Greece Golden Visa Minimum Doubles to EUR 800,000 in Prime Areas

The EUR 250,000 golden visa that made Greece famous is gone. New regional pricing creates a two-tier system.

Greece implemented its revised golden visa thresholds in late 2024, and by 2026 the market has adjusted to the new reality. The uniform EUR 250,000 minimum that attracted investors from China, Russia, and the Middle East for a decade has been replaced by a tiered system that effectively doubles costs for anyone wanting to buy in areas people actually want to live.

The new thresholds

The Enterprise Greece investment portal now shows two tiers:

EUR 800,000 minimum: Athens (all of Attica), Thessaloniki, Mykonos, Santorini, and other high-demand areas. This applies to the municipality, not just the city center.

EUR 400,000 minimum: Everywhere else. Northern Greece, the Peloponnese, most of the mainland, and less-touristed islands.

The price jump is substantial. At EUR 250,000, Greece competed with countries like Latvia and Montenegro. At EUR 800,000, it sits above Portugal's fund investment (EUR 500,000) and near Spain's real estate threshold (EUR 500,000) but with the added requirement of buying in specific locations.

Why it still matters

The Greek golden visa remains attractive for several reasons, even at higher thresholds.

Schengen access is immediate. Residence permit holders can travel visa-free throughout the 27 Schengen countries for up to 90 days in any 180-day period. For Chinese or Middle Eastern investors, that's substantial value.

No residence requirement. Unlike Portugal (which requires 7-14 days annually), Greece requires zero physical presence to maintain the permit. You can buy the property, visit once to complete paperwork, and never return.

Family inclusion is broad. Spouse, children under 21, and parents of both the investor and spouse can be included on one application. That's wider than most programs.

Citizenship path exists, though it's not straightforward. Seven years of actual residence (not just permit holding) with Greek language proficiency can lead to naturalization. Few golden visa holders pursue it.

The rental market reality

Many golden visa investors never intended to live in their Greek properties. The business model was: buy an apartment, rent it on Airbnb, collect yield while holding an EU residence permit. The math worked at EUR 250,000 in central Athens.

At EUR 800,000, the calculation is different. Athens yields aren't keeping pace with the higher entry point. Investors are either moving to the EUR 400,000 regions (where yields are lower and rental demand weaker) or rethinking the investment entirely.

Some are looking at the EUR 400,000 tier as a pure residence play: buy something in Thessaloniki or a smaller city, accept lower rental income, maintain the permit for Schengen access. Whether that makes sense depends entirely on what the investor actually wants.

Processing and practicalities

Application processing through the Ministry of Migration runs approximately 2-4 months for complete applications. The permit is initially issued for 5 years, renewable indefinitely as long as the property investment is maintained.

Property purchase itself adds time. Due diligence, legal checks on title, and the notarization process typically take 1-3 months from agreement to completion. Factor in both timelines when planning.

Legal and government fees add roughly 10-12% to the property purchase price: property transfer tax (3.09%), legal fees (1-2%), notary fees, and various stamps and registrations.

Who this works for now

The EUR 800,000 threshold filters the market. At that level, the golden visa appeals to investors who either genuinely want Athens real estate at current prices, or who value Schengen access highly enough to pay the premium.

For those primarily seeking low-cost EU access, other options may work better. Portugal requires funds investment rather than property. Spain's threshold is lower. Non-EU alternatives like the UAE offer residency at similar investment levels without Schengen but with zero income tax.

Greece remains a legitimate option. It's just no longer the cheap option.