Greece Golden Visa: Number of Main Applications (2015-2025)
We've covered the historical data up to 2023. Let's focus on the projections for 2024 and 2025, taking into account the new €500,000 threshold in prime areas.
2015-2022 (Actual/Reported Averages):
2015: ~450 applications
2016: ~900 applications
2017: ~2,200 applications
2018: ~3,800 applications
2019: ~4,700 applications
2020: ~1,300 applications (Pandemic dip)
2021: ~2,800 applications (Recovery)
2022: ~4,500 applications (Strong rebound)
2023 (Estimated Actual):
Q1-Q3 2023: As discussed, a massive surge due to the impending threshold increase. Official figures by August 2023 showed over 8,000 pending applications and a significant number already granted for the year. By year-end, the total number of main applications for 2023 is projected to be well over 8,000, potentially reaching 10,000+. This makes it the highest-performing year in terms of application volume due to the deadline rush.
2024 (Projection - Adjustment Phase):
The market will be adjusting to the new dual-zone pricing. There will likely be an initial cooling off period after the 2023 rush.
Investors will take time to understand the new rules, identify opportunities in the €250,000 zones, and evaluate the higher €500,000 options in prime areas.
Demand in the €500,000 zones might stabilize at a lower volume but with higher individual investment values.
The €250,000 zones will likely see increased interest.
Projection for 2024: We anticipate a decrease from the 2023 peak, likely settling in the range of 3,500 - 4,500 main applications. This is still a healthy number, comparable to pre-pandemic strong years.
2025 (Projection - Stabilized Growth):
By 2025, the market should have fully adapted to the new regulations.
Greece's strong tourism, economic stability, and the inherent value of EU residency will continue to drive demand.
The program will appeal to two distinct segments: those seeking higher-value properties in prime locations and those looking for more accessible options in other regions.
Improved processing times (a continuous goal for Greek authorities) and global marketing efforts will also play a role.
Projection for 2025: A return to moderate growth, potentially reaching 4,000 - 5,500 main applications, as the program finds its new equilibrium. The total investment value generated in 2025 could well exceed that of pre-2023 years, even with fewer applications, due to the higher average investment.
