Greece is implementing significant changes to its Golden Visa program, notably raising the investment threshold for real estate from €250,000 to €800,000 in high-demand areas, effective September 2024. This adjustment aims to mitigate the housing crisis exacerbated by foreign investment inflating property prices, particularly in cities like Athens and Mykonos. Additionally, a new startup investment option will allow foreign investors to secure residency with an investment of €250,000, although concerns regarding due diligence and background checks have been raised. Development Minister Takis Theodorikakos announced increased tax incentives to support this new production model aimed at enhancing entrepreneurship. In 2023, the program generated €2.5 billion, reflecting its popularity despite the housing affordability challenges. The government seeks to balance foreign investment appeal with local economic needs to foster sustainable growth.