Greek Golden Visa through real estate in 2026: thresholds, which property to buy, and the pitfalls

What the Greek Golden Visa through real estate is

The Greek Golden Visa through real estate is a residence permit that the country issues to a non-EU foreign national in return for an investment in local property. In essence it is a transaction: you buy a property for the amount set by law, and in exchange the state grants you and your family a five-year residence permit with the right to renew. As long as the property stays in your ownership and its value does not fall below the threshold, the status keeps being renewed.

The fundamental difference between Greece and Cyprus is that Greece is a full member of both the European Union and the Schengen Area. This means a Greek residence permit obtained through a property purchase immediately grants freedom of movement across Schengen without separate visas. This is one of the main reasons the Greek Golden Visa remains Europe's most popular investment residency program.

It is worth defining the boundaries up front. The Golden Visa is a residence permit, not citizenship and not a passport. It does not require you to live in Greece permanently: minimal physical presence is barely required - it is enough to own the property. After five years of legal residence a path opens to permanent resident status, and later still to naturalization. But those are separate stories with their own conditions. We keep a detailed overview of the entire program in the the guide to the Greek Golden Visa.

Three investment thresholds: 250, 400, and 800 thousand euros

Until the end of 2024 Greece had a single threshold - 250,000 euros for any property anywhere in the country. Law 5100/2024, which came into force on 31 August 2024, abolished this simple scheme. A three-tier system now applies, and the amount depends on where and what kind of property you buy.

• 800,000 euros - the premium zones. These are the most expensive and sought-after regions: all of Attica (including Athens and the Athens Riviera), the Thessaloniki agglomeration, the islands of Mykonos and Santorini, as well as any islands with a population over 3,100.
• 400,000 euros - the rest of Greece. The standard threshold for regions outside the premium zones: the mainland, most islands, provincial towns, and resorts.
• 250,000 euros - only two special cases. This amount has survived solely for converting a commercial property into residential and for restoring a listed building. You can no longer buy an ordinary ready-built apartment for 250,000 euros under the Golden Visa.

The authorities' logic is simple: they cut off speculative demand in expensive locations and steered investors either toward the regions or toward restoring the old building stock. So the first question when choosing is not «how much money do I have,» but «which region do I want to live in and what type of property suits me.» A detailed map of the premium zones and regions is covered in our article on the zones of the Greek Golden Visa.

Which property to buy for each threshold: a table of «threshold - property type - condition»

This is the central table of the entire article. It answers the main question - which property to buy for a Greek residence permit if you have a specific budget in hand. Each threshold is strictly tied to a property type and set of conditions, and they must not be confused: a mistake in choosing the property means a refusal of the residence permit.

Let us break down what to buy by budget:

• Budget of 250,000 euros. A ready-built apartment cannot be used under the program for this amount. The realistic options are to buy an older commercial unit (for example, a former office or shop) and convert it to residential, or to take a listed building and restore it. This is more complex and requires preparation, but the entry threshold is lower. A detailed analysis of this route is in our article on the Greek Golden Visa for 250,000 euros.
• Budget of 400,000 euros. The most practical mainstream option: a ready-built apartment, house, or townhouse of at least 120 sq m in any region outside the premium zones - Crete, Rhodes, Halkidiki, Patras, mainland cities, and resorts.
• Budget of 800,000 euros. A property in a prestigious location: an apartment in central Athens or on the Riviera, a house in Thessaloniki, a villa on Mykonos or Santorini. Also at least 120 sq m and as a single lot.

We provide a full calculation of the project cost, including taxes and fees, separately in our material on the cost of the Greek Golden Visa.

The one-property rule: why you cannot split the amount

Before the reform, investors often assembled the required amount from several small apartments - for example, three studios at 90,000 euros each. Since 2024 this is prohibited: the one-property rule applies. The entire investment amount must be placed in a single property.

