Golden Visa Program Attracts Surge in Foreign Investment

The Golden Visa program has witnessed a significant uptick in investment from British, American, and Israeli investors over the past year. Official figures from the Ministry of Immigration and Asylum reveal substantial increases in initial permanent investor permits issued.

As of August this year, British investors have climbed to fifth place on the list, trailing Iran by just one residence permit. Britons have secured 482 permits, representing a relative share of 3.8%. This marks a 51% increase compared to August last year, when 318 permits were approved (2.9% share).

American investors have also experienced a substantial rise, with a 47% annual increase, reaching 353 permits or 2.8% of the total. This compares to 240 permits and a 2.2% share a year ago. American investors currently hold the seventh position on the relevant list.

The most significant increase, however, comes from Israeli investors, who have seen a 70% surge. They now hold 271 permits (2.1% of the total) compared to 159 in August 2023. This shift towards the Greek market can be attributed to the ongoing war in the wider region.

The United Kingdom's exit from the European Union has undoubtedly played a crucial role in the rise of British investors. Many new buyers of holiday homes in Greece are now combining their investment with the application for a residence permit, which is considered an additional benefit and incentive for choosing Greece over other Southern European destinations.

In addition to purchasing a high-quality and affordable property compared to Italy, Spain, or the South of France, UK buyers can also obtain a residence permit, allowing them and their family members to enter and exit the EU freely. This element has gained significant importance for many.