Golden Visa losing its shine?

• 10 December, 25

Latest data from the Greek Ministry of Migration and Asylum shows a continued decline in applications for Golden Visa residence permits. In October 2025, only 458 applications were submitted — a 49% drop compared to the same month in 2024. From January to October 2025, the total number of applications reached 6,212, down about 12% year-on-year (7,052 last year).

During 2023–2024, Golden Visa applications surged, largely due to multiple government increases to the minimum investment threshold, especially in Attica, the most popular region for real estate investments. While the market has since stabilized, a significant backlog remains. There are still 10,946 initial investor residence permits pending, with processing times now expected to exceed one year.

Sharp Increase in Newly Issued Visas

As the government continues to clear the backlog, Greece issued 7,156 new initial investor residence permits in the first ten months of 2025 — a 109% increase from 3,414 during the same period last year.

Since the launch of the Golden Visa program up to October 2025, Greece has approved 25,573 investor permits (including renewals), while 12,910 applications remain under review. If all pending cases are approved, the total number of permits will reach 39,009, excluding accompanying family members.

Foreign Investment Exceeds €6.4 Billion, Expected to Surpass €9.1 Billion

Official data shows that the Golden Visa scheme has already brought around €6.44 billion in foreign capital into Greece. When including investment linked to pending applications (estimated at at least €2.73 billion), the total investment volume could exceed €9.17 billion.

The program continues to inject substantial liquidity into Greece’s real estate market and related sectors, including property sellers, developers, and agencies.

Cre: Ekathimerini