively low investment threshold and the freedom of movement it offers within Europe. Given Turkey’s current economic challenges and high inflation, Euro-based investments present a safer and more profitable option for Turkish investors.”

However, recent changes in the program have raised the minimum investment amounts. As of August 31, 2024, the minimum investment is now:

• €800,000 in Athens, Thessaloniki, and select islands.

• €400,000 in other regions.

While these increases may seem restrictive, Yusuf Boz advises investors to explore opportunities in alternative regions:

“Investors should consider regions outside major cities where the minimum investment remains €400,000. These areas still offer significant profit potential.”

Time to Reassess Investment Strategies

Yusuf Boz encourages investors to reassess their strategies in light of these new thresholds. Options such as converting commercial properties into residential use remain viable and potentially profitable.

Additionally, Greece’s Golden Visa program extends residency rights not only to investors but also to their family members, making it an excellent long-term investment and relocation plan. By leveraging these benefits, investors can secure their future while enjoying visa-free travel across Europe.