Leyla, an investor from Baku, came with a specific figure: a Greek Golden Visa for 250,000 euros. But everyone quoted her 400,000 or even 800,000 euros, and she did not understand why.
After the reform, an ordinary home purchase starts at 400,000 euros, and in premium areas such as Athens and the large islands at 800,000. The 250,000 euro threshold remained for only two cases: converting commercial premises into housing and restoring a listed building. Buying a ready flat for 250,000 and receiving residence for it is not possible.
We found commercial premises suitable for conversion, arranged the change of use and structured the purchase to meet the conditions of the reduced threshold. Leyla received a Greek Golden Visa for 250,000 euros. Below we explain how this route works.
Case at a glance
Situation, solution and outcome in seven lines
Client
Leyla, about 34, an investor from Baku
Objective
Greece's Golden Visa for €250,000
Program
Greece, Golden Visa (Residence Permit through real estate investment, pathway to permanent residency and EU citizenship)
Preferential Condition
€250,000 threshold only through commercial-to-residential conversion or building restoration
Requirement
Single property with minimum area of 120 sq.m
Does Not Apply To
Standard purchase of ready-made residential property (costs €400,000 or €800,000)
Result
Golden Visa issued at €250,000 threshold
Client story
Client's Story
Where they started
The client came with a specific figure: I want Greece's Golden Visa for €250,000, the minimum possible entry. He had heard about this threshold, but could not understand why he was being quoted €400,000 or even €800,000 everywhere. Here lies the essence of the reform: after the threshold increase, the preferential €250,000 entry was preserved, but not as a universal option, only for specific transaction types.
Why the standard route did not work
The logic is as follows. Premium zones (Athens, Thessaloniki, Mykonos, Santorini and major islands) now cost from €800,000, the rest of Greece - from €400,000. The €250,000 threshold is available only in two cases: conversion of a property that previously had non-residential (commercial) designation into residential, or restoration of a building recognized as requiring renovation. In other words, you cannot simply purchase a ready-made apartment for €250,000 and obtain a residence permit - under this threshold, the property must either be converted from commercial to residential use, or restored.
What BRIDGES had to solve
An important requirement often overlooked is area. A property under the preferential threshold must be a single unit with a minimum area of 120 square meters. This prevents subdivision and small properties: €250,000 must be invested in one property of 120 meters or more that has undergone conversion or restoration.
Why a standard answer would not do
At BRIDGES, we identified and completed exactly such a transaction: we found a suitable commercial property of 120 sq.m or larger, arranged its conversion to residential designation, and conducted the purchase in compliance with the €250,000 preferential threshold conditions. As a result, the client obtained a Golden Visa at the minimum entry point, rather than overpaying up to €400,000 for a standard apartment.
Everyone told me about 400 and 800 thousand euros. Maria showed that the 250 thousand threshold exists for converting commercial premises into housing and worked out three such properties on one page. I chose myself, by the numbers.
What Was at Risk
What Was at Risk
There was no disaster - there was a risk of overpaying or selecting the wrong property type. The client could have assumed that €250,000 applied to any purchase, buy a ready-made apartment and not qualify for the preferential threshold (it does not apply there), or select a property smaller than 120 sq.m and fall outside the requirements. The key was understanding that the €250,000 threshold only works through conversion or restoration of a property of 120 meters or larger, and to complete exactly this type of transaction.
That following the reform, base thresholds are €400,000 (countrywide) and €800,000 (premium zones);
01That the preferential €250,000 threshold is available only through commercial-to-residential conversion or building restoration;
02That standard purchase of ready-made residential property at €250,000 does not qualify for the Golden Visa;
03That the property must be a single unit with minimum area of 120 sq.m;
04That the designation conversion must be properly documented, not merely stated.
The logic of the solution
How the matter progressed: from checks to result
The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.
01
Stage 1
We clarified how the €250,000 threshold operates. First, we showed the client that preferential entry is tied not to price, but to the transaction type: commercial-to-residential conversion or restoration. This determined our property search strategy.
