PASOK proposes replacing real estate Golden Visas with ‘Angel Visas’

The PASOK political party has submitted an amendment to a Ministry of Development bill proposing the abolition of the ‘Golden Visa’ program through real estate purchases. Instead, the party suggests a transition toward an ‘Angel Visa’ model, which would redirect investment incentives toward entrepreneurship, the productive economy, and startups.

The proposal is framed as a response to Greece’s housing crisis. PASOK argues that the state should not simultaneously fund housing access programs while maintaining investment incentives that drive up demand for a limited residential stock. The party cited data indicating that by 2025, homeownership in Greece had fallen to approximately 69.4%, with 26.4% of the population living in households where housing costs exceed 40% of disposable income.

Under the proposed amendment, the ability to establish new Type B.5 residency permits through real estate investment would cease. Existing lawful applications would continue to be processed under current regulations, and the option to convert other investment permits into residency via property purchase would also be abolished.