From €250,000 to €400,000: What’s Changing in the Greek Golden Visa Program?
Change has come to the Greece Golden Visa programme. If you were used to €250,000 being the main benchmark, recent reforms have introduced new brackets, raised thresholds in high-demand areas, and added requirements to ensure that the scheme benefits both investors and local stakeholders. Let’s break down what’s changed — and what that means for you.
Old Standard: €250,000
Up until recently, €250,000 was enough to qualify through most property purchases anywhere in Greece. This made Greece one of the most affordable EU Golden Visa programmes.
The €250,000 minimum is still preserved, but only for special cases: converting commercial property to residential, or restoration of protected / listed buildings.
New Tiered System & Regional Premiums
As of March 2024 (fully in force thereafter), Greece introduced three distinct tiers depending on location.
€800,000 now applies for real estate in high-demand zones: central Athens, Thessaloniki, and certain large/popular islands such as Mykonos and Santorini. These are zones where property demand is high, prices are steep, and the government evidently intends to curb speculative or overheated investment.
€400,000 is now the investment required in other parts of Greece (non-premium or less densely populated zones), for a single residential property of at least 120 m².
The €250,000 minimum is still preserved, but only for special cases: converting commercial property to residential, or restoration of protected / listed buildings.
Why the Changes? Purpose & Impact
To discourage over-concentration of foreign investment in tourist islands and central Athens, which had been driving up property prices and putting pressure on local housing availability.
To encourage investment in neglected zones — or in restoration/conversion of existing built heritage.
To ensure investments are more permanent and beneficial (e.g. restrictions on short-term rentals in certain zones).
What These Changes Mean for Investors
If you target high-demand areas (e.g. central Athens, Santorini, Mykonos), you’ll need to budget significantly more — €800,000 rather than €250,000.
For those who want to stay closer to the lower threshold, the options are (a) invest in less sought-after regions, (b) take on a conversion or restoration project that qualifies under the €250,000 rule.
More due diligence is required: you’ll need to check zoning, whether the property is listed/protected, what conversion/restoration permits and inspections are needed, whether short-term rentals are allowed or restricted.
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Risk & Timing
Transition periods: when the new rules were made public, there were transitional provisions for applications or deposits submitted before certain deadlines. Missing these deadlines could mean getting caught by the stricter rules.
Delays in permitting, in restoration, or in conversion can push you past the application windows or make your investment ineligible for the lower threshold.
Market dynamics: with higher thresholds in premium areas, competition may shift to more affordable regions or to restoration/conversion projects — driving up costs there.
Practical Advice
Engage a local law firm / real estate consultant early to assess whether a property (or building) qualifies under which tier.
If considering €250,000 route, ensure the conversion / restoration is compliant with all Greek requirements, is complete (or will be complete) before submitting the visa application.
Verify whether short-term rentals (like Airbnb) are allowed in the area — restrictions may reduce the attractiveness of some properties for rental income.
Be aware of additional costs: taxes, fees, legal / notary / translation / engineering reports etc.
Conclusion
What was once a flat‐rate entry has become segmented. The Greece Golden Visa programme of 2025 offers more paths, but also more complexity. If you're eyeing premium locations, expect higher cost and more scrutiny. If you’re open to restoration projects or less in-demand regions, there's still opportunity to enter at a much lower bar. Planning, knowing deadlines, and good local support are now more crucial than ever.
