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Investor Interest in Greek Golden Visa Reaches New Heights

Investor Interest in Greek Golden Visa Reaches New Heights

The allure of Greece’s Golden Visa program, offering five-year residency permits, continues to draw a significant number of applicants. In the early months of this year alone, the program received 1,299 new applications, slightly more than last year’s count in the same period. Since its inception, the initiative has facilitated the acquisition of around 24,000 properties valued at a total of €6 billion.

These properties, tied to investment in real estate, ensure investors not only a piece of Greek real estate but also valuable residency rights. The recent legislative amendments expedite the application process until the end of August, allowing investments under the existing more favourable conditions. Post-August, the program will still accept new applications, but with updated criteria aimed at streamlining the process and mitigating adverse impacts from rapid policy shifts.

The Golden Visa program is credited with infusing substantial investment into the Greek housing market, supported by data from the Migration and Asylum Ministry indicating that last year alone, 4,444 permits were approved, correlating with 1.1€ billion in real estate investments. This trend is expected to continue robustly for the foreseeable future, reinforcing the program’s role in enhancing Greece’s economic landscape through foreign investment.

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