Turkish and Israeli citizens are emerging as leading investors in Greece’s “Golden Visa” programme, sharply increasing real estate purchases that grant them residence permits, official data showed.
By the end of July, 2,449 initial investor permits had been issued to Turkish nationals, a 152% jump from 970 a year earlier, according to the Migration Ministry. The surge followed rule changes that pushed buyers to act quickly before a higher minimum threshold of €800,000 came into effect in parts of Greece including Attica, Thessaloniki and larger islands. Turkey’s economic difficulties have also played a role in driving demand.
Israeli investors also showed a strong increase, with permits nearly doubling to 510 from 260 last year. Analysts attributed the rise to insecurity caused by the war in Gaza, prompting more Israelis to channel funds into Greek property.
Investment from the United States rose by 52% year-on-year to 518 permits, while British investors recorded a 50.8% increase to 706 permits. Both groups are expected to expand further as authorities process a backlog of 11,887 pending applications. Officials noted that U.S. demand accelerated from mid-2024, coinciding with political changes in Washington.
Chinese investors, historically the largest group in the programme, showed slower growth, with permits up 14.7% to 8,179 from 7,128 last year.
Since its launch, 23,221 investors have obtained permits under the scheme, including 17,254 initial approvals and 5,967 renewals. With pending applications, as many as 35,000 investors could ultimately secure residence rights, representing an estimated €8.5 billion in property investments.
The Golden Visa programme, introduced in 2013, has been one of Europe’s most popular residency-for-investment schemes, attracting buyers seeking both safe haven assets and EU mobility rights.