NEWS

Greece Golden Visa — The €250,000 Route (2025)

The Big Picture:
The €250,000 option still exists, but it’s narrowly defined and therefore hard to source.

It’s not a typical “cheap apartment” route. It’s a project-type route that basically involves:

Completed commercial-to-residential conversions, or

Completed restorations of listed/heritage buildings.

***Availability tends to be outside the booming districts or in non-prime city neighborhoods, because that’s where qualifying buildings (older offices/shops or heritage buildings) is more likely to be found at the €250,000 threshold.

Why it’s difficult to find:

Limited inventory: Truly qualifying, finished conversion/restoration units are scarce. Generally, you should expect supply to be low and competitive, often measured in the hundreds nationwide, not thousands.

Not every €250,000 listing qualifies, the property must fit the legal criteria (conversion or listed asset) and be fully completed with paperwork to prove the new residential use before you can file.

The Greek government has deliberately limited the €250k door to keep the program focused and to avoid distorting mainstream housing markets. That means lower volume by design.

What the €250,000 investment actually allows:

(i) Commercial-to-residential conversions: Buy a property that used to be non-residential (e.g., office, shop) and has been lawfully converted to residential. You must file after the conversion is finished.

(ii) Listed/heritage restorations: Buy a property that’s officially listed and has been properly restored/reconstructed with the required heritage approvals and completion sign-offs.

The investment must be made in one deeded unit. Co-ownership is acceptable only if each co-owner invests at least €250,000.

Where the €250k route is most realistic:

Non-prime neighborhoods of the big cities (Athens/Thessaloniki/Santorini/Mikronos) where older commercial stock is being renovated into smaller apartments.

Secondary cities and provincial capitals that still have obsolete commercial buildings or heritage houses.

Island main towns (not the top tourist hotspots) where listed properties exist and can be restored to code.

In the prime zones that now demand €800,000 for standard purchases, it’s uncommon to find a finished, compliant €250,000 unit; not impossible, just rare to find.

Use restrictions you must accept

Short-term rentals (Airbnb-style) are prohibited for Golden Visa properties. Breaches can lead to fines and even permit cancellation.

The property cannot be used as a registered company seat or a commercial premise.

Plan on owner use or long-term leases. If your strategy relies on nightly yields, the €250,000 path is not a right option.

What to verify (before you commit):

You need to work with a Greek real-estate lawyer and a licensed engineer/architect. Make your offer subject to due diligence and insist on documents beforehand.

Zoning & prior use:

Municipal/cadastre extracts showing the previous non-residential use (for conversions) or formal listed status (for heritage).

Full permit history (building permits, change-of-use approvals).

Proof of completion:

Engineer’s completion certificate and as-built plans reflecting residential use.

Energy Performance Certificate issued after the works.

Updated cadastre showing the new residential status.

For listed assets: the relevant heritage approvals and final sign-offs.

Single-property compliance:

The investment is one unit meeting the €250,000 threshold.

If co-buying, each purchaser must meet the €250,000 minimum and be properly recorded on the deed.

Contract language:

Insert explicit clauses acknowledging the ban on short-term rentals and no commercial/registered-office use, plus the consequences for breach.

Ensure any property-management agreement mirrors these restrictions.

Practical readiness:

Utility connections and habitability in place to avoid delays.

Clean title (no liens), correct floor areas, and all technical annexes attached to the notarial deed.

Seller tax clearance included.

Timeline and process (tentatively):

Source a qualifying, completed project → Sign with due-diligence conditions → Close after checks → File the Golden Visa with the full technical/legal pack and schedule biometrics.

Processing varies by region; ~4–12 months is a reasonable planning range.

Residence permit is valid 5 years and renewable while you hold a qualifying property.

Family and long-term path:

You can include spouse/partner, children, and parents of both spouses.

There is no minimum stay to keep the residence permit.

Important - Citizenship remains a separate process that requires real, multi-year residence and language/integration, Golden Visa alone does not shorten that path.

Costs and economics to expect:

Add roughly 7–12% on top of the purchase price for transfer tax, notary, land registry, legal, engineer/tech certifications, translations, and filings.

Because short-term rentals are off the table, model your returns on long-term rents or pure lifestyle use.

Who should pick the €250,000 route:

Investors who want the lowest capital entry and can live with smaller, refurbished units and long-term rental economics.

Buyers comfortable with paperwork-heavy properties where permits and completion proofs are essential to eligibility.

Families seeking Schengen mobility and broad family coverage without a stay requirement.

Who should consider €400k/€800k instead:

Buyers who want a turn-key apartment in prime areas with less document complexity.

Those needing larger homes (≥120 m²) or very specific locations/amenities.

Investors who prioritize liquidity and a larger buyer pool at resale.

Bottom line:

The €250,000 route is a legitimate, lower-capital pathway towards Greek residency, but it’s strictly tied to completed conversions/heritage restorations and comes with use limits (no short-term rentals, no commercial registration). Inventory is limited by design, so success hinges on having a specialized Greek legal/engineering team, verifying every permit and completion document, and aligning expectations with long-term leasing or lifestyle use.
***If you want turn-key, prime-area property or short-term rental income, plan for the €400k/€800k tiers instead.