According to data from the Ministry of Migration and Asylum, applications soared through the end of July, underscoring the program’s influence on Greece’s real estate market. Israelis recorded the most striking increase, nearly doubling their numbers with 510 residence permits compared to 260 last year.
The growth is particularly notable given Israel’s population of just 10 million. The ongoing war in Gaza and a climate of insecurity have driven more Israelis to view Greece not only as a promising investment destination but also as a place of stability. Their established footprint in Athens, especially in property purchases and renovations, has fostered a network of trust that continues to attract new investors.
Turkish nationals ranked second with 2,449 permits, a jump of 152 percent from July 2024. While the absolute numbers are larger than Israel’s, the impact relative to Turkey’s 86 million citizens is less pronounced. Still, inflation pressures—despite falling to 35 percent this year—have encouraged many Turks to safeguard their wealth abroad.
British investors followed with 706 permits, up 50.8 percent year on year. The United Kingdom’s exit from the European Union has made mobility across Europe more complex, prompting many Britons to secure a golden visa in Greece as a way of maintaining ties to the continent.
American interest has also climbed. U.S. investors obtained 518 permits, marking a 52 percent increase. Applications surged in the second half of 2024 as political uncertainty at home pushed many toward more secure European options. With thousands of U.S. applications still pending, their presence in the Greek property market is expected to expand further.
China remains the single largest source of golden visa holders, with 8,179 permits in total. Yet growth slowed to just 14.7 percent, reducing China’s share of the market to 47.4 percent from 56 percent last year. Higher investment thresholds have particularly affected China’s middle class, which had fueled the country’s dominance in the program until recently.
Since its launch, the golden visa program has attracted 23,221 investors to Greece, with 17,254 active permits and nearly 6,000 renewals. With almost 12,000 applications still pending, the total number of permits is expected to reach 34,000 to 35,000 in the near future, translating into more than €8.5 billion in investment.
