If you are considering a Greek Golden Visa through property, the 2026 position is now much clearer than it was during the first phase of the reforms. Greece’s Ministry of Migration and Asylum published Circular No. 1/2026 on 22 April 2026, giving practical guidance on how the reformed investor residence rules should be applied by the authorities.

The circular does not create the main threshold rules by itself. Those sit within Greece’s immigration framework, particularly Article 100 of Law 5038/2023 as amended by the 2024 reforms. What the circular does is explain how the rules should work in real applications, including co-ownership, property size, change-of-use projects, renewal evidence and restrictions on short-term letting.

For investors, that distinction matters less than the practical result. Your application will be assessed against the law, but case officers will rely heavily on the circular when deciding whether your property, ownership structure and evidence meet the programme requirements.

The Greece country page gives a current overview, while the Greece Golden Visa service page explains the legal process for applicants.

What Circular No. 1/2026 Actually Clarifies

Circular No. 1/2026 is operational guidance. It helps authorities apply the current Golden Visa rules consistently after the 2024 threshold changes created uncertainty for buyers, lawyers, developers and migration officials.

The main issues it clarifies include:

Issue	Why It Matters
Zone thresholds	Confirms how the €800,000, €400,000 and €250,000 categories operate
Property size	Explains the 120 sq m requirement for built property under the main real estate routes
Co-ownership	Confirms how married couples and civil partners are treated
Change-of-use and listed buildings	Clarifies when the €250,000 route can apply
Short-term letting	Confirms the limits on Airbnb-style use for qualifying properties
Renewal evidence	Explains the need to maintain the qualifying investment

For a buyer, the most important message is simple: you cannot judge a Greek Golden Visa property by price alone. The property type, location, size, use, ownership structure and future rental plan all matter.

The Current Greek Golden Visa Property Thresholds

The old €250,000 flat property route no longer applies to most new property purchases. Greece now uses a tiered structure.

In high-demand areas, the minimum real estate investment is €800,000. These areas include the Region of Attica, the Regional Unit of Thessaloniki, Mykonos, Santorini and Greek islands with a population of more than 3,100.

In the rest of Greece, the minimum real estate investment is €400,000.

The €250,000 route still exists, but only for specific qualifying categories, mainly properties converted from another use into residential use, or listed buildings requiring restoration or reconstruction. These are not ordinary resale property purchases.

Route	Minimum Investment	Key Conditions
High-demand areas	€800,000	Usually 1 property, with at least 120 sq m for built property
Other regions	€400,000	Usually 1 property, with at least 120 sq m for built property
Change-of-use or listed building route	€250,000	Specific legal conditions apply, with conversion or restoration obligations

The 120 sq m rule is often misunderstood. It is not limited only to the €800,000 areas. For the main €800,000 and €400,000 built-property routes, the investment must usually be made in 1 property with a main-area surface of at least 120 sq m. Ancillary spaces such as parking or storage may count towards value in some cases, but they do not usually count towards the 120 sq m main-area requirement.

The Greece Golden Visa requirements page covers the qualifying conditions in more detail, and the Greece Golden Visa cost guide explains the wider cost structure.

What Joint Ownership Means For Couples

One useful clarification concerns spouses and civil partners buying together.

Where co-owners are spouses or civil partners, they can jointly satisfy the minimum investment amount through 1 qualifying property. This is different from unrelated co-investors, where each investor’s share generally needs to meet the relevant threshold separately.

However, this does not usually mean both spouses receive separate investor permits from the same investment. The circular explains that 1 spouse or civil partner is granted the investor residence permit, while the other receives residence as a family member. In practical terms, both can benefit from the family residence structure, but the permit category is not identical for both.

For a couple buying a €400,000 qualifying property outside the high-demand zones, this can still be very useful. They do not usually need 2 separate properties or 2 separate investments simply because both names are on the title.

The Greece Golden Visa for families explains how dependants are treated more broadly.

Change-Of-Use And Listed Building Projects

The €250,000 route remains attractive, but it is narrower than many investors assume.

For change-of-use properties, the key point is that the property’s main areas must be converted into residential use before the residence permit application is submitted. These projects need careful legal and technical due diligence because the buyer must prove that the property genuinely qualifies under the relevant provision.

For listed buildings, the rules are also specific. The route can apply to real estate consisting of listed buildings to be restored or reconstructed, parts of listed buildings, or property within which a listed building is located. Restoration and reconstruction obligations are important, especially at renewal.

