Greece's Golden Visa: Growing Popularity and New Market Realities

Greece’s Golden Visa, a program for obtaining a residence permit through investment in real estate, is going through a turbulent but controversial period. Despite an unprecedented increase in the number of applications in 2024, the approval rate has dropped sharply, creating new challenges for potential investors. Let’s take a closer look.

2024 was a record year for the number of applications submitted for the Greek Golden Visa. However, only 1,617 applications were approved – almost three times less than the year before. This indicates that the Greek authorities are tightening the requirements, probably seeking to improve the quality of investments and prevent speculation. Applications are processed within 18 months, which in practice means a long wait for a decision. At the beginning of 2025, a staggering 49,300 applications were pending, 82% of which were submitted in 2024. This delay may be due to both an increase in the number of applications and stricter checks.

The geography of investors is also interesting. More than half of the applications come from Chinese citizens, followed by Turkey and Lebanon. This reflects global investment trends and the popularity of the Greek program among citizens of these countries.

The investment threshold for obtaining a residence permit depends on the type of property. For properties under renovation, €250,000 is enough, for completed properties – €400,000. However, in popular regions such as Attica (including Athens), Thessaloniki, Mykonos and Santorini, the cost of real estate is significantly higher – from €800,000 and up. Over the past two years, every tenth real estate transaction in Greece was related to the Golden Visa program, which indicates a significant impact of the program on the Greek real estate market. The total investment volume during this period reached an impressive €41.2 billion.

In the conditions of growing competition and stricter requirements, it is important to turn to proven specialists.

Searching on your own can take a lot of time and lead to undesirable consequences.

Companies specializing in investments in Greek real estate, such as Mercury Group, offer an exclusive catalog containing hundreds of verified properties of various types and price categories.

Benefits of turning to professionals:

• Saving time and resources: Specialists will undertake the search, verification of documents and legal support of the transaction.
• Access to exclusive offers: Companies often have access to properties that are not presented on the open market.
• Transaction security guarantee: Professionals will ensure the legal purity of the transaction and protect your investment.
• Assistance in choosing the optimal property: Experts will help you determine the most suitable property, taking into account your investment goals and budget.

Choosing real estate for obtaining a Golden Visa is a serious decision that requires a careful approach. Turning to professionals, such as Mercury Group, will help minimize risks and increase the chances of successfully obtaining a Greek residence permit. Villas, houses by the sea, spacious apartments - the choice is yours. Contact us and we will help you find the perfect property to achieve your goals.