Greece’s Golden Visa Program Becomes a Prime Magnet for Foreign Investors

As global interest in European residency programs continues to grow, Greece’s Golden Visa program has solidified its position as one of the most attractive options for foreign investors seeking access to the European Union.

Launched in 2013, the program allows non-EU nationals to obtain a five-year renewable residency permit in exchange for a qualifying real estate investment. Initially praised for its simplicity and accessibility, the program has since evolved into a key driver of foreign capital inflow into Greece’s real estate sector.

Surge in Foreign Interest and Demand

Over the past few years, Greece has experienced a sharp increase in Golden Visa applications, with 2024 breaking new records. According to official statistics, the number of permits issued has risen significantly—especially from countries such as China, Turkey, Lebanon, and the United States.

Foreign investors are particularly drawn to the relatively low investment threshold of €250,000, which remains one of the most affordable in Europe. Although certain high-demand areas like Athens, Thessaloniki, Mykonos, and Santorini now require a minimum of €500,000, Greece’s program is still considered competitive when compared to other Golden Visa schemes in the EU.

Economic Impact on Real Estate and Tourism

The Golden Visa program has been a major contributor to Greece’s post-crisis economic recovery, especially in the real estate and tourism sectors. Demand from foreign investors has led to the renovation of old buildings, an increase in property values, and the revitalization of neighborhoods in central Athens and beyond.

Real estate developers have adapted their offerings to cater to investor expectations—many properties are now marketed as “Golden Visa eligible,” with services like property management and legal support included.

The surge in investment has also had a ripple effect on tourism, as Golden Visa holders often use their Greek properties for extended stays or short-term rentals. This dual-purpose usage boosts local economies and supports small businesses in hospitality and retail.

A Path to European Residency and Citizenship

One of the main reasons investors choose Greece is its location within the Schengen Area, offering visa-free travel to 27 European countries. Additionally, while there is no obligation to reside in Greece full-time, Golden Visa holders can apply for permanent residency and eventually citizenship—provided they meet the necessary legal requirements, including living in the country for seven consecutive years.

For families, the program’s ability to include spouses, children under 21, and dependent parents makes it especially appealing. Investors see it not only as a real estate deal but as a strategic move to secure mobility, education opportunities, and long-term security for their families.

Regulatory Enhancements and Digitalization

The Greek government has implemented several improvements to the program in recent years. These include streamlining the application process through digital platforms, introducing stricter anti-money laundering (AML) checks, and increasing transparency in the approval process.

Despite concerns about potential overheating in the housing market, officials maintain that the program is well-regulated and serves both the state’s and investors’ interests.

Looking Ahead: Strong Prospects for 2025

With countries like Spain phasing out their Golden Visa programs and Portugal tightening regulations, Greece is becoming a top choice for global investors seeking a secure, transparent, and affordable path to European residency.

Real estate analysts predict continued demand throughout 2025, especially in emerging investment zones and second-tier cities where the €250,000 threshold still applies.

Experts suggest that investors act quickly, as further regulatory adjustments may raise the minimum investment or restrict qualifying property zones.