How Chinese investors quietly transformed Athens – one visa at a time
Chinese citizens hold nearly half of first-time visas linked to property purchases – and over 60 per cent of renewals
China has changed the Greek capital in both visible and less obvious ways.
On the more discreet side, Chinese buyers have snapped up thousands of flats in a rush to apply for the Greek investor residency scheme, commonly known as the “golden visa”.
In June 2025, nearly 8,000 Chinese citizens – 7,795 to be precise – were first-time members of the scheme, meaning they had not yet reached the five-year mark to renew their permits. That represents 47.8 per cent of all first-time permit holders, making them by far the largest group, according to data from the Greek Ministry of Migration and Asylum.
Among the 5,679 people who had renewed their golden visa, 61 per cent were also Chinese citizens, the ministry reported.
Compared to similar programmes in the EU, Greece stood out for its affordability. Before August 2023, residency could be acquired by purchasing a property for as little as €250,000 (US$290,346) in Athens.
In contrast, Portugal’s real estate residency programme cost €500,000 (US$583,709) before it was scrapped in 2023. Greece also offers higher living standards and a stronger local economy than countries like Malta.
I don’t believe locals would have the possibility to contribute that much to the local economy
At the height of the wave, the way Chinese investors bought properties astonished many locals, with many paying for flats with very little information about the area.