Five Nations Account for the Lion’s Share of Greece’s Golden Visa Surge
Investors from Turkey, Israel, China, Iran, and the US dominated Greece’s Golden Visa residency-by-investment program in 2025, fueled by economic volatility, regional conflict, and growing security concerns.
Approvals for new residence permits skyrocketed to 8,879 last year, representing a 95% increase over the 4,535 permits granted in 2024.
Market analysts attribute this surge to the “safe haven” appeal of Greek residency. For many, the primary drivers include wealth preservation, political stability, and the long-term safety of their families.
Golden Visa demand
Turkey: Applications rose by 160%, reaching 3,291 permits (15.9% of the total). High-income Turks utilized Greek real estate to hedge against domestic inflation and secure visa-free movement within the Schengen Area.
Israel: Approvals climbed 91.5% to 636, largely driven by the ongoing conflict in Gaza and a desire for proximity to a secure European base.
China: Though their relative share has dipped from historic highs of 70%, Chinese nationals remain the largest group, holding 47.9% of all permits with nearly 10,000 approvals.
Iran: Amid domestic unrest, Iranian permits saw a 52.5% increase, totaling 816 for the year.
US: Golden Visa approvals for US citizens reached 578 by December 2025, up from 388 in December 2024—a 49 percent annual rise in total approvals for American nationals.
The 2026 Golden Visa requirements
As of 2026, the Greek government has implemented a more structured tiered system to balance foreign investment with the local housing market. Below are the current requirements explained in detail.
1. Real Estate Investment Tiers
Instead of a single price for the whole country, Greece now uses three distinct zones based on demand and location:
The €800,000 Tier (Prime Zone): This applies to the most sought-after areas, including the entire Administrative Region of Attica (Athens and Piraeus), Thessaloniki, Mykonos, Santorini, and any island with a population exceeding 3,100 inhabitants. To qualify here, the investment must be in a single property with a minimum size of 120 square meters.
The €400,000 Tier (Standard Zone): This covers all other mainland regions (such as the Peloponnese) and smaller islands. Similar to the Prime Zone, the investment must be in a single property of at least 120 square meters.
The €250,000 Tier (Special Exemption): This “incentive” rate is available nationwide, regardless of location or property size, but only for two specific types of projects:
Commercial-to-Residential Conversion: Purchasing a commercial building (like an office or warehouse) and legally converting it into a home.
Listed Buildings: Purchasing and fully restoring a building of historical or cultural significance.
2. Strict usage restrictions
To protect local renters, the 2026 rules introduced significant limitations:
No Short-Term Rentals: Properties purchased under the Golden Visa program cannot be listed on platforms like Airbnb or Booking.com. They may only be used for long-term traditional leasing.
No Company Headquarters: The property cannot be used as the registered legal office of a business.
Penalty: Violating these rules can lead to a €50,000 fine and revocation of the residence permit.
If real estate isn’t the preferred route, investors can qualify through:
€500,000 in Greek Government Bonds, bank deposits, or shares in Greek real estate investment companies (REICs).
€250,000 in a Greek startup registered with Elevate Greece, provided the investment creates at least two new jobs.
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