New applications for the Greek Golden Visa have dropped significantly in the first half of 2026 following higher investment thresholds and stricter property rules, according to government figures.
Greek media reports that new Golden Visa residence permit applications dropped from 4,553 in the first half of 2025 to 2,551 during the first half of 2026.
There are 34,278 active Investor Permanent Residence Permits as of the end of July 2026. When comparing the first half of 2026 with the first half of 2025, the number of permits granted rose from 4,057 to 4,919. This 21% increase reflects higher processing efficiency; as authorities managed fewer new filings, they were able to clear older, accumulated backlogs.”
The decline stems mainly from a trend in policy shifts that began in 2023 and has gradually diminished the program’s financial appeal.
Why Are Fewer Foreign Investors Opting for The Greek Golden Visa?
Greece has significantly tightened its Golden Visa program, moving away from the relatively low-cost property investment that helped make the country one of Europe’s most popular residency-by-investment destinations.
When the country’s Golden Visa program launched in 2013, it instantly became attractive: non-EU investors could qualify for residency by purchasing real estate worth at least €250,000. The relatively low threshold was one of the program’s biggest selling points, particularly among American investors seeking a European foothold.
Ten years on, Greece began to tighten the screws. In August 2023, it raised the minimum investment to €500,000 in several high-demand markets, including parts of Athens and Thessaloniki and the islands of Mykonos and Santorini. The €250,000 threshold remained available in other parts of the country.
Greece went further in 2024. Under the revised rules, the minimum investment increased to €800,000 in Greater Athens, Greater Thessaloniki, Mykonos, Santorini, and Greek islands with populations above 3,100. The threshold was set at €400,000 in most other areas.
The government did preserve a €250,000 route, but substantially narrowed it. This lower threshold generally applies to properties being converted from commercial or industrial use to residential use, as well as to certain historic buildings requiring restoration.
The changes also introduced additional restrictions. Qualifying residential properties must generally be at least 1,291 square feet, and Golden Visa properties cannot be used for short-term rentals.
The result is a program that remains attractive but is considerably more expensive—and more targeted—than the one that originally put Greece on the Golden Visa map.
Processing Rates Rise Amid Policy Shifts, but 7,850 Cases Remain Pending
The reduction in new demand has alleviated administrative pressure, allowing Greek immigration authorities to reallocate resources toward clearing the high volume of applications submitted during the 2024–2025 rush.
A backlog remains, with 7,850 applications still pending at the end of July—6,315 initial applications and 1,535 renewals or reissuances. Attica, a region that encompasses the Athens metropolitan area, accounted for 5,730 of the pending cases, most of which were filed in 2024 and 2025 before the new thresholds took effect.
Properties bought under the current rules can no longer be used for short-term rentals. Greece’s National Housing Policy Plan also includes a proposal for a new permit category tied to multi-property portfolios placed solely on the long-term rental market, though the plan has not been finalized.
