Greece’s ‘Golden Visa’ Program Deemed a Success

The Golden Visa program for real estate purchases in Greece has been successful, a report by GBR Consulting said on Monday.

According to the latest data, a total of 1,725 “golden visas” (five-year residence permits for investment activity in the country) were issued to foreign real estate investors in the period 2013 – June 2017, up from 1,550 visas in 2016, 968 in 2015, 455 in 2014 and 20 in 2013. In the period 2013 – April 2017, a total of 1,684 visas had been granted to foreign investors.

Chinese real estate investors are representing 42 percent of the total issued visas (722 visas), followed by Russia with 359 visas with a market share of 21 percent and Turkey with a share of 6 percent with 95 visas.

Enterprise Greece has estimated that one billion euros has been invested in the Greek real estate market through the Golden Visa program.

In addition, GBR Consulting said that a total of 4,193 visas were issued over the same period for the family members of investors.