It should be made clear that the minimum threshold for entry into the Golden Visa program in Greece is currently 800.000 euros for Attica (Athens region), Thessaloniki (the second largest city in Greece) and the islands of Mykonos and Santorini, as well as for islands with a population of over 3.100 inhabitants. (Greece has thousands of islands and islets, of which at least 120 are inhabited). In the rest of Greece, the minimum threshold is 400.000 euros. However, if the property being purchased is part of a former industrial, commercial or office building that has recently been converted into a residence, the threshold is reduced to 250.000 euros.
The Golden Visa investment program through the purchase of real estate in Greece has been particularly popular for the past ten years or so. Initially, the minimum investment amount was 250.000 euros throughout the country. However, the government recently increased the limit to 400.000 euros and in popular areas to 800.000 euros. As expected, the number of applications has decreased, but the program continues to attract interest from around the world, as it provides a five-year residence permit in Greece for the investor and his family members, which is renewable as long as the ownership of the property is maintained.
The new development is that at the end of 2025 the Greek government issued the long-awaited ministerial decision that sets out the technical and other conditions for the implementation of the 250.000 euro exemption. This means that there is still a way for a third-country national (outside the European Union) to obtain a Golden Visa permit in Greece by purchasing a property with a minimum value of 250.000 euros. This exemption concerns the purchase of a unit, apartment or even a residence in a building that originally had commercial, industrial or office use and has recently been appropriately converted into a residence.
There are currently dozens of projects in Athens and other parts of Greece where abandoned commercial, industrial, warehouse and office buildings are being converted into residential properties, which are offered at prices starting from 250.000 euros and above to those interested in a Golden Visa. It is expected that this opportunity will rekindle the interest of foreign investors in the Greek real estate market, in exchange for a residence permit for themselves and their immediate family.
It should be noted that properties acquired under this exemption (minimum amount of 250.000 euros) may not be rented out for short-term rentals, such as through Airbnb or Booking. They may also not be used as the official headquarters or registered address of a company.
The so-called Golden Visa residence permit, in addition to the unlimited five-year residence in Greece, provides the investor and his immediate family members (spouse, children under 21, parents and in-laws) with the possibility of free movement without a visa within the Schengen zone in Europe. The Schengen zone includes 29 countries, namely 25 member states of the European Union and 4 non-member states (Iceland, Norway, Switzerland and Liechtenstein). Free movement to other Schengen states is usually allowed for up to 90 days within a 180-day period, provided that the interested party has a residence permit in Greece.
Finally, the Greek Golden Visa does not require a minimum stay in Greece. Beneficiaries can obtain the permit once they purchase the appropriate property and during the five-year period can stay in Greece as long as they wish or not at all, while the right to renew after the five-year period is guaranteed, as long as they are still the legal owners of the property.
photo Greek Radio FL
