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Greece has introduced new Golden Visa rules that end a six-month freeze on property-related residency permits and open the way for thousands of pending applications.
The program enters a new phase shaped by strong interest from Türkiye, as Turkish nationals become one of the largest investor groups despite higher investment thresholds and slowing overall demand.
The ministerial decision published on November 11 sets detailed rules for investments in commercial buildings, listed properties, renovation projects, and land purchases.
The new framework gives clarity to buyers, lawyers, and developers, who waited months for formal guidance.
Some 13,499 Golden Visa files remain pending, as reported by Proto Thema. A total of 10,703 are in Attica, which represents 79% of all cases.
Many investors submitted files early to secure their position. Others held back until the government clarified how change of use, renovations, and listed buildings would qualify.
The decision now allows both groups to move ahead.
The new rules come at a time when Türkiye becomes a major driver of the program.
According to recent data from the Greek Migration and Asylum Ministry, Turkish nationals now hold 2,698 Golden Visa permits, which equals 14.7% of all permits issued.
Industry analysts say that many applicants from Türkiye are business owners and professionals who want secure mobility in the Schengen area while facing inflation and economic uncertainty at home.
Furthermore, a 153% annual increase in permits was granted to Turkish citizens. Greek authorities issued 1,067 permits to Turkish investors last year and 2,698 this year.
Chinese citizens still lead the overall program with 8,792 permits, but the sharpest rise comes from Türkiye. Israeli buyers follow with notable growth.
They hold 544 permits, or about 3% of the total, with demand linked to conflict in Gaza and wider regional instability, and many focus on renovated units in central Athens.
The ministerial decision provides detailed guidance that restarts a market stalled by uncertainty.
It sets out specific conditions for several major categories:
Greek engineers now know how to prepare technical reports. Notaries follow a clear checklist, and lawyers know which documents are required for each file.
Market stakeholders expect renovation projects and stalled commercial deals to resume.
Despite strong participation from Türkiye and Israel, overall Golden Visa demand is falling.
Greece received 392 new applications in September 2025, compared with 780 in September 2024. This marks a 49.7% year-on-year decline. From January to September, applicants filed 5,747 files, compared with 6,108 in the same period last year.
The drop follows major price increases as Greece raised the minimum investment to €800,000 in Attica, Thessaloniki, and islands with more than 3,100 residents.
The minimum is €400,000 in other regions, while the previous €250,000 threshold remains only for certain renovation-based investments.
Greek media reports that heavy demand pushed Athens to slow approvals. Turkish media notes that about 13,000 applications remain on hold.
A second set of updates takes effect this week with a new checklist for investors in tourism projects.
Travel and Tour World reports that the Ministries of Economy, Environment, Development, and Immigration agreed on unified documentation requirements that aim to streamline the process for complex tourist accommodations, long-term leases, and timeshare agreements.
Key points include:
Officials expect these measures to speed up stalled tourism projects and bring clarity for foreign buyers who want to invest in Greece’s tourism sector.
Over 1,350 Turkish citizens applied for Greece’s Golden Visa in 2023. This places Türkiye among the top nationalities seeking Greek residency.
Many investors see Greece as a stable EU gateway and a practical backup option for mobility and family planning.
Popular properties include apartments in Athens and Thessaloniki, villas in Crete and Rhodes, and long-term rental units in tourist centers.
Some buyers focus on rental income, while others choose properties that may support future relocation or education for their children.
Foreign demand has changed real estate markets across Athens, Piraeus, and parts of Crete. Developers have introduced more midrange and luxury projects.
Renovation activity has grown, but local residents in some areas face increased competition for affordable housing. Greece raised investment thresholds in response, but demand remains strong in regions where the €250,000 option still applies.
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