Is the Greek Golden Visa still €250,000 for property?
Greece raised its Golden Visa property threshold from €250k to €800k in Attica (Athens), Thessaloniki + high-tier islands (Mykonos, Santorini) from August 2024. Lower-tier regions remain at €250-400k.
The truth
Greece's Golden Visa Program (introduced 2013) operates on a tiered system since the August 2024 reform under Law 5100/2024: (1) Tier 1 (€800,000+) — Attica (Athens + surrounding region), Thessaloniki, Mykonos, Santorini, and islands with 3,100+ population; (2) Tier 2 (€400,000+) — all other Greek municipalities not in Tier 1; (3) Tier 3 (€250,000+) — special preserved tier for property conversions from commercial to residential use + restoration of listed historical buildings (the lowest entry into the program). Plus standard requirements: minimum 80m² apartment OR single property purchase, single property (no aggregation of multiple smaller units), no minimum residence requirement, no Greek language test. Initial 5-year residence permit, renewable indefinitely, leads to Permanent Residence after 5 years + Greek citizenship after 7 years (Greek citizenship requires Greek language B1 + integration test + clean criminal record). Family included: spouse + minor children + dependent parents of both spouses (uniquely generous — Greece is the only EU Golden Visa to include parents of both spouses). Application via the Greek consulate in country of residence + Decentralised Administration office in Greece. Processing 4-6 months typically.
Why this rumour persists
Property marketing in Greece + agency websites continued to advertise €250k after the August 2024 reform took effect. Plus the tiered system creates confusion — the lower tiers do exist, but only for restoration / preservation purchases.
What to actually do
- Confirm which tier applies to your target location BEFORE committing — Attica + Thessaloniki + high-tier islands are €800k
- Tier 3 (€250k) requires commercial-to-residential conversion or historical-building restoration — verify property eligibility
- Single property purchase only — cannot aggregate multiple smaller units to reach the threshold
- Engage a Greek lawyer for due diligence on the property + tax compliance
- Family members (spouse, minor children, dependent parents of both spouses) included — uniquely generous
- Greek citizenship at 7 years requires B1 Greek + integration test — NOT automatic from residence