The submission of residence permit applications through Greece‘s Golden Visa program continues at an intense pace, with data revealing that the initiative primarily attracts foreign investors purchasing real estate for investment purposes rather than for personal use.
According to market experts specializing in the Golden Visa program, the majority of these properties are utilized through long-term leases, ensuring financial stability for both investors and the local market.
Notably, only 6% of foreign investors who have acquired a Golden Visa use their properties for personal residence, while the remaining 94% opt for long-term rentals.
Chinese investors, who represent the largest group of Golden Visa holders, favor long-term leasing as a strategy to secure stable income for at least three years.
As per data from the Ministry of Migration, as of February 2025, Chinese nationals continue to dominate the Golden Visa residency permits, holding 6,520 permits. This trend underscores Greece’s strategic significance as a gateway to Europe.
Turkish investors follow in second place with 1,471 permits, a phenomenon attributed to economic instability and political tensions in Turkey, prompting many to explore the Greek real estate market as a safe investment alternative.
Recent legislative changes have raised the minimum investment threshold to 800,000 euros for high-demand locations such as Attica, Thessaloniki, Mykonos, and Santorini, while in other areas, the threshold is set at 400,000 euros.
Consequently, industry insiders report that investors are now turning to industrial properties, warehouses, and office spaces, with the goal of converting them into modern residential units priced at 250,000 euros, a significantly lower entry point compared to the new 800,000 euros threshold.
Under the revised Golden Visa regulations, the 250,000-euro minimum remains applicable to industrial buildings or sections converted into residential units, as long as they have not been used for industrial purposes in the past five years and the conversion is completed before the visa application.
Similarly, the same threshold applies to listed historic buildings intended for restoration or redevelopment, provided the restoration is completed before submitting the visa application.
