Approvals Nearly Double
According to Greece's Migration and Asylum Ministry, 8,879 Golden Visa approvals were issued in 2025—nearly double the 4,535 from 2024. From March 2025 to March 2026, 13,127 investor permits were completed. As of December 2025, 79,056 valid Golden Visa permits are in force (27,786 investors + 51,270 family members).
This growth is no accident. Spain and Malta both closed their programs—leaving Greece as the only major EU program granting permanent residency through real estate. When other doors shut, capital flows to Greece.
Turkish Investors Surge 153%, Overtake India
The shift in investor composition is striking. Turkish investor permits rose 153% to move into second place behind China. Specifically, permits from Turkey increased from 1,067 to 2,698 in one year (+153%), making Turkey the second-largest group as of February 2026.
This matters: Turkey, a country with a developed economy and strong purchasing power, is choosing Greece over other programs. If you are considering this program, know that you will compete with investors from Turkey, China, and elsewhere—something that may affect property availability and pricing.
Home Prices Up 7.8%, But Not Evenly Distributed
Bank of Greece data shows apartment prices rose 7.8% on average in 2025. Thessaloniki (9.6%) outpaced Athens (6.2%); growth continued at a more moderate 5.7% in Q1 2026.
However, increases are uneven. Athens' southern suburbs are the country's most expensive at €4,125/m², with Vouliagmeni topping the market at €7,500/m². By contrast, West Athens' Peristeri remains at €2,120/m²—an entry-level opportunity riding a metro-led regeneration.
This matters: if you buy in a prime area like Vouliagmeni, you are already paying premium prices. If you choose a developing neighborhood like Peristeri, you may find lower entry costs, but you need to understand both the risks and potential of that area.
Rental Yields Remain Attractive
Greece averages a 4.4% gross rental yield; Athens leads major cities at 5.4%. One-bed flats in the regenerating central district of Kipseli reach 7.3%. Piraeus posted the fastest rent growth in Attica, up 19.4% in a year.
However, exercise caution: Golden Visa properties cannot be let short-term through sharing-economy platforms. If you plan to buy for short-term rental income via Airbnb or Booking, you cannot do this with a Golden Visa property. Only long-term rentals (minimum 6 months) are permitted.
Caution: Prices Have Already Risen, and the Market Is Hot
This rapid growth has a downside. Major markets—Athens, Glyfada, Voula, Crete, Thessaloniki—continue to show year-over-year price increases driven by foreign demand and limited supply.
When demand is high and supply is constrained, prices rise. Late buyers will pay more. If you are considering entry, calculate carefully: are you buying for relocation or investment? If investment, is a 4–5% yield sufficient to offset currency risk and ownership costs?
Additionally, Greece has operated a VAT suspension on some unsold new builds that has been extended through the end of 2026. The treatment materially changes the all-in acquisition cost. This means if you buy a new build, you may save significantly, but the deadline is end of 2026. After that, VAT will apply normally.
