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The Greek government is currently dealing with its largest-ever Golden Visa application backlog. Over 20,000 applications are pending approval as investors rushed to submit their applications before the price hike came into effect in September.
During 2023, the Greek government received an average of nearly 700 applications per month, almost three times the average of the previous year.
As of July this year, 5,822 backlogged applications pertain to new investors, while their dependents applications number 11,430. Renewal applications make up the rest of the backlog.
A whopping 84% of backlogged applications are based on investments in the Attica region, highlighting that the rush of applications was spurred by the government's decision to increase the minimum investment amount in real estate from €250,000 to €500,000 in the majority of Athens, Thessaloniki, Varo, Mykonos, and Santorini.
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