Greece’s Golden Visa still has a €250,000 property entry point in 2026, but only in specific circumstances. The standard real-estate threshold is €800,000 in Attica, the Regional Unit of Thessaloniki, the Regional Units of Mykonos and Thira, and islands with more than 3,100 residents. Elsewhere, it is €400,000. The €250,000 property threshold applies to qualifying changes of use to residential property and purchases involving listed buildings to be restored or reconstructed.

This article explains how the three thresholds work and the different conditions attached to the two €250,000 routes.

Why the €800,000 figure isn’t the whole story

Article 100 of Law 5038/2023, as amended by Article 64 of Law 5100/2024, introduced the current location-based thresholds. In the €800,000 and €400,000 categories, the investment generally has to concern one property. Where the property is already built or has a building permit, it must have at least 120 sqm of main-use space.

Read the full Greece Golden Visa requirements for the wider eligibility rules and the full cost breakdown of the Greece Golden Visa for costs beyond the acquisition price.

The position is different where a property qualifies for one of the €250,000 categories.

The two ways to qualify at €250,000

Route	What it involves	Where it applies	Size rule
Commercial to residential conversion	Buying a property whose main-use space has been lawfully changed to residential use	Nationwide	No 120 sqm minimum
Listed building route	Buying a qualifying listed building, part of one, or property containing one, for restoration or reconstruction	Nationwide	No 120 sqm minimum

Both routes require an acquisition value of at least €250,000 and generally concern a single property. However, their timing rules are different.

Route one: commercial to residential conversion

For the change-of-use route, the property’s main spaces must be legally converted to residential use. The change can be completed by either the seller or buyer, but it must have taken place after 5 April 2024 and be completed before the Golden Visa application is submitted.

Where an industrial building is involved, no industrial activity can have been installed and operating there during the previous five years. An engineer’s report is required to confirm the change of use and, where applicable, the industrial-use history.

This makes legal and technical checks essential. A property marketed as a conversion opportunity is not automatically eligible simply because it was previously an office, shop or other commercial unit. The planning records and formal use classification need to support the route.

The Greece Golden Visa property search can help when comparing qualifying properties.

There is another restriction. Property qualifying through the change-of-use provision cannot be used as the registered office or branch of a business. Breaching that restriction can result in revocation of the residence permit and a €50,000 administrative fine.

Route two: restoring a listed or heritage building

The listed-building route works differently. The investor must acquire property containing a building, or part of a building, formally designated as listed, with a minimum acquisition value of €250,000.

Crucially, full restoration does not have to be completed before the initial residence-permit application. The official initial-issuance procedure expressly covers listed buildings “to be restored or reconstructed”.

The restoration or reconstruction must, however, be completed before the first five-year renewal. The property cannot validly be transferred before full restoration or reconstruction is finished. Breaching the restoration or transfer requirements can result in permit revocation and a €150,000 administrative fine.

That makes this route fundamentally different from a finished €400,000 or €800,000 property. Buyers should budget for restoration costs and obtain confirmation of the property’s formal listed status before committing.

Why this matters most in Athens, Mykonos and the €800,000 zones

The €250,000 categories apply nationwide, so they can potentially be used in areas where an ordinary qualifying property would otherwise require an €800,000 investment.

That makes a compliant residential conversion or listed-building project in Athens, Thessaloniki, Mykonos or Santorini potentially attractive to someone who wants a specific location without acquiring an ordinary property at the €800,000 threshold.

The lower acquisition threshold should not be confused with a lower total project cost. Conversion work, restoration, professional fees and delays can substantially increase the overall commitment.

The Greek government’s guidance on the golden visa investment route sets out the current documentation for the change-of-use category, while the 2026 guidance clarified matters including the 120 sqm rule and the timing of conversions.

What “completed before you apply” actually means

This rule applies to the change-of-use route, not the listed-building route.

For a conversion, the legal change to residential use must already be completed and evidenced before the Golden Visa application is submitted. A planned future conversion is not enough.

For a listed building, the initial permit can be granted while restoration or reconstruction remains outstanding. Completion becomes an additional condition for the first renewal.

