Market Impact
According to analysts from Ekathimerini, real estate transactions related to the Golden Visa program accounted for 10.77% of the total transaction volume in monetary terms during this period. This underscores the significant interest of foreign investors in obtaining residency through real estate investments in Greece.
Key Highlights
🔹 Rising Application Numbers
▪️ In 2023, a total of 8,477 applications were submitted for residency, while in 2024, this number increased to 9,289, reflecting a steady rise in interest.
🔹 Investment Volume
▪️ The minimum required investment over the two-year period amounted to €4.44 billion, though the actual figures are likely higher, as many investors exceeded the €250,000 threshold.
🔹 Total Real Estate Transactions
▪️ Between 2023 and 2024, the total value of real estate transactions in Greece reached €41.2 billion (€18 billion in 2023 and €23.2 billion in 2024).
🔹 Program Adjustments
▪️ Recent changes to the Golden Visa program, including an expected increase in the minimum investment amount, triggered a surge in applications. However, such high transaction levels may not persist in the future.
🔹 Competitive Edge
▪️ Despite recent modifications, Greece’s Golden Visa program remains one of the few available in Southern Europe, particularly after Spain discontinued its equivalent program.
▪️ It has become especially attractive to U.S. investors, whose interest has surged by 50%.
Outlook
The Golden Visa program continues to play a pivotal role in Greece’s economic strategy, driving foreign investment and boosting the real estate sector. However, its long-term prospects will depend on legislative developments and competition from similar programs in other countries.
