It seems like discussions about immigration have been picking up in the forums lately, mainly because Greece’s Golden Visa has increased its price yet again! In popular areas like Athens and Thessaloniki, the threshold has shot up to €800,000, while other regions start at €400,000. As soon as this news broke, several of my friends who were considering Greece have started looking into Spain instead. After all, Spain has consistently maintained its €500,000 threshold, which suddenly looks like a much better value in comparison.
I’ve actually researched both countries thoroughly before. They are both Southern European, Mediterranean nations with great climates and a relaxed pace of life, making them ideal places to live. From an investment perspective, however, there are significant differences. Spain’s real estate market feels more mature and stable, with a wider variety of options, from major cities like Madrid and Barcelona to sunny coastal cities like Málaga and Alicante. While Greek properties, especially on the islands, might offer tempting rental yields during the tourist season, its economic stability doesn’t quite match Spain’s. Personally, I’m more optimistic about the long-term growth potential of property value in Spain.
Spain vs. Greece: A Comparison of Key Policies
Besides property prices, the key factors for long-term living are residency requirements, permanent residency, and citizenship policies. I’ve put together a simple table for a clearer comparison:
| Item | Spain | Greece |
|---|
| Investment Threshold | €500,000 in real estate | €400,000 / €800,000 |
| Residency Requirement | No minimum stay requirement | No minimum stay requirement |
| Permit Renewal | 1+2+5+… years, then eligible for permanent residency | Renewed every 5 years, tied to property ownership |
| Applying for Permanent Residency | Reside for 4 years and 2 months within a 5-year period | Reside for 5 years within a 7-year period |
| Applying for Citizenship | Difficult for non-Ibero-American nationals 10 years of residency + language and culture exams | 7 years of residency + language and culture exams |
As the table shows, if your goal in buying property in Spain is simply to obtain a residence permit for easy travel within the Schengen Area, both countries are quite similar as neither has a minimum stay requirement. However, if you have long-term plans to live in Europe or even become a citizen, Spain’s path to permanent residency in 5 years is more straightforward. While Greece appears to offer citizenship in 7 years, its permanent residency policy is separate from the Golden Visa program, making the process more complex. And although Spanish citizenship requires a challenging 10 years of residency, the certainty of obtaining an EU long-term residence permit is relatively high.
After the price increase, Greece’s appeal has certainly diminished for those on a limited budget seeking a simple and fast way to get a residence permit. Although Spain’s threshold has remained at €500,000, it offers residency in a major, stable country with a healthier real estate market and a clearer path to long-term settlement. Of course, everyone’s needs are different, and so are their choices. What are your thoughts? Are there any friends here who are currently in the process or have already successfully immigrated? We’d love for you to share your experiences and opinions.
