Foreign investment in Greek real estate exceeds 2.75bn euros in 2024, driven by Golden Visa demand

Foreign investment in Greek real estate hit 2.75 billion euros in 2024, driven by Golden Visa demand and rising interest from U.S. investors. The article Foreign investment in Greek real estate exceeds 2.75bn euros in 2024, driven by Golden Visa demand first appeared in TravelDailyNews International.

May 21, 2025 - 00:10

Foreign investment in Greek real estate exceeds 2.75bn euros in 2024, driven by Golden Visa demand

Greece witnessed a significant surge in foreign real estate investment in 2024, with total inflows from non-residents surpassing 2.75 billion euros, according to the latest analysis from Astons. This marks a 28.9% year-on-year increase from 2.1 billion euros in 2023 and represents a staggering rise of over 1,000% compared to the 239.5 million euros recorded in 2014.

The data, which tracks real estate investments made by non-residents, highlights sustained and accelerating interest in the Greek property market. On a quarterly basis, 2024 saw consistent growth, with 520 million euros invested in Q1, 622.1 million euros in Q2, 783.7 million euros in Q3, and a peak of 824.5 million euros in Q4.

According to Denis Kravchenko, Business Development Director at Astons and Head of the firm’s Cyprus office, this upward trend is closely tied to the continued popularity of Greece’s Golden Visa programme.

“The Greek property market is immensely popular for foreign investors and one way these investments are being facilitated is via the country’s Golden Visa programme.

Greece’s Golden Visa programme is increasingly popular as overseas investors look to gain residency to one of the EU’s most desirable nations. The programme grants people a five-year residency for the whole family in exchange for investing in the nation’s property market, and this investment can be as little as 250,000 euros if the money goes towards purchasing commercial property and converting it into residential. We’re seeing many developers buy such properties, renovate them and then sell them as new modern buildings.

However, Greece also increased the minimum investment for residential property in some areas such as Athens, and this increase, which in some cases has grown from 250,000 euros to 800,000 euros, will have contributed to the boom seen in foreign investment into Greek real estate.

However, the accessible price point still available for commercial conversions, combined with an appealing tax regime and access to the European Union makes Greece one of the most attractive nations for expats from around the world, but we’re seeing particularly strong demand from wealthy US citizens who are looking to spread their financial portfolios beyond the borders of North America. However, it is now being rumoured that Greece plans to end its Golden Visa programme soon, which means the window of opportunity could close as soon as next year.”

The article Foreign investment in Greek real estate exceeds 2.75bn euros in 2024, driven by Golden Visa demand first appeared in TravelDailyNews International.