Foreign investment in Greece through Golden Visa program soars in 2017, 04 February 2018

40% more "Golden Visas" were handed out to foreigners compared to 2016

A boom has been recorded regarding the attraction of foreigners interested in buying a home in Greece during 2017, according to data by the Greek Residence Permit Scheme for third-country nationals.

More and more foreigners consider investment in Greek properties to be particularly attractive and, according to figures of the Ministry of Migration Policy, 40% more "Golden Visas" were handed out to foreigners compared to 2016, raising their total number to 2,120 (or more than 5,000 if family members are included) against 1,522 during the previous year.

Most of the residence permits for homeowners have so far been given to buyers from China (945), Russia (387) and Turkey (191).

Sunshine, the mild Mediterranean climate of Greece, the quality of life and the low real estate prices are considered to be key reasons for attracting buyers' interest, while economic recovery in the country and political stability are also considered beneficial.

According to Enterprise Greece, the Golden Visa program in Greece is considered to be more successful than the corresponding Cyprus programs as it grants a permanent residence permit and access to 26 Schengen countries to individuals and their relatives who invest at least EUR 250,000 for a property purchase or a productive investment in Greece.