Greece has experienced a notable rise in investments through its Greece Golden Visa program, with nationals from the UK, US, and Israel leading the surge. This trend underscores the growing appeal of Greece as a top destination for foreign investors seeking European residency amid global uncertainties.
Factors Behind the Increase in Investments
1. Post-Pandemic Recovery and Global Instability
The aftermath of the pandemic and ongoing economic pressures have pushed investors to seek second residencies as a “Plan B.” Greece’s Golden Visa program, with its relatively low investment threshold and visa-free Schengen access, remains a highly attractive option for those from countries facing political or economic uncertainties.
2. Higher Investment Threshold in Key Regions
Greece’s recent decision to raise the minimum investment threshold from €250,000 to €500,000 in prime cities like Athens, Thessaloniki, and popular islands created a rush of applications before the new rules took effect. However, investments in rural and less densely populated areas still qualify at the lower threshold, further appealing to those seeking more affordable entry points.
3. Lifestyle and Economic Advantages
Greece offers a blend of cultural richness, Mediterranean climate, and real estate growth opportunities. This makes it particularly popular among nationals from the US and the UK, who seek both lifestyle upgrades and long-term financial returns.
Yusuf Boz, founder of Notte Global, commented on the trend:
“The demand from the US and UK isn’t surprising. Greece’s real estate market presents an opportunity to secure high-value properties at competitive prices compared to other European capitals. For Israeli investors, Greece’s proximity and cultural ties make it a natural choice.”
Golden Visa’s Global Appeal
The report also highlights that Greece’s Golden Visa program remains one of the most affordable in Europe, especially in comparison to programs in countries like Portugal and Spain, where regulatory changes have tightened investment options.
Boz emphasized the importance of acting before further regulatory updates:
“With ongoing changes in European residency programs, early action is key. Greece’s combination of flexibility and lifestyle benefits continues to set it apart from its peers.”
Future Implications for the Greek Real Estate Market
The surge in Golden Visa applications is expected to have a lasting impact on Greece’s real estate market:
•Price Increases in Key Regions: Continued demand from foreign buyers may lead to further price hikes, especially in Athens and coastal cities.
•Development Opportunities: New residential and commercial projects are likely to emerge in response to increased investor interest.
