Greece’s real estate sector continues to attract foreign interest, according to the most recent Bank of Greece (BoG) figures, either through the resilient “Golden Visa” program or residents of EU countries interested in retirement or semi-retirement in the country.

• December 26, 2023
• Published in Greece

A new situation has been ushered in by the changes made to the Golden Visa investment migration program coupled with the geopolitical developments in Greece’s neighborhood, with data revealing that one in two foreign buyers now purchase Greek real estate as an investment and one in five to live in themselves. That Greece’s real estate market continues to attract capital from third countries is indicative of the considerable global interest, with the Greek economy receiving 1.102 billion Euro from abroad in the first half of 2023.

Securing the golden visa continues to be a major incentive for foreign investors to purchase real estate in Greece, with third-country nationals holding the largest slice of the investment pie. However, from 2022 to the present two significant changes are observed. Firstly, the role of the golden visa as a sole incentive for investments in Greek real estate was limited. Second, there have been changes in the countries of fund origin.