Approvals Surge, But From Older Cases
In 2025, Greece approved 8,879 initial Golden Visa permits, nearly double the 4,535 from 2024. This figure appears positive, but the reality is more nuanced.
The rise in approvals did not coincide with a rise in new applications. New applications in 2025 totaled 7,021, down from 9,372 in 2024 (a 25% decline). Approvals increased because authorities are deciding cases that have been in the system since previous years.
In other words: Greece is not attracting new investors at a higher rate; it is processing a backlog. This is progress, but not a sign of increased demand.
Backlog Remains Substantial, Though Declining
At the end of 2025, 9,958 initial applications from investors remained pending, including 4,437 filed in 2024 and 4,846 filed in 2025.
However, the backlog has diminished. By July 2026, the Ministry reported 6,315 initial applications awaiting processing, with 1,902 from 2024 and 1,965 from 2025.
This means Greece is processing faster, but over 6,000 cases still await decision. If you apply today, you will queue behind tens of thousands of others.
Which Investors Are Choosing Greece?
Citizenship data reveals a second shift in the investor profile. In 2024, Indian investors dominated. In 2025, Turkish investors surpassed India.
This reflects a broader trend: countries with weakening currencies or political instability are seeking exit routes. Turkey has experienced high inflation recently; India faces pressure from foreign capital regulations.
Important Considerations for Prospective Applicants
If you are considering Greece Golden Visa, be aware:
- Actual wait times: Despite rising approvals, you will still wait. As of October 7, 2026, AIMA had processed roughly 6,000 of 46,000 pending applications (13%), and scheduled approximately 30,000 biometric appointments.
- Declining demand: A 25% drop in new applications may signal market saturation, or that investors are choosing other programs instead.
- Rising real estate prices: Greece issued more initial investor permits in 2025 versus 2024, while new applications fell 25%. This may drive up property prices, as competition among investors intensifies.
Precautions to Take
If you pursue Greece Golden Visa, prepare for:
- Long wait times: While 13% processing sounds small, AIMA is accelerating. However, 40,000 pending cases remains a significant number.
- Higher real estate prices: If you choose the real estate route (€250,000 or above), anticipate prices higher than initially expected.
- Increased competition: Declining demand but rising approvals may mean only high-quality applications are approved quickly.
