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Greece Golden Visa & Real Estate Market Report — July 2026

AVLA REAL ESTATE · MARKET REPORT · JULY 2026

Greece Golden Visa & Real Estate Market Report — July 2026

Summary: Greece's Golden Visa almost doubled its approvals in 2025 (8,879 approvals, +96%), and Turkish investor permits rose 153% to move into second place behind China. Home prices climbed 7.8% on average, while Spain (3 April 2025) and Malta both closed their programmes — leaving Greece effectively the last major programme granting EU residency through real estate. This report captures the market in six numbers as of July 2026.

By M. Sami Akbeniz — Founder, Avla Real Estate, Istanbul · Report date: 16 July 2026

Athens Riviera and Aegean view — Greece Golden Visa and real estate market report July 2026

The market in six numbers

  • 79,056 valid Golden Visa permits (27,786 investors + 51,270 family members), December 2025.

  • +96% in approvals: 8,879 in 2025 (2024: 4,535).

  • +153% Turkish investor permits (1,067 → 2,698); Turkey now second behind China, a 16.3% share.

  • +7.8% average home-price growth (2025); Thessaloniki 9.6%, Athens 6.2% (Bank of Greece).

  • 5.4% Athens gross rental yield (the country's highest); 7.3% in Kipseli.

  • €8.5bn+ total real estate investment since inception (23,221 investors).

01 Demand hit a record

According to the Greek Ministry of Migration and Asylum, 8,879 Golden Visa approvals were issued in 2025 — almost double 2024's 4,535. Between March 2025 and March 2026, 13,127 investor permits were finalised. The most striking move came from Turkish investors: permits jumped from 1,067 to 2,698 in a year (+153%), making Turkey the second-largest group as of February 2026 with a 16.3% share, behind China (48.1%). Turkey ranks second in the pending pipeline too.

Balance note: new applications eased to 6,978 in 2025 after 2024's record 9,391 — the surge is concentrated in approvals and in the Turkish and US segments, and faster processing of the backlog lifted the approval figure.

02 Home prices in double digits

Bank of Greece data shows apartment prices rose 7.8% on average in 2025 (2024: 9.1%). Thessaloniki (9.6%) outpaced Athens (6.2%); growth continued at a more moderate 5.7% in Q1 2026. By the Spitogatos Index, Athens' southern suburbs are the country's most expensive at €4,125/m², with Vouliagmeni topping the market at €7,500/m². West Athens' Peristeri, by contrast, remains at €2,120/m² — an entry-level opportunity riding a metro-led regeneration.

03 Rental yields: where the returns are

Greece averages a 4.4% gross rental yield; Athens leads the major cities at 5.4% (Global Property Guide, November 2025). One-bed flats in the regenerating central district of Kipseli reach 7.3%. Piraeus posted the fastest rent growth in Attica, up 19.4% in a year. The southern coast (Glyfada–Vouliagmeni) offers a lower-yield, higher-capital-growth profile. City-by-city yield analysis →

04 2026 tax and legislative changes

  • VAT suspension extended: the 24% VAT on new builds is suspended to 31 December 2026 (Law 5246/2025) — buyers pay only the 3.09% transfer tax.

  • New rental bracket: from 1 January 2026, a 25% band (€12,001–24,000) — a tax cut for mid-scale landlords.

  • Capital gains suspended: the 15% tax on sale profits remains suspended to 31 December 2026.

  • Thresholds held: Law 5275/2026 and an April 2026 circular tightened checks but left the €800K/€400K/€250K thresholds untouched; no official proposal to raise them.

Full breakdown of every rate: Greek Property Taxes 2026 →

05 Greece stands alone in Europe

Spain's Golden Visa closed completely on 3 April 2025 (Ley Orgánica 1/2025); Malta's citizenship-by-investment scheme was struck down by the EU Court of Justice. Ireland (2023), the Netherlands (2024) and Portugal's real estate route (2023) had already closed. The result: among Europe's major programmes, Greece is the last door still open to residency through real estate — with its €250,000 conversion exception. Greece vs Spain comparison →

Avla's view — July 2026

The market is seeing a supply-tight rise in demand: as rival programmes close, more investors turn to Greece, prices are moderating from double digits toward single, and processing times can lengthen under demand pressure. Two moves stand out: (1) the risk of a threshold increase is low but not zero — act while the €250,000 conversion exception is still open; and (2) choose your district on sourced data, according to whether your goal is yield or capital growth. Avla clarifies that choice with a 2-page feasibility report for every property.

Sources: Greek Ministry of Migration and Asylum (migration.gov.gr, December 2025 – March 2026); Bank of Greece (Q4 2025, Q1 2026 bulletins); Global Property Guide (November 2025); Spitogatos Index (Q4 2025); PwC Greece Tax Summaries (February 2026); Laws 5100/2024, 5246/2025, 5275/2026; Ley Orgánica 1/2025 (Spain). Figures are official and index data as of publication; verify current numbers before any investment decision.

Avla Real Estate — independent buyer's advisory for the Greek Golden Visa and Athens property investment. This report is updated monthly. realestate@avla.com.tr · +90 532 282 2657

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