Let us look at how this works:

• One property per application. For the 400,000 or 800,000-euro threshold you buy exactly one property of the corresponding value and area. You cannot combine two apartments of 200,000 euros each toward the 400,000 threshold.
• The property may be held in joint ownership by the spouses. Husband and wife may own a single property jointly - this does not breach the rule; the main investor files the application, and the family is added as dependents.
• Several investors in one property - proceed with caution. If the property is expensive and shared by several independent investors, each person's share must reach the threshold on its own. In practice this is a rare arrangement for the Golden Visa and must be calculated in advance.

The one-property rule is exactly what many people miss when relying on old articles online. If you see advice to «buy a couple of apartments for the Golden Visa,» that is outdated information from before August 2024. Today it is one property only.

The 250,000-euro threshold: commercial conversion and listed-building restoration

The 250,000-euro threshold has not disappeared entirely - it has survived, but has turned into a narrow, special route for two specific property types. It is the cheapest way into the program, but also the most demanding in terms of preparation.

Route 1. Converting a commercial property into residential. You buy a non-residential unit - an office, warehouse, or shop - and officially reclassify it as housing. The key condition: the change of use must be completed before you file the residence permit application. In other words, by the time you apply you already hold a residential property, not «commercial space I plan to convert.» There is no minimum-area requirement of 120 sq m here, but the change-of-use process is a separate piece of bureaucracy involving engineers and permits.

Route 2. Restoring a listed building. You acquire a property of historical or cultural value and commit to restoring it. The conditions are strict:

• Before paying a deposit, preliminary approvals are required from the municipality and the relevant council for protected buildings.
• The investor is obliged to actually complete the restoration - this is not a formality.
• If the restoration is not carried out, the residence permit is revoked and the investor faces an administrative fine of 150,000 euros.

Both routes are for those ready to engage with a project rather than simply wire money for a finished apartment. In return, the entry threshold is 150,000-550,000 euros lower than the standard options. A full analysis of both scenarios is in a separate material on the Greek Golden Visa for 250,000 euros.

Short-term rental (Airbnb) is banned: what is and is not allowed

This rule upends the plans of many investors who counted on recouping their investment through daily rentals. Since 2024 a property bought for the Golden Visa cannot be let short-term - that is, through Airbnb, Booking, and similar platforms. The ban is explicit and strictly enforced.

The consequences of a violation are serious: short-term letting of a Golden Visa property risks revocation of the residence permit and an administrative fine of 50,000 euros. So you risk not only money but the status itself.

What is allowed in this case:

• Long-term rental - allowed. The law allows letting the property under a long-term lease (as a rule, six months or longer). This is a legal way to earn passive income from the property without breaching the program's conditions.
• Resale - allowed. If you decide not to renew the residence permit, the property can be sold. An important nuance: on sale the seller loses the right to the Golden Visa, while the new owner can file their own application for the same property.
• Living there yourself - allowed. No one requires you to rent the property out; you can use it as your own home or come and go as you please.

The practical takeaway: you can no longer view the Golden Visa as a tool for daily rental income. It is either housing for yourself or an asset for long-term rental and capital appreciation. If yield was your main motivation, the strategy needs to be rebuilt - and we help do exactly that at the property-selection stage.

The purchase process step by step: from AFM to the residence permit card

The path from the decision to buy property to holding the residence permit card follows a clear sequence. Let us go through it step by step.

• Step 1. Obtaining the AFM (tax number). Without a Greek AFM tax number, no property transaction and no financial operation is possible. It is obtained at the tax office through a representative acting under a power of attorney - you do not have to be present in person.
• Step 2. Opening a bank account. A Greek bank account is needed to settle the transaction and to prove the legal origin of the funds. This is also where the compliance check on the source of the money takes place.
• Step 3. Selecting and vetting the property. A property is selected to match the required threshold and area, and a lawyer verifies the clean title, the absence of debts and encumbrances, and compliance with the program's requirements.
• Step 4. The notarial transaction. The final sale-and-purchase contract is signed before a notary, and the property transfer tax is paid.
• Step 5. Registering the title. The transaction is registered in the land registry - from that moment you are the official owner.
• Step 6. Filing the residence permit application. The documents are filed with the migration authority. A temporary certificate (the so-called blue paper) is issued immediately, allowing you to enter Greece freely.
• Step 7. Submitting biometrics. The investor and family members travel to Greece, provide fingerprints, and have their photos taken.
• Step 8. Issuance of the residence permit card. The plastic residence permit cards are produced and issued within a few months.

