3/12/2026
Investments estimated at approximately €3.5 billion were directed into the Greek real estate market during 2024–2025through the Golden Visa program. The recent regulatory changes introduced to limit the program’s impact on the housing market temporarily triggered a significant surge in investor interest.
In 2025, a total of 8,879 new residence permits were approved under the program, representing a 95% increasecompared to the 4,535 permits granted in 2024. By the end of the year, however, there were still 9,958 pending applications, meaning that nearly 10,000 investors had already purchased property and were awaiting the processing of their residence permits.
Following the implementation of the new rules, the pace of new applications has slowed considerably, as the program gradually returns to its more typical levels of demand. During 2025, 7,031 new applications were submitted in total. Excluding the first quarter—when investors rushed to secure permits under the previous, lower investment thresholds—the number drops to 4,099 applications.
In January of this year, data from the Greek Ministry of Migration and Asylum recorded just 398 new applications, one of the lowest monthly figures in the past twelve months.
During the previous year, investors from Turkey and Israel emerged as the most active participants in the program. Residence permits granted to Turkish investors increased by 160%, reaching 3,291 permits compared to the end of 2024 (excluding renewals). Similarly, permits granted to Israeli investors rose by 91.5%, totaling 636 permits.
The largest investor group remains Chinese nationals, who recorded a 53.7% annual increase, bringing the total number of residence permits granted to 9,926.
The strong increase in demand from Turkey, which now ranks as the second-largest investor group, can be attributed to several factors. Geographical proximity and extremely high inflation in the Turkish economy are among the most important reasons. Many middle- and upper-class Turkish investors seek to protect their wealth from currency depreciation, and real estate investments abroad are considered a safe option. In addition, the Greek residence permit allows visa-free travel within the Schengen Zone, making Greece particularly attractive for Turkish investors.
At the same time, ongoing geopolitical tensions in the Middle East, including conflicts involving Gaza, Iran, the United States and Israel, have further increased demand for overseas investments. Israeli investors were among the first to respond, which partly explains the strong increase in permits granted in 2025, as the entire process—from property search and purchase to residence permit approval—can take at least 18 months.
Market professionals also expect investment flows from Iran to increase further. This trend was already visible in 2025, when residence permits granted to Iranian investors rose by 52.5%, reaching 816 permits. Iranians now represent the fourth-largest investor group, following Chinese, Turkish and Lebanese nationals, who have long shown interest in the Greek property market.
Significant increases were also recorded among investors from the United States and the United Kingdom. Permits granted to U.S. investors increased by 49% to 578, while those issued to British investors rose by 46.5%, reaching 797 permits.
In the case of the United States, demand is driven partly by Greek diaspora communities, particularly second- and third-generation Greek-Americans seeking to purchase a home in their country of origin. In addition, political factorsfollowing the election of President Donald Trump have also motivated some Americans to explore alternative relocation or investment options abroad.
Source: https://www.capital.gr/oikonomia/3978503/xrusi-biza-apo-tourkia-israil-kina-kai-iran-oi-perissoteroi-ependutes-to-2025/?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwdGRjcAQbUqdleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEeT-8DLgapuNav-fTYMD2Hi1MJUoVagrw3A0eHCnjb5dv0deXcIQR9Ndr8Jek_aem_4bbTfua_k7qKLXhhmas3og#Echobox=1773034593