Greece: the Golden Visa and its new property thresholds
A renewable residence permit for a property investment: from 1 September 2024 the threshold is €800,000 in the most in-demand areas and €400,000 elsewhere; €250,000 survives only for restoration and commercial-to-residential conversions.
- Understanding the new Golden Visa Law No. 5100/2024: Key Points and Implications — Watson Farley & Williams, 2024
- Greece Golden Visa — programme overview — Henley & Partners, 2026
Background
Greece launched its Golden Visa in 2013, at the height of the debt crisis, to draw capital into real estate. For years the €250,000 threshold was one of the lowest in the EU and made the program extremely popular.
Rising prices in Athens and on the islands prompted a reform: Law 5100/2024 raised the thresholds and introduced geographic zones.
Problem
An investor needs a legal EU foothold with residence rights for the whole family and no requirement to live in the country. The Golden Visa answers this through property purchase, but the 2024 reform changed the cost of entry by location.
Solution
Under Law 5100/2024, from 1 September 2024 the property-investment threshold is €800,000 in the most in-demand zones — Attica (the Athens region), the Thessaloniki area, the islands of Mykonos and Santorini, and islands with more than 3,100 residents — and €400,000 everywhere else.
The €250,000 tier survives only for specific cases: restoration of listed buildings and conversion of commercial property into residential. The investment must go into a single property; for a standard residential purchase the dwelling must be at least 120 m², whereas the €250,000 conversion/restoration route has no floor-area restriction. The permit is granted for 5 years and is renewable; historically the program required no minimum stay in the country.
Result
A renewable residence permit for a property investment: from 1 September 2024 the threshold is €800,000 in the most in-demand areas and €400,000 elsewhere; €250,000 survives only for restoration and commercial-to-residential conversions.
Lessons learned
- A low entry threshold is a temporary edge: a program's success itself creates pressure to tighten it.
- Transitional windows matter: the reform let investors lock the old rate with a deposit before a set date.
- A residence permit is not citizenship: the Golden Visa grants the right to live in Greece, not an automatic EU passport.
Frequently asked questions
Do you need to live in Greece to keep the Golden Visa?
Historically the Greek program required no minimum stay to keep the status — that was part of its appeal. The holder must maintain the investment; conditions should be checked at the time of application, as rules change.
Can you still invest at the €250,000 rate?
Only in narrow cases: restoration of listed buildings and conversion of commercial property into residential. For an ordinary home purchase the €400,000 or €800,000 thresholds apply, depending on location.