As Spain prepares to phase out its Golden Visa program, global investors are shifting their focus toward alternative European residency options, with Greece emerging as a primary beneficiary. The Greek Golden Visa, which grants residency through real estate investment, is now poised to experience a surge in demand from international investors who had previously considered Spain.
Industry experts predict that Greece will absorb a significant share of investors seeking European residency through real estate, particularly as its investment thresholds remain more competitive than other EU programs.
Why Is Spain Ending Its Golden Visa Program?
Spain recently announced plans to end its Golden Visa program in April 2025, citing concerns over housing affordability and real estate market speculation. The program had previously allowed foreign investors to gain Spanish residency through a minimum €500,000 property investment, attracting thousands of applicants annually.
With the withdrawal of Spain’s Golden Visa, investors are now looking for alternative EU residency programs that offer similar benefits, particularly visa-free Schengen travel and real estate-based investment options.
Greece’s Golden Visa: A Strong Alternative for Investors
Greece’s Golden Visa program remains one of the most attractive European residency-by-investment options, offering:
•Residency through real estate investment, starting at €250,000 in select regions and €500,000 in high-demand areas like Athens, Mykonos, and Santorini.
•Visa-free travel across the Schengen Zone.
•A stable and growing real estate market with high rental yields and appreciation potential.
•Family inclusion, allowing dependents to gain residency under the same investment.
•Fast processing times, typically within 60-90 days, compared to long delays in other EU programs.
Since Spain’s announcement, investment inquiries for the Greek Golden Visa have surged, as real estate investors look to secure EU residency with a lower capital requirement and strong property market potential.
How Will the Market Shift Impact Greek Real Estate?
The expected rise in demand for Greek Golden Visas will likely result in:
•Higher property prices in Athens and Thessaloniki, as more investors shift their capital from Spain to Greece.
•Increased competition for high-value real estate, particularly in luxury areas such as the Athens Riviera and Santorini.
•More investment in secondary cities, as developers expand their focus to up-and-coming locations with growth potential.
With Greece’s real estate market already experiencing a 12-15% annual increase, the influx of former Spanish Golden Visa investors could accelerate price growth further.
Yusuf Boz’s Perspective: The Future of EU Golden Visas
Investment migration expert Yusuf Boz emphasized Greece’s strategic advantage in the post-Spanish Golden Visa era:
“Spain’s withdrawal is reshaping Europe’s investment migration landscape. Greece is now the clear frontrunner for investors looking for a cost-effective, real estate-driven residency option.”
Boz also noted the growing preference for Greece over Portugal and Spain:
“Portugal has shifted away from real estate investments, and Spain is shutting down its program. Greece remains the best choice for investors who want both EU residency and a strong property market.”
For investors who acted too late for Spain’s Golden Visa, Boz recommends immediately considering Greece before additional policy changes occur.
2025 Outlook: What to Expect for Greece’s Golden Visa?
With Spain exiting the Golden Visa market, industry analysts predict:
•A major uptick in Greek Golden Visa applications throughout 2025.
•Potential future price increases, as Greece adjusts to rising demand.
•Shorter approval windows in the near term, but longer processing times if applications surge dramatically.
•More investor interest in commercial real estate and business investment pathways, alongside traditional residential purchases.
Greece’s political and economic stability, combined with its competitive investment thresholds, ensures that it will remain one of the leading destinations for EU Golden Visa seekers.
Now Is the Time to Invest in Greece
With Spain closing its doors to Golden Visa investors, Greece has solidified its position as the top EU real estate investment residency program. However, as demand rises, prices and policy adjustments may follow, making 2025 a crucial year for investors to act.
For expert assistance in navigating the Greek Golden Visa process and securing prime real estate investments, contact NotteGlobal today to take advantage of current opportunities before further changes take place.
