Stricter investment thresholds and shifting real estate trends appear to be cooling foreign demand for Greece’s once-booming golden visa program

From January to July 2025, Greece issued 17,254 Golden Visas to foreign citizens—marking a 31.4% rise since the beginning of the year.

According to figures released by the Ministry of Migration and Asylum, a total of 441 new applications were filed in June 2025, marking a 26.5% decline compared to the same month in 2024.

The report indicates that this increased demand from overseas buyers has driven up real estate prices in urban centers, with Athens, Thessaloniki, and Mykonos seeing some of the sharpest rises.

Most applications are from countries like Lebanon, Turkey, and China, with a smaller number from the United States and Israel.

As more EU countries move to scrap Golden Visa schemes, Greece’s program is experiencing renewed momentum—driven in part by Spain’s decision to terminate its own initiative.

Chinese investors, who represent the largest group of Golden Visa holders, favor long-term leasing as a strategy to secure stable income for at least three years.

Turkish investors follow the Chinese with 1,471 permits, a trend largely attributed to economic instability and political tensions in their country, pushing many to seek alternatives in Greece’s real estate market.

In its analysis, the German media outlet said investments can no longer be split across multiple properties

Properties in Central Athens and the southern suburbs are top choices for foreign investors through Greece's golden visa scheme.

Golden Visa applications in Oct. 2024 were up by 12% compared to the same month of 2023 – 12,577 to 11,229 - despite higher minimum investment set by Greek government this year

The Greek government wants to decouple the Golden Visa Program from Real Estate investments

A significant uptick from Brits and Americans has been recorded over the recent 12-month period

The cost for a Golden Visa jumped from €250,000 to as high as €800,000 on September 1, but there are still some ways for third country nationals to get a lower-cost Golden Visa.

The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.

Greek Golden Visa applications reached 2,644 in the first quarter of 2024, marking a 12% increase compared to 2023, which saw 2,364 applications

According to Greece's central bank, net revenues from property sales in the country purchased by foreign nationals in 2023 exceeded 2.1 billion euros.

A growing housing problem and the touristification of urban centers and popular islands have forced Greece to increase the limits of its popular golden visa program

The amendment aims to ensure the availability of affordable housing and to close loopholes that enabled third-country nationals to exploit golden visas for financial gain

The Greek Finance Ministry will be increasing the Golden Visa threshold to 800,000 euros for some areas. A relevant bill is expected to be tabled in parliament this week