Greece Golden Visa: €800k Cap in Major Cities — What Changed and Where

Greece's Golden Visa program has undergone significant restructuring since 2023, with a tiered property investment system now fully in effect as of mid-2026. The scheme remains one of Europe's most popular residency-by-investment routes — but the days of EUR 250,000 investments qualifying in prime Athens locations are definitively over.

Current threshold structure

Greece now applies two investment tiers based on the property's municipality:

• EUR 800,000 — applies to properties in the Region of Attica (greater Athens), the Municipality of Thessaloniki, the Municipality of Mykonos, and the Municipality of Santorini, plus all islands with a population above 3,100 in the South Aegean region.
• EUR 400,000 — applies to all other municipalities not covered by the EUR 800,000 tier. This includes most of northern Greece, the Peloponnese, Crete (subject to specific checks), and smaller island municipalities below the population threshold.

The investment must be made in a single property. The previous possibility of combining multiple lower-value properties to reach the threshold has been removed under the 2024 amendments.

Commercial and conversion property exception

One significant provision benefits investors who convert non-residential buildings to residential use: the EUR 250,000 threshold applies to commercial-to-residential conversion projects, regardless of municipality, provided the conversion is complete before the application. This creates an ongoing opportunity for investors willing to manage a renovation project in high-demand Athens or Thessaloniki markets.

Alternative investment routes

Greece's Golden Visa also accepts timeshare investments (minimum EUR 250,000) and shares in Greek real estate investment companies (REICs), though these routes are less commonly used. The EUR 400,000/800,000 direct property route dominates in practice.

Residency and citizenship pathway

The Greek Golden Visa grants a 5-year renewable residency permit with access to the Schengen area. No physical presence is required to maintain or renew the permit — a significant benefit vs. Portugal, which requires 7 days/year minimum. Greek citizenship by naturalisation requires 7 years of legal residence with physical presence. The passport is Henley rank 8 with 184 visa-free destinations.

Market timing note

Athens prime residential prices have risen approximately 14% in 2025 and a further 7% through H1 2026, driven in part by Golden Visa demand. Early data suggests the EUR 800,000 threshold has redirected investor capital toward Thessaloniki (still EUR 800,000 but lower absolute prices) and regions like the Peloponnese and Crete (EUR 400,000 threshold), where yield potential is also stronger.