The Greek government has introduced significant changes to its Golden Visa Program, which grants residency to international investors in exchange for financial contributions. In an effort to tackle the ongoing housing crisis, Prime Minister Kyriakos Mitsotakis announced an increase in the minimum investment required for the program.
In highly sought-after regions like Thessaloniki, Mykonos, and Santorini, where the population exceeds 3,100, the minimum investment for real estate will rise from €500,000 to €800,000. Additionally, in other parts of the country, the required amount will increase from €250,000 to €400,000.
Prime Minister Mitsotakis highlighted that the new threshold could go up to €800,000 in areas where rent prices are particularly high. The updated regulations, which take effect this month, aim to promote more balanced economic development, curb skyrocketing property prices, and encourage investment in less popular regions.
Greece’s Golden Visa Program remains one of the most popular in Europe, having generated nearly €1 billion in the first five months of 2023, according to data from the country's Immigration and Asylum authorities.