What Actually Qualifies for the €250,000 Greek Golden Visa in 2026

The €250,000 Greek Golden Visa still exists in 2026, but it no longer buys a finished apartment anywhere in Greece. Since Article 64 of Law 5100/2024 came into force on 5 April 2024, that threshold applies to exactly two things: a property whose use is legally converted from non-residential to residential, and a listed or heritage building being restored or reconstructed. Everything else falls under the €400,000 or €800,000 tiers.

This is the single most misunderstood rule in the Greek investment migration market. It is also the one that costs investors the most money when it is misread — because a conversion bought on the wrong terms does not become a valid application, it becomes a rejected one.

The three tiers, stated plainly

Under Article 100 of Law 5038/2023 as amended by Article 64 of Law 5100/2024:

• €800,000 — Attica (including all of Athens), Thessaloniki, Mykonos, Santorini, and any island with a population over 3,100. Single property, minimum 120 sq.m. of main areas.

• €400,000 — everywhere else in Greece. Single property, minimum 120 sq.m. of main areas.

• €250,000 — change-of-use conversions and listed-building restorations, anywhere in the country. Single property, no minimum surface area.

That last point matters more than most people notice. The 120 sq.m. floor does not apply to the conversion route. A well-located 70 sq.m. former office in central Athens can qualify at €250,000 where a 119 sq.m. finished apartment two streets away cannot qualify at any price under €800,000.

Route one: commercial-to-residential conversion (αλλαγή χρήσης)

To qualify at €250,000 through conversion, the project has to satisfy all of the following.

The original use must be non-residential. Office, retail, industrial, warehouse, professional premises — the urban-planning use registered against the property must not be residential at the point you acquire it.

The change of use must be completed before you submit the residence permit application. Not contracted, not permitted, not in progress. Completed. This is where the majority of failed applications originate: investors buy into a scheme on the promise of conversion and then discover the permit clock cannot start until the works are legally done and registered.

The change of use must date from after 5 April 2024. This is the date Article 64 entered into force. It is certified by the date of the relevant act — a building permit, an approval for small-scale construction works, a file update, or a permit revision. A permit issued before that date can still work if it was subsequently updated or revised on or after 5 April 2024.

It must result in one single residential unit. You cannot buy a former office floor at €250,000, split it into three apartments and count it as one qualifying investment. One title, one residence.

No short-term rental for five years. Airbnb-style letting of the converted property is prohibited for five years. Long-term letting remains permitted, and in practice central Athens conversions have been achieving stable long-term yields in the 4–5% range.

For former industrial buildings, one extra test. A certified engineer must confirm that no industrial activity has taken place on the site in the previous five years. In practice this is evidenced through electricity disconnection certificates, E2 tax forms, or documentation from the tax authority.

Route two: listed and heritage buildings

The second €250,000 route covers buildings that are officially listed (διατηρητέα) or classified as heritage, where the investor commits to restoration or complete reconstruction.

The certification here is comparatively simple. The notary references the building's official listing — the Government Gazette (ΦΕΚ) number under which it was designated — and confirms the listed status is still in force. Restored and extended listed buildings are now explicitly covered.

The obligation that catches people out is on the back end: at the first five-year renewal, you must submit an engineer's technical report confirming the restoration or reconstruction works have been fully completed. The permit is granted on the commitment; it is renewed on the delivery. Investors who treat the restoration as optional discover the problem five years later, which is the worst possible moment to discover it.

What changed in November 2025, and why it matters

For roughly eighteen months after Law 5100/2024, both of these routes existed on paper but were difficult to execute, because the Ministry had not specified what documents proved compliance. Applications sat in backlog.

Joint Ministerial Decision 214926/2025, published in the Government Gazette on 11 November 2025, closed that gap. It set out the supporting documents required for every real estate category and, critically, standardised the certification for conversions into a prescribed Engineer's Technical Report with defined wording.

The practical effect has been significant. Standardised language removed the interpretive variation between migration offices that had been causing rejections and delays. Ministry of Migration and Asylum figures for January–April 2026 show 3,816 permits approved, around 11% ahead of the same period in 2025 — even though new applications over that window ran well below 2025 levels. The backlog is clearing.

Where these deals actually go wrong

From sourcing and coordinating these cases on the ground in Athens, the recurring failure points are consistent.

• Buying the promise instead of the completed conversion. A developer's intention to convert is not a conversion. Until the change of use is registered, the property is a commercial property and the applicable threshold is €400,000 or €800,000.

• A permit dated before 5 April 2024 with no subsequent revision. Common in stock that was already mid-conversion when the law changed. It is fixable, but only if identified before you commit.

• Assuming €250,000 is the total cost. It is the minimum acquisition value. Transfer tax, notary and land registry fees, legal fees, engineer's certification, government application fees and the conversion works themselves sit on top.

• Splitting the title. Attractive on a spreadsheet, fatal to the application.

• Treating a listed-building restoration commitment as a formality. The renewal test is real.

Is the conversion route right for you?

It suits investors who want a central Athens or Thessaloniki address at the lowest qualifying capital and are comfortable with a project timeline rather than a key-in-hand purchase. It suits them considerably less if they need the property producing short-term rental income immediately, or if they need the residence permit on a short deadline.

Where the timeline is the binding constraint, a finished €400,000 property outside the high-demand zones will usually reach a submitted application faster than a €250,000 conversion will.

One further point to weigh before committing. The reduced threshold can be used only once per property — once your permit is granted on a converted home, the next third-country buyer must meet the standard €400,000 or €800,000 threshold for that location. That reshapes who your eventual buyer can be. We set out the full picture in Selling a Greek Golden Visa Property: The Exit Rules.

How HRCM works on these cases

HRCM — Human Resources, Construction & Mediation — is Athens-based and operates as the boots-on-the-ground execution partner for referring firms and their clients. On the €250,000 routes specifically that means sourcing properties where the conversion is already legally complete or where the path to completion is documented and dated correctly, coordinating the engineer's certification, running due diligence on the title and the permit history, and managing the filing through to permit issuance.

We do not take direct client enquiries — all client communication runs through the referring partner firm.

Frequently asked questions

Can I still get a Greek Golden Visa for €250,000 in Athens?

Yes, but only through a qualifying commercial-to-residential conversion or a listed-building restoration. A standard finished apartment in Athens requires €800,000.

Does the 120 sq.m. minimum apply to the €250,000 route?

No. The minimum surface requirement applies to the €400,000 and €800,000 tiers. Conversion properties have no surface area restriction.

Can I rent out a converted property?

Long-term, yes. Short-term rental through platforms such as Airbnb is prohibited for five years.

What if the conversion is not finished when I want to apply?

You cannot submit. The change of use must be legally completed and registered before the residence permit application goes in.

Can I buy two smaller properties totalling €250,000?

No. The investment must be in a single property.

Sources: Law 5038/2023 Art. 100; Law 5100/2024 Art. 64 (ΦΕΚ Α΄ 49/28.03.2024, in force 05.04.2024); Joint Ministerial Decision 214926/2025 (ΦΕΚ Β΄ 6014, 11.11.2025); Ministry of Migration and Asylum permit statistics, January–April 2026. This article is general information, not legal advice.