Greece's Real Estate FDI Surges to 62% of Total, Reaching €1.9 Billion with 17% Increase

Dec 28, 2024, 10:05 AM

Foreign direct investment in Greece's real estate sector has surged, accounting for 62% of total FDI in the first nine months of 2024. According to data from the Bank of Greece, €1.9 billion was invested in real estate during this period, marking a 17% increase compared to the same period in 2023. Overall, FDI in Greece reached €3.1 billion, despite a 15% annual decline. The rise in real estate investments is largely attributed to the 'Golden Visa' program, which has seen changes that spurred a new wave of property purchases by non-EU citizens. These changes, effective from September 1, increased the minimum investment threshold to €800,000 in major areas and €400,000 elsewhere, prompting investors to secure properties before the new limits took effect. In 2023, total FDI inflows were €2 billion, setting a historic high for 2024. Last year, the total was €3.66 billion, while in 2022 it reached €6.43 billion.