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Spain’s Golden Visa Termination Expected to Drive Interest in Greece’s Program
Greece’s Golden Visa Program Expected to See Increased Demand After Spain’s Termination
Greece’s Golden Visa Program continues to experience strong demand from wealthy foreign nationals, especially following recent changes in Spain and Portugal, where similar programs have been restricted or terminated.
Steady Growth in Golden Visa Applications
An analysis by Aston shows that from 2019 until November 2024, Greece received 8,059 Golden Visa applications. The monthly application trend for 2024 highlights:
- October: 995 applications
- November: 914 applications
- December (forecast): 778 applications
Despite investment requirement increases in September 2024, interest in the program has not declined. In key locations such as Thessaloniki, the Athenian Riviera, and major islands, the minimum investment now stands at €800,000.
Residency Through Real Estate Investment
The most popular option for Greece’s Golden Visa Program is the real estate investment route, with minimum investment amounts varying by location:
- €800,000 in high-demand areas like Thessaloniki and the Athenian Riviera.
- €250,000 in less popular regions.
Compared to Spain and Portugal, Greece remains one of the few countries offering real estate investment as a pathway to residency:
- Spain will terminate its Golden Visa Program on April 3, 2025, as part of its housing crisis management efforts.
- Portugal has already removed the real estate investment option following the approval of the “More Housing” bill.
2024 Surge in Golden Visa Applications
Figures from Imi Daily reveal that Greece received 9,289 Golden Visa applications in 2024, marking a 10% increase compared to 2023.
- The program registered an annual growth rate of 25% between 2018 and 2024.
New Changes for 2025
In December 2024, Greek authorities announced new changes to the Golden Visa Program, effective from January 2025, aiming to further regulate and optimize the scheme while maintaining its appeal for foreign investors.
With Greece continuing to offer favorable conditions and real estate investment opportunities, it is expected that the country will attract even more international investors in the coming years.
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