02
Stage 2
We identified a suitable property of 120 sq.m or larger. We were not looking for a ready-made apartment but for a commercial property that could be converted to residential use, as a single unit with a minimum area of 120 square meters - meeting the preferential threshold requirement.
03
Stage 3
We arranged the conversion of use. We executed the transfer of the property from non-residential (commercial) to residential use - this conversion itself, not the purchase transaction, unlocks the €250,000 threshold.
04
Stage 4
We structured the purchase to qualify for the preferential rate. We executed the transaction so that the amount and property met the conditions for entry at €250,000, without risk of falling into a higher threshold category.
05
Stage 5
We submitted for Golden Visa. With the properly documented property, we filed the application based on the preferential threshold - the investment was recognized as sufficient.
Takeaway. Greece's Golden Visa preferential threshold of €250,000 is available only through commercial-to-residential conversion or restoration of a property with a minimum area of 120 sq.m; standard purchase of ready-made residential property at this amount does not qualify.
How we solved the problem
How we solved the problem
The work was split into verifiable stages so that every conclusion rested on documents.
01
We clarified how the €250,000 threshold operates
First, we showed the client that preferential entry is tied not to price, but to the transaction type: commercial-to-residential conversion or restoration. This determined our property search strategy.
02
We identified a suitable property of 120 sq.m or larger
We were not looking for a ready-made apartment but for a commercial property that could be converted to residential use, as a single unit with a minimum area of 120 square meters - meeting the preferential threshold requirement.
03
We arranged the conversion of use
We executed the transfer of the property from non-residential (commercial) to residential use - this conversion itself, not the purchase transaction, unlocks the €250,000 threshold.
04
We structured the purchase to qualify for the preferential rate
We executed the transaction so that the amount and property met the conditions for entry at €250,000, without risk of falling into a higher threshold category.
05
We submitted for Golden Visa
With the properly documented property, we filed the application based on the preferential threshold - the investment was recognized as sufficient.
06
We obtained a residence permit at the minimum entry level
The client obtained Greece's Golden Visa for €250,000 - half the cost of premium zones and below the base threshold - because we structured the transaction through conversion rather than purchasing a standard apartment.
How the work went
From first contact to the result
01We clarified how the €250,000 threshold operates
02We identified a suitable property of 120 sq.m or larger
03We arranged the conversion of use
04We structured the purchase to qualify for the preferential rate
05We submitted for Golden Visa
06We obtained a residence permit at the minimum entry level
The sequence and timing reflect this specific case and depend on how complete the documents are and on the decisions of the competent authorities.
Expert comment
The €250,000 preferential threshold is probably the most misunderstood aspect of the Greek program following the reform. People hear "€250,000" and think they can buy any apartment for that amount. That is not correct. The base thresholds are now €400,000 nationwide and €800,000 in premium zones. The €250,000 threshold works only in two cases: you convert a commercial property to residential use or restore a building requiring renovation. The property must be a single unit, no less than 120 square meters. Therefore, to qualify for this threshold, we search for properties suitable for conversion rather than ready-made residential units, and properly execute the change of use - this is what unlocks the preferential rate. The client achieved his goal: Golden Visa for €250,000 instead of €400,000 or €800,000. The key here is understanding the mechanics and executing the transaction strictly according to the conditions, rather than hoping any apartment will suffice.
Outcome
What the client received
Requirements
How We Executed · Result
Entry at Minimum
€250,000 threshold through conversion · Without overpayment to €400,000
Correct Property
Property of 120 sq.m or larger · Area requirement met
Golden Visa application submission · Investment credited
Obtain Residence Permit
Golden Visa application submission · Investment credited
The situation: the client wanted to enter Greece's Golden Visa program at the minimum €250,000 threshold but did not understand why he was being quoted €400,000 and €800,000. What we did: clarified the mechanism of the preferential threshold; identified a property of 120 sq.m or larger suitable for conversion; arranged the change of use to residential; structured the purchase to qualify for the preferential rate; submitted for Golden Visa. What the client obtained: Greek residence permit at the €250,000 threshold.
