Greece Extends Golden Visa Real Estate Deadline
In a move to attract more investors and provide greater flexibility, Greece has extended the deadline for completing real estate contracts under its Golden Visa program. Investors who placed a 10% deposit on a property before August 31, 2024, now have until February 28, 2025, to finalize their purchases.
This decision not only offers breathing room for applicants but also ensures they can still benefit from the lower investment threshold of €250,000-€500,000. Previously, the deadline was set for December 31, 2024.
Greece’s Golden Visa program has long been a magnet for wealthy investors seeking residency in the country. However, with the government implementing higher investment thresholds in popular areas like Santorini, Mykonos, and Attica to address a housing crisis, the extension aims to smooth the transition for applicants already in the pipeline.
The increased minimum investment thresholds are part of broader reforms introduced in September 2024, aimed at tackling affordability issues in high-demand regions.
A Booming Program
Despite rising thresholds and tighter rules, Greece’s Golden Visa program continues to thrive. In October 2024, the program attracted 12,577 initial applications, marking a 12% increase from the same period in 2023.
A closer look at the numbers reveals the top contributors:
- China: 6,521 applications
- Türkiye: 1,115 applications
- Lebanon: 717 applications
- United Kingdom: 511 applications
- United States: 369 applications
This steady growth underscores the global appeal of Greece’s blend of Mediterranean charm, favorable residency terms, and potential for financial returns.
What’s Next for the Golden Visa Program?
For 2025, Greece is shifting focus away from real estate dominance in its Golden Visa offerings, with plans to encourage investments in startups and other productive sectors.
The new measures aim to diversify the program, steering foreign wealth into areas that can generate jobs and spur innovation. While the real estate route will remain an option, it’s clear the government wants to channel investor interest toward ventures that promise long-term economic benefits.
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