For many years, the Greek Golden Visa program was considered one of the most accessible residency-by-investment schemes in Europe. It allowed non-EU citizens to obtain a residence permit through real estate investment without the obligation of permanent residence in Greece. However, growing demand has recently led to significant changes.
How the Program Worked Before/ Why the Law Was Revised
Previously, the minimum investment required for the Greek Golden Visa was €250,000. This low threshold made Greece especially attractive to foreign investors seeking an EU residence permit combined with a relatively affordable property purchase.
In recent years, interest in the Golden Visa program increased sharply. A large number of foreign buyers entered the Greek real estate market, particularly in Athens, Thessaloniki, popular islands, and other tourist destinations.
At the same time:
short-term rentals through platforms such as Airbnb expanded rapidly;
property prices rose significantly;
access to housing became more difficult for local residents.
As a result, the Greek government decided to revise the program in order to ease pressure on the real estate market and protect housing availability for citizens.
Since 2024, Greece has introduced a tiered investment system:
€800,000 for high-demand areas, including central Athens, prime locations, and popular islands;
€500,000 for other developed regions;
€250,000 remains available only in specific cases, such as investments in properties requiring renovation.
These changes make the program more selective, especially in highly sought-after locations.
New Investment Thresholds/Who Is Investing in Greek Real Estate
According to recent data, the most active participants in the Golden Visa program come from:
China
Russia
the Middle East
Turkey
Asian countries
The strong presence of international buyers has been one of the main drivers of price growth in the Greek property market.
The Greek Golden Visa remains attractive, but it now:
What This Means for Investors
• targets higher-value investments;
requires careful location selection;
is better suited for those viewing real estate as a long-term investment, rather than only a pathway to residency.
The tightening of the Golden Visa rules reflects changes in the Greek housing market. The program has not been discontinued, but it has become more structured and selective. Before proceeding, investors should carefully review the new requirements and assess their financial strategy.
