In 2023-2024, every tenth real estate transaction in Greece involved the buyer's participation in the Golden Visa program, that is, obtaining an investment residence permit.
A total of 9289 applications for golden visas were submitted in 2024, and 8,477 in 2023. Thus, the number of requests in the last two years has reached a record.The Golden Visa program for Greece offers a residence permit to citizens of non-EU countries (except for citizens of Russia and Belarus without a second passport) in exchange for investments in the economy.The most famous version of this program is investing in real estate.However, last year, trying to cope with the housing crisis, Greece decided to increase the minimum amount required to participate in the Golden Visa. In some areas, it is now 800,000 euros.
The investment boom in the last two years has been due to the fact that foreigners have sought to take advantage of the scheme before the changes take effect. The volume of investments under the program is likely to decrease starting this year.Source: SchengenNews
