The Greece Golden Visa €250,000 route remains available for specific property categories. It is not a general price threshold for any apartment on the market. The property's legal use, protected status and supporting documents determine whether the lower threshold can apply.
Two routes deserve separate attention: converting qualifying non-residential space into a home, and acquiring a listed building requiring restoration or reconstruction. They involve different project milestones, so the right purchase depends on more than the advertised price.
Which properties can qualify at €250,000?
The Greek government's housing policy portal identifies both special categories and states that they apply across Greece. Location alone therefore does not establish eligibility: the individual property must meet the relevant conditions.
| Property route | Minimum acquisition value | Main distinction |
|---|---|---|
| Ordinary purchase in higher-threshold areas | €800,000 | Includes Attica, the Thessaloniki regional unit, Mykonos, Thira and islands with more than 3,100 residents |
| Ordinary purchase elsewhere | €400,000 | Different geographical threshold; other property conditions still apply |
| Qualifying change to residential use | €250,000 | A genuine legal change of use, completed before the residence application |
| Listed building requiring restoration or reconstruction | €250,000 | Protected status and continuing restoration obligations |
The ordinary purchase routes generally require one property and, for built property or property with a building permit, at least 120 square metres of main space. The Ministry's September 2024 implementation circular confirms that the 120-square-metre requirement does not apply to the two special €250,000 categories. Both still concern a single qualifying property.
Property conversion is different from renovation
Under Article 64 of Law 5100/2024, the conversion route concerns property whose main spaces change to residential use. Installing a new kitchen, repainting an existing apartment or replacing windows does not, by itself, establish that legal change.
The change may be carried out by the buyer or seller. Where industrial premises are involved, the law also requires that no industry has been installed and operating there for at least the preceding five years.
Ask an independent engineer to compare the building's authorised use with the proposed residential use. A furnished showroom and an attractive floor plan cannot replace that assessment. Our Greece residency by investment page explains the programme context before you assess an individual opportunity.
When must the change of use be completed?
Conversion must be completed before the Golden Visa application. A purchase contract promising future residential conversion is not the same as evidence that the required milestone has been reached.
Joint Ministerial Decision 214926/2025, published on 11 November 2025, specifies an engineer's technical report and the relevant building permission, approval, file update or revision. Its certification framework links the change to the rules taking effect on 5 April 2024 and addresses older permissions updated or revised afterwards.
Have the engineer and immigration lawyer review the property's actual records together. Agree who provides the final report, who pays for unresolved work and what happens if the expected documents cannot be produced. Keep those responsibilities clear before releasing a deposit.
Listed buildings have a different restoration timetable
A building's age or traditional appearance does not establish listed status. Obtain the formal designation and confirm that the proposed purchase falls within the protected-building category. The 2025 decision requires the notary's certification to identify the relevant Government Gazette designation.
The 2024 ministry circular explains that full restoration or reconstruction is required for the first renewal under this route. It also warns that transferring the property before full restoration or reconstruction is completed is invalid.
This is a different sequence from conversion, which must be completed before the initial residence application. Commission a realistic works programme: protected features, specialist contractors and permissions can affect both cost and delivery. A low acquisition price may leave a substantial restoration commitment.
What should you check before paying a deposit?
Request a property-specific evidence pack, rather than a brochure stating “Golden Visa eligible”. Useful checks include:
- The title, ownership structure and any mortgages or other encumbrances.
- The legal category relied on, with the engineer's supporting analysis.
- Building permissions and the documents needed to demonstrate conversion or protected status.
- The agreed purchase price, payment trail and notarial certification.
- The seller's previous Golden Visa use of the property and its relevance to the proposed transaction.
The 2025 decision includes notarial, registration and technical evidence among the application documents. Have your advisers identify any missing items and contractual protections before money becomes non-refundable. Ask for written reasons why this particular property qualifies.
Does €250,000 cover the entire project?
The acquisition threshold is not the total project budget. Do not assume that buying below €250,000 and adding a renovation invoice makes up the required purchase value. Have the notary and lawyer confirm the qualifying consideration recorded in the transaction.
Build a separate budget for applicable purchase taxes, legal and notarial work, registration, engineering, permissions, construction, insurance and residence application costs. Include ongoing property charges and renewal preparation.
For a conversion or restoration project, obtain a priced scope of works and identify exclusions. Compare the seller's delivery promises with independent estimates, then allow for contingencies and delays. Any rental forecast should distinguish gross receipts from management, maintenance, vacancy and tax costs.
Rental use and resale need advance planning
The 2024 framework prohibits short-term letting and subletting within the sharing economy for relevant investor properties. It also prevents property acquired under the conversion category from being used as a business headquarters or branch. Check the intended use before relying on an Airbnb-style income forecast or company-address arrangement.
Ownership and the applicable continuing conditions matter at renewal. For listed buildings, the restriction on transfer before completed restoration deserves particular attention when planning an exit. Agree the evidence you will retain throughout ownership, rather than rebuilding the file when renewal approaches.
How to choose between conversion and restoration
Start with the legal evidence, then assess the investment. Conversion requires confidence in the completed change of use before applying. A listed building requires confidence in protected status, the works budget and the restoration timetable.
Compare realistic total costs, the intended use and your ability to manage the project from abroad. Capitals28 can help place the Greek option within your wider residency planning and coordinate the questions for independent legal and technical review before you commit.