Another important point is resale. A property that has already been used once under the favourable €250,000 change-of-use or listed-building route cannot necessarily be sold on to another Golden Visa applicant at the same reduced threshold. Once the property has become a residence, the standard €400,000 or €800,000 thresholds may apply to a later buyer.

The post on buying Greek property as a UK resident is useful for British applicants considering these structures, and the Greece Golden Visa renewals guide explains the evidence required later.

The Short-Term Rental Rule

The short-term rental restriction is one of the most important compliance points for investors.

For properties acquired under the current Golden Visa rules, short-term letting through the sharing economy is prohibited. This includes Airbnb-style arrangements and similar short-stay models. Breach can lead to serious consequences, including administrative fines and permit revocation or non-renewal.

The circular also clarifies that the prohibition is not quite as broad as some commentary suggested. It is aimed at short-term letting and subletting within the sharing economy framework. Long-term residential letting is generally not the same thing. Certain professional tourism arrangements may also be treated differently, depending on the structure, services offered and legal classification of the property.

For most private investors, the practical message is still clear. Do not build your Golden Visa financial plan around Airbnb income unless Greek counsel has confirmed that your specific structure is lawful. Long-term letting is usually the safer planning assumption.

The Greece Golden Visa and renting your property covers this in more detail. Investors comparing rental income and residency planning may also find the Greece vs Portugal Golden Visa useful.

VAT And Purchase Costs In 2026

Greece has extended the VAT suspension on certain new-build real estate transactions to 31 December 2026 under Law 5246/2025. This can make a significant difference to the total cost of buying a qualifying new property, because the standard Greek VAT rate on new buildings would otherwise be materially higher than the property transfer tax position.

The suspension does not mean every property purchase is VAT-free in every situation. It depends on the property, developer position and applicable tax rules. Buyers should get tax and legal advice before relying on a cost saving.

The Greece Golden Visa cost guide sets out the main transaction costs, including taxes, legal fees, notary fees and application charges.

Application Process And Timing

Applications can be submitted through Greece’s official digital and migration systems, often by an authorised lawyer where the power of attorney and presence requirements are correctly handled. The circular gives practical detail on how authorisations should be evidenced, including cases where electronic authorisation through gov.gr is used.

A clean application can often be planned around a several-month timeline, but timing is not guaranteed. Property due diligence, document legalisation, translation, appointment availability, family-member files and authority workload can all affect the process.

The key is preparation. You should not commit to a property until your lawyer has checked the title, permitted use, size, threshold zone, payment method, seller documentation and Golden Visa eligibility.

Alternative Greek Routes

Property remains the best-known Greek investor route, but it is not the only option.

Greece also offers other residence options linked to investment funds, capital contributions, deposits, bonds and business investment structures. The startup route has also attracted attention because it allows investment into eligible Greek startups, subject to specific conditions.

For applicants who do not want to buy property, the Greece FIP visa route may be relevant if they have stable passive income rather than a capital sum to deploy. A greece fip visa solicitor can advise on whether that route fits your circumstances.

For investors weighing Greece against other EU options, securing European residency in Portugal and Greece in 2026 and the best Golden Visa in Europe overview are useful starting points.

If you want a low-maintenance EU residence route without property management, the 10-year advantage of the Hungarian Golden Visa and a hungary investor visa solicitor may be relevant. The firm’s comparing residency and citizenship programmes page and residency by investment programmes overview set out the wider field.

What Existing Investors Should Check

If you already hold a Greek Golden Visa through property, the circular is still relevant.

First, check whether your property was acquired under the old rules or the current rules. The short-term letting restriction does not apply in exactly the same way to every historical case, and transitional protection may matter. Do not assume that an online article gives you the answer for your own permit. Check the purchase date, application date and legal basis of your approval.

Second, review your renewal position. You need to maintain the qualifying investment. If you sell the property, reduce your ownership interest, divide the asset or dispose of part of a development, you may affect your ability to renew.

Third, check family-member permits. The circular provides useful guidance on how family members derive residence rights from the main investor. The Greece Golden Visa renewals guide is a good place to start.

If you are considering spending more time in Greece, read Greek tax residency vs the Greek Golden Visa. Holding a residence permit and becoming Greek tax resident are not the same thing. The post on global demand for second citizenship gives wider context for investors building long-term mobility plans.

What New Investors Should Do In 2026

If you are buying now, treat legal due diligence as part of the investment, not an afterthought.

