Since many EU countries restrict their Golden Visa programmes, which offer permanent residency to non-European nationals for real estate investments, the Golden Visa programme in Greece is becoming increasingly popular and the country is becoming a prime destination for those seeking a home and a foothold in the European Union.
The Golden Visa programme in Greece is facing record demand in 2024, with 9,289 applications, representing over €2.32 billion in property investment. The surge, driven by revised minimum investment limits introduced in September 2024, follows a strong 2023 with 8,477 applications.
The programme offers five-year residency to non-EU citizens investing in Greek real estate, with three investment levels:
Level A: €800,000 in prestigious areas such as Athens, Thessaloniki and popular islands,
Level B: 400,000 euros in other regions,
Level C: €250,000 in commercial properties converted to residential use.
The popularity of the programme is underlined by the 1,137 applications received in December 2024 alone, in stark contrast to just 1,485 applications during 2020, the year affected by the pandemic. According to immigration investment firm Astons, applicants from the US make up at least 50 per cent of the total, attracted by the five-year residence allowance and the booming Greek housing market.
However, this surge has created a significant processing delay. As of 2024, 12,087 applications were pending, while only 4,536 permits had been issued (compared to 4,231 in 2023). This delay could change investor demographics, with fewer Chinese applicants and increased interest from countries such as Turkey, Lebanon, the US and the UK.
Despite the delay, investment interest remains high, particularly in Attica, fuelled by office and industrial conversions where the minimum investment amount is still €250,000. In addition, Spain’s potential termination of the Golden Visa programme could further redirect investment to Greece, which offers comparable lifestyle benefits and more affordable property.
“Golden Visa” or obtaining a residence permit for investment is one of the fastest and best options to become a resident of a European country: it is not only an opportunity for emigration, but also a tool for travelling, asset protection and risk diversification. The most common and profitable option for investment is the purchase of real estate: in this way you get not only a highly liquid asset and an opportunity to generate income, but also your own residence in Europe, which can be used in case of relocation.