The full cycle usually takes around 6-9 months. The program requires no minimum residence in the country. How to buy a property correctly and what to look for when choosing, we covered in detail in the guide on buying property in Greece.

New-builds and off-plan: can you buy under-construction housing

A frequent question: does an under-construction (off-plan) property or a new-build from a developer qualify for the Golden Visa. The answer requires care, because there are many nuances here.

A completed new-build - a primary-market property from a developer - qualifies just like resale housing, provided the threshold, the 120 sq m area, and the one-property rule are met. Everything here is transparent: you buy a finished property, register the title, and apply for the residence permit.

Off-plan housing is trickier. For the Golden Visa it is critical that the investment has actually been made and the ownership title registered. If the property is not yet completed, it is essential to structure the deal correctly so that it counts toward the program - through a notarial contract and registration of title to the under-construction property or a share of it. In practice this requires careful legal groundwork, because the migration authority looks at the amount actually invested and the registered title, not at the development plan.

It is worth remembering the 250,000-euro conversion route separately: there the change of use must be completed before filing, and for a listed-building restoration the investor is obliged to see the works through to the end. In other words, an «under-construction» status is not acceptable for these routes at the time of filing.

The takeaway: a new-build is fine, but if the property is not yet completed, the deal structure must be built in advance with a lawyer so that the investment is guaranteed to count toward the Golden Visa through real estate.

Who can be included in the application: the investor's family

One of the program's main advantages is that a single application covers the whole family, and each family member is issued their own residence permit card on the same terms as the main investor. There is no need to buy additional property for relatives - one property covers the threshold for the entire family.

Who can be included:

• A spouse of the main investor (including a registered partnership).
• Children under 21 - both shared children and each spouse's children.
• Parents - of both the investor and the spouse.

This makes the Greek Golden Visa a convenient family solution: with a single investment you secure a European residence permit for several generations at once. Children gain access to European education, and parents to healthcare and legal residence within Schengen.

An important nuance regarding children's age: when a dependent child reaches the age limit, their status must be reassigned in good time to an independent basis so as not to lose the residence permit. This is a common situation that we plan for in advance for families with growing children.

Is the Greek Golden Visa available to Russians and CIS citizens

Yes, the Greek Golden Visa through real estate is available to citizens of Russia and other CIS countries. The program is open to all non-EU investors, and there is no formal citizenship-based ban. But there are practical specifics that are important to understand in advance.

• Enhanced source-of-funds checks. After 2022, compliance on funds from Russian investors has tightened. You need to document the origin of the funds transparently - where the money comes from, its legality, and how it flowed. This is manageable, but requires careful preparation of the document package.
• No circumvention of sanctions. The transaction is carried out strictly within the legal framework. Sanctioned individuals will not be able to obtain the program, and no schemes to circumvent restrictions exist - this is a matter of principle.
• Entry for biometrics. To submit biometrics you need to physically travel to Greece. The logistics of entry (via a Schengen visa or another lawful route) should be planned in advance.
• Settlements through a bank. Payments go through a Greek bank account with full checks. The transfer of funds must be structured so that it passes the bank's compliance.

In summary: for a law-abiding investor with transparent funds, the Greek Golden Visa is a workable and accessible route to an EU residence permit. The main effort shifts toward properly documenting the source of funds, and this is exactly where professional support is critical - support that resolves the bank's and the migration authority's questions in advance.

Typical investor mistakes: an expert's view

Over our time working with the program we see that investors are tripped up not by rare quirks but by the same recurring mistakes. Let us go through the main ones so you do not lose money and time.

