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The Greek government has decided to extend the deadline for completing real estate contracts for investors participating in the Golden Visa program. Authorities announced that foreigners who placed a 10% deposit by August 31, 2024, can now finalize their contracts by February 28, 2025. The original deadline was December 31, 2024.
The program, which grants residency permits to wealthy foreigners in exchange for capital investments, continues to attract significant interest from investors. The extension aims to provide additional flexibility for participants, allowing them to apply under the program's previous investment threshold of €250,000.
In September 2024, Greece introduced changes to the program to address the housing crisis. These included increasing the minimum investment threshold in prominent areas such as Santorini, Mykonos, and Attica. Additionally, authorities announced that starting in 2025, the program will undergo further adjustments.
Future changes will focus on encouraging wealthy foreigners to explore other types of investments beyond real estate, which remains the most popular option under the program.
According to official data, citizens from China, Turkey, Lebanon, the United Kingdom, and the United States accounted for the largest number of Golden Visa applicants in October 2024:
- Chinese citizens: 6,521
- Turkish citizens: 1,115
- Lebanese investors: 717
- UK investors: 511
- US investors: 369
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