Greece Implements New Golden Visa Rules to Encourage Sustainable Investments

Greece Overhauls Golden Visa Program with New Sustainable Focus

In a significant policy shift, Greece has reformed its Golden Visa program as of November 2025, aiming to reduce speculative real estate investments and refocus on sustainable development. The new rules are a response to skyrocketing housing prices and the scarcity of affordable housing in popular urban areas. By tightening eligibility criteria and increasing investment thresholds, Greece hopes to redirect foreign investments towards projects that offer long-term benefits to local communities. According to Visit World, the previous program saw investments predominantly funneled into high-demand real estate markets, exacerbating housing supply issues for residents.

Increased Investment Thresholds and New Criteria

The Greek government has tripled the minimum investment requirement to €800,000 in prime locations such as Thessaloniki, Mykonos, and Santorini, as reported by Travel and Leisure Asia. This move is designed to curb speculative purchases that have driven up property prices in these areas. Moreover, investors are now required to hold significant stakes in existing businesses, marking a shift towards entrepreneurial ventures rather than purely real estate. This policy change aligns with similar adjustments in Portugal and Spain, aiming to mitigate housing affordability crises.

Focus on Long-Term Housing Solutions

The Greek government has introduced a ban on short-term rentals for properties qualifying for the Golden Visa, as detailed by Logaras Law. This new regulation is intended to increase the availability of long-term rental properties for local residents, addressing the housing shortage that has plagued major cities. Furthermore, investment properties must now be over 120 square meters, preventing the proliferation of small units designed for short-term tourists.

New Opportunities for Start-Up Investments

In an effort to diversify and stimulate economic growth, Greece has introduced a new investment pathway via start-ups. As per Expat Law, affluent investors can obtain a five-year residence permit by investing €250,000 in Greek start-ups. This approach seeks to attract innovative entrepreneurs who can contribute to the country's economic landscape while providing job opportunities for locals. The initiative is a strategic attempt to balance the real estate-driven focus of the past with diverse new economic stimuli.

Impact on the Greek Real Estate Market

Since its inception in 2013, the Golden Visa program has significantly boosted the Greek property market. However, the recent changes are expected to moderate excessive growth in property prices in high-demand areas, as noted by Global Citizen Solutions. By raising investment thresholds and implementing stricter criteria, Greece aims to stabilize its real estate market, making it more accessible to local buyers and less speculative for foreign investors. The anticipated outcome is a more balanced market that supports sustainable urban development.

Future Implications for International Investors

The tightened regulations signify a strategic pivot for Greece, focusing on sustainable and diversified investments. For international investors, these changes necessitate a shift in strategy, possibly moving attention from quick returns in real estate to longer-term, sustainable investments in the Greek economy. RealEstateAbroad.com analysis suggests that while higher investment thresholds may initially deter some investors, the potential for high returns on new ventures in businesses and start-ups presents significant opportunities. Investors should consider this recalibrated landscape as Greece positions itself as a leader in innovative investment solutions, paving the way for a balanced and robust economic future.