Under the draft National Housing Policy Strategy 2026–2035, currently open for public consultation, the Greek government is proposing a new category of Golden Visa aimed at encouraging foreign investors to build real estate portfolios—rather than purchasing single properties—with a key condition: all acquired properties must be leased out on a long-term basis.
A Shift from Single Properties to Portfolio Investment
Unlike the current Golden Visa framework—which ties residency rights to the purchase of one qualifying property—the proposed model allows investors to pool multiple residential units into a single investment portfolio. This shift is designed to channel private capital toward expanding the country’s long-term rental housing stock, especially in high-demand urban areas where vacancy rates are low and housing shortages persist.
Focus on Long-Term Rentals and Oversight
A core requirement of the proposal is that all properties in the portfolio must enter long-term rental use within a defined timeframe. The aim is to activate underused or vacant housing units and increase overall housing availability. To ensure alignment with this goal, the plan includes clear eligibility criteria and a monitoring mechanism to track how properties are used. Short-term rentals—such as those listed on platforms like Airbnb—would be explicitly excluded.
Complementing Broader Housing Initiatives
The proposed Golden Visa category is intended to work alongside other housing policies, including measures to incentivize the renovation of vacant buildings, support for affordable housing development, and initiatives to bring idle properties back into the rental market.
What’s in Place Today?
The existing Golden Visa program grants residency permits to non-EU nationals who invest in Greek real estate. Minimum investment thresholds vary by region—and have recently been raised in high-demand areas. Restrictions on short-term rentals via platforms like Airbnb were also introduced in recent reforms. However, there is currently no requirement that Golden Visa properties be placed in long-term rental use. That gap is precisely what the new proposal seeks to close—turning part of real estate investment activity into a tool for improving housing supply and affordability.
The regulation remains in the public consultation phase; final parameters will be determined after the consultation process concludes.