The Greek Golden Visa programme was reformed by Law 5162/2024, effective for new applications from September 2024. For buyers targeting Athens, here is what the current framework actually says — and what to verify before committing.
The three investment routes
- €800,000 — residential real estate in the densely built-up zones: Attica (which includes all of Athens), Thessaloniki, Mykonos, Santorini, Syros, and islands with more than 3,100 residents.
- €400,000 — residential real estate in all other areas of Greece, including smaller islands.
- €250,000 — the conversion route: turning a commercial property (for example former offices) into a residential use, or the restoration of listed/protected buildings, anywhere in Greece.
Since the reform, qualifying purchases in the higher threshold zones must be residential, and the property must be a single one of at least 120 m². Golden Visa properties in these zones can no longer be offered for short-term rental (e.g. Airbnb-type lets); violations are sanctioned by a €50,000 fine and revocation of the permit.
The 120 m² and rental restrictions matter for Athens
Most of our buyer mandates in Athens fall under the €800,000 band — Metaxourgeio lofts, Kolonaki apartments, Glyfada villas. The €250,000 conversion route remains genuinely interesting here: Athens has a large stock of 1970s office buildings that can be converted, which is why the reform kept this door open.
What the permit gives you — and what it does not
The residence permit is valid five years, renewable as long as the investment is held. It grants visa-free movement across the Schengen Area, and includes the spouse, children under 21, and the parents of the main applicant. It does not grant citizenship by itself: naturalisation requires seven consecutive years of tax residency (minimum 183 days per year), a Greek language and culture examination, and, for males 18–45, completion of (or exemption from) military service.
Due diligence checklist before you sign
- Confirm the property zone and the applicable threshold with your lawyer — the band follows the location of the asset, not the buyer.
- Obtain a notarial certificate confirming the property has not already been used for a Golden Visa application.
- Request a certificate of encumbrances from the Hellenic Cadastre or local land registry.
- Budget the taxes: the buyer pays the real estate transfer tax (3% of the taxable value, plus a 3% municipal levy on the main tax — see our article on buying costs).
Programme framework: Law 4251/2014 (art. 20B), as amended by Law 5162/2024. Sources: Hellenic Ministry of Migration & Asylum (migration.gov.gr); AADE property-tax guides. This article is general information, not legal advice
Figures and legal thresholds on this page reflect Greek law and published rates (Law 4251/2014 as amended by Law 5162/2024; AADE property-tax rules) as at September 2026. They may change — verify current terms with your lawyer or the competent authority (Ministry of Migration & Asylum, AADE) before making any commitment.
— thresholds and rules change; verify current terms with your lawyer before any commitment.
