Greece’s Golden Visa programme continues to reshape the country’s real estate market, even as stricter investment rules begin to cool fresh demand. While new applications have slowed sharply in 2026, residence permits are being issued at a record pace as authorities work through a massive backlog accumulated before higher investment thresholds came into force.
According to data from the Ministry of Migration and Asylum, 14,113 new residence permits were issued to investors and their family members during the first five months of 2026, a 57% increase compared with the 8,966 permits granted during the same period a year earlier.
The surge does not reflect a sudden wave of new investments. Instead, it stems from the processing of approximately 15,000 applications submitted during 2024 and early 2025, when foreign buyers rushed to secure properties before Greece tightened the rules governing the programme.
Turkish investors emerge as the fastest-growing buyer group
Among all nationalities, Turkish investors recorded by far the strongest growth. By the end of May, 4,337 Turkish nationals held Golden Visa residence permits, representing an annual increase of 121%.
Their share of all investor permits climbed to 17.7%, up from 12.7% a year earlier, firmly establishing Turkey as the second-largest source of Golden Visa investors after China.
Chinese investors remain the dominant force
Chinese investors continue to dominate the programme. The number of residence permits granted to Chinese nationals increased by 58.5% over the past year to 11,734, accounting for almost half (47.4%) of all principal investor permits issued under the programme.
In practical terms, nearly one out of every two Golden Visas granted in Greece over recent years has gone to a Chinese investor. Demand has increasingly focused on projects qualifying for the €250,000 investment threshold that remains available for buildings converted from commercial to residential use.
Former hotels, offices, warehouses and industrial buildings have therefore become one of the hottest segments of the Greek property market, triggering a wave of redevelopment projects by domestic developers and international investment groups.
Israeli interest rises as geopolitical uncertainty persists
Israeli investors also recorded one of the strongest growth rates. Residence permits granted to Israeli nationals increased by 66.3% year-on-year to 772. Although, they account for only 3.2% of the total investor base.
Stricter rules cool new demand
While permit issuances continue to accelerate, new applications tell a very different story. During the first five months of 2026, new Golden Visa applications fell 46.2% to 2,137 from 3,989 during the same period last year.
The decline had been widely anticipated. Last year’s rush reflected investors racing to secure eligibility before Greece introduced significantly higher minimum investment thresholds across most of the country.
At the same time, the government prohibited newly acquired Golden Visa properties from being used for short-term rental platforms such as Airbnb, reducing the attractiveness of the programme for yield-focused investors.
