Foreigners buy property for Golden Visas

Investors from non-EU countries played a leading role in the increase of foreign investments in Greek real estate in 2022, mainly aspiring to secure a residence permit through the Golden Visa program.

According to Bank of Greece data on foreign inflows, from 1.97 billion euros in 2022 (a 68% increase compared to 2021), the largest increase is recorded from countries outside the EU. Some €1.26 billion flowed in from third countries, an amount that constituted 64% of the total. This is a 100% increase compared to 2021, when the amount invested had not exceeded €628 million.

Investments from eurozone countries also moved upward, albeit not as fast. Last year a total of €590 million flowed in from the eurozone, or 25% more than in 2021, when €473 million had flowed in. A 49% increase to €106 million was also noted by investments from other EU countries, led by Bulgaria...