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“Golden Visa” is no longer appealing.
The decline coincided with the tightening of the rules of the program “golden visa” – a key driver of demand from foreigners, reports Ekathimerini. The authorities raised the minimum investment threshold to 400-800 thousand euros and limited the possibility of renting out real estate. This has changed the structure of demand: income-oriented investors are replaced by buyers who purchase housing for personal use.
The pressure on the market is intensified by other factors – rising prices in popular tourist regions and deteriorating economic situation in the countries where the main flow of buyers traditionally came from.
How investor demand fell
Investments from outside the EU have fallen especially noticeably – by 30.6%, to 1.2 billion euros. The number of applications for a “golden visa” fell by a quarter – to 7,031 against 9,414 a year earlier.
Investor activity related to the Chinese market declined the most, with investments from China, Hong Kong and Singapore falling by 55.8% to €202 million. Investments from Turkey (-27%), Israel (-31.7%), the US (-32.8%) and the UAE (-31%) also declined. British buyers reduced investments by 10%, to 63 million euros.
Elxis – At Home in Greece estimates that the negative dynamics will continue in 2026: demand for the “golden visa” has already decreased by 83% compared to 2025.
Against this background, the program is gradually losing its status as an “affordable entry” to the EU and shifting towards wealthier buyers. One of the few exceptions are the renovation projects, where the investment threshold still starts from 250 thousand euros.
