Greece has recorded a sharp drop in Golden Visa applications in 2026, as higher property investment thresholds and stricter rules on qualifying properties reshape foreign investor demand. New applications fell by 44 percent in the first half of the year compared with the same period in 2025, marking a significant slowdown after several years of strong interest in Greece’s residency-by-investment program.
During the first six months of 2026, 2,551 applications for new investor residence permits were submitted, compared with 4,553 a year earlier. In June alone, 395 applications were filed. Updated government figures show that applications for initial permits reached 3,086 by the end of July.
Greece’s Golden Visa drop comes as permit issuances rise
Despite the decline in new applications, authorities continued to issue permits at a faster pace as older cases moved through the system. A total of 4,919 new residence permits were granted during the first half of 2026, up 21 percent from 4,057 during the corresponding period in 2025.
By the end of July, 34,278 Golden Visa investor permits were active in Greece. Of these, 26,310 were initial permits, while 7,968 involved renewals or reissued permits. The increase largely reflects applications submitted in previous years, many of which had accumulated before recent changes to the program took effect.
Thousands of applications remain pending
A sizeable backlog continues to weigh on the system. At the end of July, 7,850 investor applications remained pending. These included 6,315 initial permit applications and 1,535 renewals or reissuances.
Attica accounted for 5,730 pending cases, reinforcing its position as the main destination for Golden Visa investment in Greece. A large share of the outstanding applications dates from 2024 and 2025, when investors accelerated purchases ahead of changes to minimum investment requirements.
Higher investment thresholds reshape demand
Greece now applies different Golden Visa investment thresholds depending on location and property type. The minimum investment rises to €800,000 ($932,000) in high-demand areas, including Attica and Thessaloniki, as well as on Greek islands with permanent populations exceeding 3,150.
A €400,000 ($466,000) threshold applies in other parts of the country. The €250,000 ($291,000) route remains available in specific cases, including properties converted from commercial or other nonresidential use into housing.
This lower threshold has encouraged investment in former offices, industrial buildings and hotels, particularly in Attica, where demand has traditionally been strongest.
Greece’s golden visa drop reflects tighter property rules
Restrictions on how Golden Visa properties can be used have also altered the investment landscape. Properties acquired under the revised framework cannot be offered as short-term rentals, removing an income stream that had previously made the program particularly attractive in tourism-heavy areas.
Before the restrictions were introduced, investors could combine residency rights with income from short-term rental platforms in several popular destinations. The new rules are intended to direct more residential properties toward the long-term rental market while limiting pressure on housing supply.
Government looks to expand long-term housing
The changes come amid growing concern over housing affordability and the impact of foreign investment on property prices in parts of Greece. Authorities have increasingly sought to connect residency-by-investment policies with measures designed to increase the supply of homes available to permanent residents.
One proposal included in Greece’s National Housing Policy Plan would create a new residence permit category for investors purchasing portfolios containing multiple properties. Under the proposed framework, those properties would have to be placed exclusively on the long-term rental market within a specified period.
Investors would not be permitted to occupy the properties themselves or operate them as short-term rentals. The proposal has not yet been finalized, and further details on eligibility, implementation and monitoring would need to be established before it could take effect.
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