Conclusion: Greece's Golden Visa preferential threshold of €250,000 is available only through commercial-to-residential conversion or restoration of a property with a minimum area of 120 sq.m; standard purchase of ready-made residential property at this amount does not qualify.
The client entered the program at €250,000 without overpaying - because we structured the transaction through property conversion, as required by the preferential threshold.
Converting a commercial property into residential with an area of 120 sq m or more opens access to the lower investment threshold. We will check whether this route suits you.
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FAQ
Questions people ask in a similar situation
01Can I obtain Greece's Golden Visa for €250,000?
Yes, but only through conversion of a property from commercial to residential use or restoration of a building requiring renovation, with a minimum property area of 120 sq.m. Standard purchase of ready-made residential property at this amount does not qualify for the preferential threshold.
02What thresholds apply following the reform?
Premium zones (Athens, Thessaloniki, major islands, etc.) - from €800,000; rest of the country - from €400,000; preferential threshold €250,000 - only through conversion or restoration of property from 120 sq.m.
03Why is 120 sq.m area important?
This is a condition of the preferential threshold: the property must be single unit and have a minimum area of 120 square meters. Fragmentation and small properties under €250,000 do not qualify.
04What is considered conversion?
Transfer of a property with non-residential (commercial) purpose to residential use. Properly documented conversion (or restoration of a building requiring reconstruction), not the purchase itself, unlocks the preferential threshold.
05What is the long-term benefit of Greece's Golden Visa?
This is a residence permit through real estate investment, which under certain conditions leads to permanent residence and subsequently to the possibility of EU citizenship. Confirm specific timelines and conditions with your consultant.
06Which documents were key in this case?
We clarified how the €250,000 threshold operates. First, we showed the client that preferential entry is tied not to price, but to the transaction type: commercial-to-residential conversion or restoration. This determined our property search strategy. We identified a suitable property of 120 sq.m or larger. We were not looking for a ready-made apartment but for a commercial property that could be converted to residential use, as a single unit with a minimum area of 120 square meters - meeting the preferential threshold requirement.
07Why did the standard route not suit the client?
The logic is as follows. Premium zones (Athens, Thessaloniki, Mykonos, Santorini and major islands) now cost from €800,000, the rest of Greece - from €400,000. The €250,000 threshold is available only in two cases: conversion of a property that previously had non-residential (commercial) designation into residential, or restoration of a building recognized as requiring renovation. In other words, you cannot simply purchase a ready-made apartment for €250,000 and obtain a residence permit - under this threshold, the property must either be converted from commercial to residential use, or restored.
08What risk had to be closed before filing?
There was no disaster - there was a risk of overpaying or selecting the wrong property type. The client could have assumed that €250,000 applied to any purchase, buy a ready-made apartment and not qualify for the preferential threshold (it does not apply there), or select a property smaller than 120 sq.m and fall outside the requirements. The key was understanding that the €250,000 threshold only works through conversion or restoration of a property of 120 meters or larger, and to complete exactly this type of transaction. That following the reform, base thresholds are €400,000 (countrywide) and €800,000 (premium zones);
As Founder and Managing Partner of BRIDGES, I am responsible for the firm's strategy and personally lead its most complex client matters, including cases in which citizenship or residence decisions require a strategic view and consideration of capital.
I begin by defining the objective: the outcome the client needs, the facts that affect the choice, and the matters that require further review. I then establish the available directions, the sequence of work, and the key decision points.
Once the strategy has been agreed, I oversee the BRIDGES team's key decisions and remain involved at the stages that shape the course of the matter. The purpose is to give the client a clear rationale for the chosen direction and a precise understanding of the next steps.
Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.
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Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.