• Relying on outdated thresholds. Many still believe that entry into the program is 250,000 euros on any apartment. This rule was abolished in August 2024. Ready-built housing today means 400,000 or 800,000 euros.
• Trying to assemble the amount from several apartments. The one-property rule makes this impossible. Splitting money across studios is a direct path to refusal.
• Buying a property smaller than 120 sq m. A compact apartment will not qualify for the main thresholds, no matter how much you like it.
• Counting on Airbnb income. Short-term letting of a Golden Visa property is prohibited under threat of a 50,000-euro fine and revocation of the residence permit. Income comes only from long-term rental.
• Underestimating the 250,000-euro route. Conversion and restoration require permits and completion of works before filing; you cannot invest and forget - otherwise there is a fine of up to 150,000 euros.

The Greek Golden Visa forgives caution but does not forgive haste or relying on outdated articles. The earlier the strategy for choosing a property and documenting funds is built, the calmer and faster the whole journey goes. It is always worth verifying the current conditions on the official portal of the Greek Ministry of Migration.

We will select a property to fit your budget and threshold

Choosing a property for the Golden Visa is not buying an apartment to live in - it is a legal project where everything matters: the correct threshold, an area of at least 120 sq m, a clean title, and the proper handling of the conversion or restoration for the 250,000-euro threshold. A mistake at the property-selection stage turns into a residence permit refusal and the loss of your deposit.

We handle the process of obtaining a Greek residence permit through a property purchase turnkey: we select a property to fit your budget and the required threshold, verify the legal title, run the deal at the notary, and file the application with the migration authority. Discuss your situation with a BRIDGES GLOBAL lawyer - we will calculate the project budget and propose specific properties for the Greek Golden Visa through real estate.

The minimum area of 120 sq m and why it matters

One of the reform's key innovations is a minimum property area of 120 square meters. This requirement applies to the main thresholds of 400,000 and 800,000 euros. The logic is the same as with the zones: the state wants investment to go into proper housing, not into splitting money across studios just to formally meet the amount.

What this means in practice:

• Small apartments drop out. A studio or one-room apartment of 45-60 sq m, even if it costs the required amount, will not qualify for the Golden Visa. You need a property of at least 120 sq m.
• The area and the amount must come together in a single property. You cannot top up the floor area by buying a second small apartment - the one-property rule applies (see below).
• For the 250,000-euro conversion route there is no area restriction. When you convert a commercial property into residential, the 120 sq m requirement does not apply - there its own change-of-use conditions govern.

In the market this shifted investors' focus away from compact studio apartments in central Athens (which used to be bought specifically for the program) toward spacious housing in the regions. For a family this is actually a plus: 120 sq m is a proper three- or four-room apartment or a small house you can genuinely live in, not just hold for the sake of status.

Conclusion: who suits which property for the Greek Golden Visa

Let us bring it all together. The Greek Golden Visa through real estate in 2026 is a residence permit in an EU and Schengen country granted for a single property, with no requirement to live in the country, covering the whole family and renewable every five years. The choice of route is determined by budget and by your willingness to engage with the project.

• Budget of 250,000 euros - only for those ready for a project: converting commercial property into housing or restoring a listed building, with permits and completion of works before filing.
• Budget of 400,000 euros - the optimal mainstream option: ready-built housing or commercial property of at least 120 sq m in regions outside the premium zones, as a single property.
• Budget of 800,000 euros - a prestigious location: Athens, the Riviera, Thessaloniki, Mykonos, Santorini, and the larger islands, also at least 120 sq m and as a single lot.

The key things to keep in mind: short-term rental is prohibited, splitting the amount is not allowed, the minimum area is 120 sq m, and the old 250,000-euro threshold for ready-built housing no longer applies. If you match your budget to this logic and verify your source of funds in advance, the Greek Golden Visa becomes one of the most reliable routes to residence in Europe. To compare thresholds and regions, see our materials on the golden visa zones and the full cost of the program.