That distinction matters when comparing project timelines. A conversion can delay the initial application if the change of use is not yet legally complete. A listed property can support the initial application earlier, but leaves the investor with a significant restoration obligation before renewal.

The rules that still apply regardless of which threshold you use

Properties acquired for the current Golden Visa regime cannot be rented on a short-term basis within the sharing economy. Long-term letting remains possible, subject to the applicable legal and tax rules. Read our guide to renting out your Golden Visa property before relying on rental income.

The qualifying acquisition price must also be paid in full before the residence-permit application using one of the permitted payment methods. A financing arrangement therefore cannot leave part of the statutory acquisition price unpaid when the application is filed.

The investor permit is issued for five years and can be renewed for further five-year periods while the qualifying conditions continue to be met. Our guide to renewing every five years explains the process. Absence from Greece does not itself prevent renewal.

Residence status should also be separated from tax residence. Read Greek tax residency and the Golden Visa and how tax residency day counting works if you plan to spend substantial time in Greece.

Choosing between the €250,000 route and paying €400,000 or €800,000

The €250,000 threshold is not automatically the lowest-risk option. A conversion requires the legal change of use to be complete before applying. A listed-building investment carries restoration obligations, limits on transfer and potentially substantial construction costs.

For buyers who want a completed property and a simpler transaction, a standard €400,000 property outside the higher-threshold areas may be more straightforward.

Compare the full breakdown of Golden Visa application costs alongside the acquisition and project costs rather than looking only at the headline threshold.

The more technical €250,000 categories also make professional due diligence particularly important. Understanding the difference between a lawyer rather than a consultant matters when planning the legal work. Buyers should understand what a Golden Visa solicitor actually does and may prefer a London based Golden Visa solicitor coordinating with Greek counsel.

If neither route fits your circumstances

Property is not the only way to obtain residence in Greece. The Greece Financially Independent Person visa is a separate route that may suit qualifying applicants who do not want to make a property investment.

Investors also compare Greece with Portugal’s Golden Visa and Hungary and Malta’s residency programmes.

Outside the EU residency context, Dominica and St Lucia’s citizenship by investment programme are citizenship programmes rather than European residence routes. Understanding residency by investment versus citizenship by investment is therefore important before comparing them.

Other options include Italy’s investor visa, while the best Golden Visa options in Europe provides a broader comparison. Market interest also continues to shift, as discussed in why Greece and Cyprus are gaining ground.

Frequently asked questions

Can I still buy a normal flat in Greece for €250,000 and get a Golden Visa?

Not under the current standard property rules. An ordinary residential purchase is generally subject to the €400,000 or €800,000 threshold depending on location. The €250,000 property threshold is reserved for qualifying change-of-use properties and listed-building investments.

Does the €250,000 route work in Athens or Mykonos, where the standard threshold is €800,000?

Yes. The two €250,000 property categories are not restricted to lower-threshold areas, so a qualifying property in Attica, Mykonos, Thessaloniki or Thira can potentially use the €250,000 threshold.

Do I need to finish the renovation myself?

No. For a change-of-use property, the seller or buyer can complete the conversion, but it must be completed before the application. For a listed building, restoration can continue after the initial permit is issued, but must be completed before the first renewal.

Is the 120 sqm minimum size rule relevant to the €250,000 route?

No. The 120 sqm requirement applies to built properties, or properties with a building permit, under the standard €400,000 and €800,000 categories. It does not apply to either €250,000 property category.

Are there other non-property ways to invest €250,000 for a Greek Golden Visa?

Greek law also provides a separate residence route for an investment of at least €250,000 in a startup registered with the National Startup Registry, Elevate Greece. Among other conditions, the investment cannot give the investor more than 33% of the capital or voting rights, and the business must create at least two new jobs within the first year and maintain the required employment level for five years. The route was introduced by Law 5162/2024 and is separate from the property Golden Visa provisions.

If you are deciding between a standard property purchase and one of the €250,000 routes, Coates Global’s immigration lawyers can help you compare the eligibility requirements, costs and timing before you commit.