In a major policy shift, Spain has announced the termination of its Golden Visa Program, effective April 3, 2025. This decision, aimed at addressing the country’s ongoing housing crisis, is expected to reshape global investment migration trends. As Spain exits the residency-by-investment market, Greece is emerging as a prime alternative for wealthy foreign investors.

With Greece maintaining its real estate investment option under the Golden Visa Program, the demand for Greek residency is set to increase in 2025. Investment migration experts predict a sharp rise in applications, driven by changes in investment thresholds, growing interest from U.S. investors, and the diminishing availability of similar programs in Europe.

Greece’s Golden Visa Program: A Rising Investment Hub

Greece’s Residency-by-Investment Program has consistently attracted global investors due to its affordability and strategic benefits. Despite an increase in investment thresholds in some areas, the program remains one of the most attractive in Europe. Investors can obtain residency by purchasing real estate, with minimum investment requirements starting at €250,000 in less popular regions and rising to €800,000 in high-demand locations like Thessaloniki and the Athenian Riviera.

Key Advantages of Greece’s Golden Visa Program

• Affordable Investment Thresholds: Compared to other European programs, Greece offers competitive entry points.
• Access to the EU: Residency in Greece allows visa-free travel within the Schengen Zone.
• No Residency Requirements: Investors are not required to live in Greece to maintain their residency status.
• Attractive Real Estate Market: Greece’s property sector continues to offer strong returns on investment.

Why Demand for Greece’s Golden Visa is Rising

As Spain and Portugal tighten restrictions on their residency-by-investment programs, Greece remains one of the few European countries still offering real estate-based residency.

Key Factors Driving Growth in Applications:

• Spain’s Exit: Spain’s Golden Visa termination removes a key competitor, diverting investment interest toward Greece.
• Portugal’s Real Estate Restrictions: Portugal has discontinued real estate investment as a qualifying route for its Golden Visa, making Greece a more attractive alternative.
• U.S. Investor Surge: With increasing uncertainty in global markets, American investors are actively seeking second residency options in stable economies like Greece.

In 2024 alone, Greece recorded 9,289 Golden Visa applications, reflecting a 10% increase compared to 2023. The program has grown at an annual rate of 25% since 2018, with no signs of slowing down.

Comparing Greece’s Golden Visa to Other European Programs

Greece’s program remains competitive when compared to other European Golden Visa options.

• Portugal: Though historically popular, Portugal removed real estate investment as an option, making it less appealing to those looking for property-based residency.
• Spain: With the recent termination of its program, Spain is no longer an option for investors.
• Malta: Offers residency through investment but has significantly higher financial requirements and additional restrictions.
• Italy: Provides an investor visa but requires a larger capital commitment compared to Greece.
• Cyprus: Previously a key player in the Golden Visa sector, Cyprus has removed its most attractive residency-by-investment options.

Investment Opportunities in Greece

Greece’s property market is on the rise, making it a lucrative option for those looking to invest in real estate while securing residency. The country offers various investment choices:

• Luxury properties in Athens and Thessaloniki: These areas require a minimum investment of €800,000 but promise high returns due to tourism and rental demand.
• Coastal and island properties: With investments starting at €500,000, investors can buy villas or apartments in high-demand tourist locations like Santorini and Mykonos.
• Lower-cost regional investments: For €250,000, investors can acquire properties in less popular areas, ensuring affordability while still benefiting from Greek residency.

Legal and Policy Changes Affecting Greece’s Golden Visa

In September 2024, Greece introduced new policy changes affecting Golden Visa applicants, including:

• Higher investment thresholds in prime locations: The increase to €800,000 in major cities and islands reflects the growing demand and aims to balance the market.
• Streamlined processing times: Authorities are working to reduce waiting times for applications to ensure quicker approvals.
• Regulation of short-term rentals: Investors planning to use their properties for Airbnb-style rentals must comply with new local regulations.

The Future of Greece’s Golden Visa Program

Given the ongoing success and increasing applications, Greece is unlikely to terminate or drastically alter its Golden Visa Program soon. Instead, experts anticipate minor adjustments to further regulate the market while keeping it attractive for investors.

With Spain’s program ending and Portugal imposing more restrictions, Greece’s program is now one of the best options in Europe for those looking to secure residency through investment.

How ICC Immigration Can Help You with Immigration in Europe

For investors and individuals seeking residency in Europe, ICC Immigration provides expert guidance in navigating residency-by-investment programs. Whether you’re looking to secure a Greek Golden Visa or explore options in other European countries, our team is here to help.

Our Services Include:

• Golden Visa Applications: We assist in securing residency through real estate investments in Greece and other eligible European nations.
• Legal and Financial Consultation: Understanding the complexities of investment migration can be overwhelming. Our experts provide clarity on regulations and financial planning.
• Application Processing and Documentation: We handle the entire process, ensuring all legal requirements are met and applications are completed accurately.
• Post-Residency Support: Once you obtain your residency, we provide assistance with property management, renewals, and compliance with local laws.

Final Thoughts

The termination of Spain’s Golden Visa Program marks a turning point in the investment migration landscape, creating new opportunities for Greece to attract global investors. With its real estate-friendly residency program and strategic location in the EU, Greece is set to become the top destination for Golden Visa applicants in 2025.

For those considering residency in Europe, ICC Immigration offers expert guidance on securing investment-based residency in Greece and other nations. Contact us today to explore your best immigration options and build a secure future.