Greek Golden Visa – Residency by investment

The Greek government first launched their Golden Visa programme in 2013, aiming to stimulate foreign direct investment, boost the real estate market, and attract affluent individuals and families to Greece. The programme has undergone several legislation changes in recent years as the Greek real estate market has matured, but investors can still secure permanent residency rights in Greece via a minimum €250,000 investment into qualifying property.

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Benefits of the Greece Golden Visa

  • Attractive property options: Possibility to invest into prime areas, low density areas and on the Greek islands. Real estate options range from stand-alone properties to managed hands-off property investments that are fully managed for your peace of mind
  • Family benefits: Investors can include a spouse, partner, minor children, financially dependent adult children under the age of 21. Parents can also be included on an application with no dependency requirement
  • Growing property market: Investors can expect steady rental returns and to benefit from projected growth within the real estate market over time
  • Joint property ownership with spouse: Property can be owned 50/50 between the main investor and a spouse simplifying succession process
  • No annual minimum stay: Retain Greek permanent residency rights with full flexibility. No forced requirement to travel to Greece each year
  • Nominal government fees: No excessive government submission and approval fees are levied on Golden Visa applications
  • Freedom of movement: Greek residents enjoy visa-free leisure travel throughout the Schengen area
  • Long-term residency: Residency cards issued for five years at a time, and can be renewed indefinitely for as long as the property is owned

Greece Golden Visa: Qualifying investment paths

  • €250,000 investment into a property undergoing a full restoration or reconstruction and “change of use”. Rezoning of commercial / industrial property for residential use. Qualifying properties can be in prime or low-density areas.
  • €400,000 investment into real estate in low-density areas.
  • €800,000 investment into real estate in prime areas (Athens, Thessaloniki and on all islands which have a population of 3,100+ inhabitants)

Why invest in Greek real estate

Rated by The Economist as the top-performing economy in 2023, Greece offers investors a wealth of opportunity. Positive economics combined with real estate market growth since 2018 are all indicative of a stable and maturing property market.

The price per square meter of residential property in prime areas in Greece is significantly less expensive than other popular European destinations ensuring that Greece maintains an attractive price advantage. This price differential, up to 50% less, ensures that investors can benefit from capital appreciation potential and competitive yields.

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Long-term factors to consider

  • The lack of available loans on property purchases provides a barrier to entry. If this changes, as it has done in other European countries, we can expect a sharp increase in property value.
  • Efficient systems in place for property management, stabilising asset maintenance post investment.
  • Greece offers great rental yields in prime cities and locations.
  • Greece is a multinational country with a strong cultural backing.

All considered, it's easy to see why Greece is a hotspot for investment and why it might see a positive growth phase in years to come.

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Disclaimer: Please do not act in reliance on information published or advised without consulting a suitably qualified independent legal or other professional advisor of your own choosing. Sable International will not be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of their use or reliance on any of the advice provided by any one or all of the professional advisors identified by Sable International; loss or damage suffered by any person as a result of changing government legislation; and/or changing rules around immigration and nationality. Obtaining residency and citizenship is at the sole discretion of the government in question and cannot be guaranteed by Sable International.