By Lei Chen — Founder & Co-Founder, Santheos.
Written 21 October 2026; originally published on Santheos on 24 October 2026. AI-assisted English summary.
From recovery to productive investment
Greece’s recovery and its longer-term transformation are different stories. Chen argues that the next stage depends on how investment becomes productive assets, better infrastructure, employment and higher household incomes. Geography can support shipping, tourism, energy and digital infrastructure, but its economic value depends on reliable institutions and execution.
Renovation and lawful reuse of suitable non-residential buildings may improve usable housing. A transfer of ownership alone does not establish additional economic value, and a residence permit does not guarantee rental income, appreciation or resale liquidity. Tourism also requires transport, water, environmental capacity and housing for workers. Energy and digital infrastructure depend on financing, delivery, skills, power availability and demand.
Research method and limitations
Historical results, forecasts, announced investment programmes and projects under development are different forms of evidence. Sector figures can overlap and should not be added together as an economy-wide total. Planned investment is not completed spending; international corporate plans are not necessarily investment entirely in Greece.
Economic convergence and investment returns are not guaranteed. Assess acquisition cost, execution, operating performance, financing, taxation and eventual exit. Rising property prices alone do not prove improved living standards: productivity, wages, public services and housing affordability also matter.
The Golden Visa can introduce some investors to Greece’s wider economy. Further business activity is not automatic, cannot all be attributed to the programme, and remains subject to immigration, company-law and tax requirements. An investor residence permit does not itself grant access to employment.
Source: Santheos Expert Column. Santheos has a commercial interest in property development. This summary preserves the author’s dated analysis and is not personal legal, tax or investment advice.
Read Lei Chen’s original article and official source references:
