Greece has emerged as the biggest and largest golden visa scheme in Europe, beating Portugal by miles in the golden visa race for Europe, new data shows. Greece has issued a staggering amount (almost twice) the golden visas compared to portugal for the property investors in the battlefield for European golden visas.
Greece launched the gold visa scheme in 2014, two years after Portugal, figures clearly show Greece came from behind to overtake Portugal in issuing the sheer number of golden visas. Greece issued the highest number of golden visas in 2019, and in 2020 this trend will only continue to be higher.
| Golden Visas | Portugal | Greece |
| 2012 | 2 | 0 |
| 2013 | 494 | 0 |
| 2014 | 1526 | 364 |
| 2015 | 766 | 785 |
| 2016 | 1414 | 1273 |
| 2017 | 1351 | 2232 |
| 2018 | 1409 | 4059 |
| 2019 | 1163 | 6044 |
| Total | 8125 | 14757 |
Billions in Golden Visa
Greece is not far in raising Billions from golden visa scheme in Europe.
By the end of 2019, Greece has raised 3.6 billion euros compared to Portugal’s 4.4 billion in property investment. At this trend, we estimate, Greece is set to overtake Portugal within a year by the end of 2020
| € Billions | |
| Greece | 3.6 |
| Portugal | 4.4 |
Average Property Investment
The Average property investment per golden visa is much lower for Greece, makes it attractive for property investors. Addition perks such as VAT cuts, five year permanent residence card, low property prices are pull factors. Chinese have already invested more than 1 billion euros in Greece
| Average Investment | € |
| Greece | 250,000 |
| Portugal | 550,000 |
Chinese Investment
As the old saying goes, where there are chinese, there is prosperity! Chinese investments add fuel to golden visa popularity.
The chinese are the biggest groups of foreigners investing in Greek and Portugal golden visa schemes. Greece has received about €1 billion euros while in portugal, chinese investment reached 2.4bn euros
| Chinese | Billion € |
| Greece | 1.03 |
| Portugal | 2.4 |
Property Prices per Sq.m
The property prices in Greece and Portugal to buy a flat in the city center.
| Property Prices | Per sq.m |
| Athens, Greece | 1,825 € |
| Lisbon, Portugal | 4,210 € |
This shows prices in Greece double times cheaper compared to Portugal. With the expanding economy in Greece, real estate demand is only expected to pick up driving up the property prices in the future.
Probably the best time to invest in Greece!