Before signing, confirm:

• Which threshold applies to the property

• Whether the property is in Attica, Thessaloniki, Mykonos, Santorini or an island above the population threshold

• Whether the property is 1 qualifying unit

• Whether the 120 sq m rule is met

• Whether the €250,000 route genuinely applies

• Whether your intended rental use is permitted

• Whether your co-ownership structure works for your family

• Whether the transaction tax position has been checked

• Whether the property will remain compliant at renewal

For UK applicants, the residency by investment lawyer London post explains why UK-regulated advice can be useful at the planning stage, and the residency by investment solicitor overview covers documentation and process.

You should also think about due diligence more widely. The post on EU tightening due diligence across golden visa programmes is useful context, and Greece and Cyprus gaining ground in second citizenship and residency demand explains the wider market shift. The second passport practicalities post is relevant if you are thinking about future citizenship rather than residence alone.

For investors combining European residence with Caribbean citizenship, an antigua & barbuda citizenship by investment lawyer or st lucia residency by investment solicitor can advise on those routes. For EU citizenship routes, a malta citizenship by investment lawyer can explain the current Maltese position. The residency by investment vs citizenship by investment guide explains the difference, and the golden visa lawyer vs consultant comparison is worth reading before choosing an adviser.

Two Worked Examples

Consider a couple from London who want a Mediterranean base and EU residence. They target a qualifying 130 sq m apartment in Thessaly for €410,000. Since the property is outside the high-demand zones, the €400,000 threshold applies. The property is 1 built unit and meets the 120 sq m requirement. The couple buy jointly. One spouse is treated as the main investor and the other as a family member. They plan to use the property themselves and let it on a long-term residential basis when not using it. That structure is much cleaner than relying on short-term tourist letting.

Now consider a UK investor who bought a smaller Athens apartment in 2022 under the old threshold and has been using it for Airbnb. The current €800,000 threshold does not automatically apply to invalidate the old permit, but the rental position needs careful review. Transitional rules, the acquisition date, the permit basis and renewal evidence all matter. The investor should get Greek legal advice before renewal rather than assuming the old structure remains risk-free.

Common Mistakes

The most common Greek Golden Visa mistakes in 2026 are:

• Checking only the property price, not the zone, use and size rules

• Assuming the €250,000 route still applies to ordinary residential resales

• Buying a property below 120 sq m under the main €400,000 or €800,000 route

• Assuming both spouses receive separate investor permits from 1 joint purchase

• Building the return model around Airbnb-style income

• Selling or altering the qualifying property before checking renewal consequences

• Using a property agent as if they were an immigration lawyer

The post on what an investment migration law firm does explains the legal scope involved, and the golden visa lawyer vs consultant comparison explains why the distinction matters.

Frequently Asked Questions

What Is Circular No. 1/2026?

It is operational guidance published by Greece’s Ministry of Migration and Asylum on 22 April 2026. It explains how the current Greek Golden Visa rules should be applied in practice, including property thresholds, co-ownership, evidence requirements and rental restrictions.

What Are The Current Greek Golden Visa Property Thresholds?

The main thresholds are €800,000 in high-demand areas, €400,000 in the rest of Greece, and €250,000 for specific qualifying change-of-use or listed-building projects. The main €800,000 and €400,000 built-property routes generally require 1 property of at least 120 sq m.

Can I Use My Golden Visa Property As A Holiday Rental?

Short-term letting through the sharing economy is prohibited for properties acquired under the current rules. Long-term residential letting is usually different, but you should check your own structure with Greek counsel.

If My Spouse And I Buy Jointly, Do We Both Qualify?

A spouse or civil partner can benefit from the same qualifying investment. Usually, 1 person receives the investor permit and the other receives residence as a family member.

Is The VAT Suspension Still Available?

The VAT suspension on certain new-build real estate transactions has been extended to 31 December 2026. You should confirm whether your specific transaction qualifies before relying on the saving.

How Does Greece Compare With Portugal Or Hungary?

Greece still offers a property-based route, while Portugal no longer offers a property route under its Golden Visa programme. Hungary offers a different long-validity investor residence structure. The right choice depends on whether you prioritise property ownership, citizenship planning, rental income, cost, simplicity or long-term relocation. The Greece vs Portugal Golden Visa comparison covers the key trade-offs.

Talk Through Your Situation With A Specialist

Circular No. 1/2026 has made the Greek Golden Visa easier to analyse, but not necessarily simple. The threshold zones are clearer, the co-ownership position is more settled, the short-term letting rules are better defined, and the evidence expectations are more practical. That helps investors, but it also leaves less room for casual assumptions.

If you want to assess whether a Greek property qualifies, understand the rental and compliance obligations for an existing permit, or compare Greece with other EU residency options, Coates Global can review your circumstances and set out the route that suits you. Get in touch to start that conversation.