€2.2 billion euros invested in Greek real estate through Golden visas

Greece launched its golden visa scheme in 2013, since then some €2.2 billion euros entered Greece through property investment in the past five years. This also means Greece is receiving about €440 million euros  real estate investment pouring into Greece every year. Property investors in Greece receive permanent residence permits under golden visa scheme. It is also possible to buy multiple properties so that the total value of all properties exceed €250K euros

 

In the beginning, when the program started in 2013, only 21 people applied for Greek golden visa and in 2018 it exceeded 3000 investors. According to Bank of Greece, Greece received €3.2 billion euros as Foreign direct investment (FDI)

 

According to  enterprise greece, over 9000 residence permits have been issued to property investors excluding dependents.  Assuming 250,000 euros per investor, this brings a total of €2.26 billion euros from 2013 to 2018.

 

Golden visas contribute 0.35% of Greek GDP every year. In 2017 the Total GDP of Greece was $200 billion.

 

Top cities for golden visa investment

Some €285 million euros invested in Athens properties by golden visa investors followed by Piraeus and Pallini.

Family members

These foreign property investors brought a total of 22,730 family members at an average of 2.5 family members per property owner.

Golden Visas in Total

In total, the combined residence permits issued under golden visas including all family and investors bring a total of 31,739 golden visas

 

Who are those investing?

This brings us to our final question, who are the foreigners investing in property. Chinese, Russians and Turkish nationals are the leading property investors in Greece.