For a buyer, the important changes are the €800,000 and €400,000 geographic thresholds, two limited €250,000 exceptions, a prohibition on short-term rental and a large processing backlog. This article explains each from the current rules and official statistics.
Everything here was verified against primary Greek sources on August 14, 2026. Euro figures carry rounded dollar equivalents at about US$1.15 per euro, the ECB reference rate in August 2026.
How far are applications actually falling, and since when?
Applications peaked in 2024, fell 25.1% in 2025 and then declined more sharply in early 2026. The Ministry of Migration and Asylum statistics show the timing:
| Year filed | Total investor-permit requests |
|---|---|
| 2022 | 4,346 |
| 2023 | 8,461 |
| 2024 | 9,384 (the peak) |
| 2025 | 7,029 (down 25.1%) |
| 2026, Q1 only | 1,236 |
The 2024 peak reflects transitional rules. Buyers with a deposit or signed pre-agreement by August 31, 2024 could still complete under the previous thresholds, bringing applications forward before the deadline.
The decline begins in 2025 and becomes steeper once the higher thresholds apply more broadly. Bank of Greece data for January to April 2026 shows the 52.2% year-over-year reduction.
Issued-permit figures should be read separately from applications because processing delays cause them to lag. For a prospective buyer, the current qualification rules and likely processing time matter more than the headline decline by itself.
What are the current Golden Visa property thresholds?
The standard property threshold is €800,000 in the highest-demand areas and larger islands, and €400,000 elsewhere. Two specific categories remain available at €250,000. The figures below come from the codified text of Law 5100/2024, which rewrote Article 100 of the Migration Code.
| Zone | Minimum investment | Where |
|---|---|---|
| Zone A | €800,000 (about US$920,000) | All of Attica; the Thessaloniki regional unit; Mykonos; Santorini; and any Greek island with a census population above 3,100 |
| Zone B | €400,000 (about US$460,000) | Everywhere else |
| Conversion exception | €250,000 (about US$290,000) | A property converted to residential use, or an industrial building unused as such for 5+ years |
| Restoration exception | €250,000 (about US$290,000) | A listed/heritage building bought for restoration or reconstruction |
The €800,000 tier reaches beyond Athens, Thessaloniki, Mykonos and Santorini. It also includes every island with more than 3,100 residents, placing Crete, Rhodes, Corfu and a number of smaller islands in the highest tier.
Before assuming that an island falls within the €400,000 tier, check its latest census population and have a lawyer confirm the classification. There is no reliable official consolidated list covering every island.
The conditions that ride along in both zones:
- The investment must be concentrated in a single property.
- A built property (or one with an issued permit) needs at least 120 m² of main living space.
- In a co-ownership purchase, each co-owner’s share must independently clear the threshold, unless the co-owners are spouses or civil partners, whose combined share may qualify.
- Payment must run through traceable banking channels into the seller’s Greek account, a rule the statute applies retroactively to payments made since January 1, 2017.
The permit lasts five years and can be renewed while the qualifying property remains held. It does not confer a right to work in Greece.
When can a property qualify at €250,000?
The €250,000 threshold applies to qualifying residential conversions and listed buildings bought for restoration, with additional completion and use conditions.
The conversion route requires the change of use to residential to be complete before the residence application is filed (the seller may complete it), and the property cannot later serve as a business seat or branch.
The restoration route voids any transfer of the property made before full restoration is finished, ties the permit’s first renewal to actually completing the works, and prices breaches at €150,000 (about US$170,000) in administrative fines.
These are regulated exceptions rather than general lower-cost routes. A November 2025 ministerial decision tightened the supporting documents required to prove a qualifying conversion or restoration. Include the compliance work and professional costs in the purchase budget.
Can a Golden Visa property be rented out?
Yes, it can be leased long term, but short-term sharing-economy rental and subletting are prohibited. A breach can lead to permit revocation and a €50,000 fine, about US$58,000.
An Airbnb model is therefore incompatible with the program and may also be affected by Athens’ separate district-level registration freezes, covered in Greece property market 2026. Ordinary long-term leasing remains available.
Rental projections should use long-term income and include the restrictions directly in the legal review.
How long is the Golden Visa processing queue?
Although the statute provides for a decision within two months of a complete application, official figures show a queue that has left some applicants waiting years. The Ministry’s March 2026 tables list 35,669 Golden-Visa-related files pending, including investor applications from 2022 that were still undecided four years later. About three quarters of pending investor files were held in Attica offices.
The government’s data therefore does not support assuming a two-month practical timeline. In March 2026, 30,439 investor permits were in force; Chinese nationals held 48.4% of initial grants and Turkish nationals 16.6%.
Existing permit holders are not affected by the new thresholds, which apply to new applications. The statute also provides that a qualifying resale during the permit’s validity can confer a residence-permit right on another non-EU purchaser while revoking the seller’s permit. Counsel should confirm how the rule applies to a specific exit plan.
What should a property buyer actually do now?
Begin by deciding whether residence rights are genuinely part of the purchase objective.
The program is irrelevant to EU citizens and may add unnecessary restrictions for lifestyle buyers with no residence objective. Buyers already considering property above €800,000 may qualify incidentally. For those groups, buying property in Greece is the more relevant guide.
If residence is the goal, compare the property route with the program’s non-property alternatives. The Migration Code also allows some mutual funds or Greek-focused alternative investment funds from €350,000 (about US$400,000), government bonds or a fixed-term Greek bank deposit at €500,000 (about US$575,000), and listed shares and bonds at €800,000. Each route has its own conditions and may suit someone who does not want to own and manage property.
And if you conclude the property route fits:
- Verify the zone, island populations included, from the statute rather than a brochure.
- Budget for the real timeline the backlog implies, and structure your plans so nothing critical depends on the two-month promise.
- Assemble documents against the current November 2025 requirements rather than an older checklist.
- Keep every payment traceable.
- Estimate rental income using long-term rents only, because short-term rental is prohibited for a Golden Visa property.
Apply the same property due diligence and price discipline that you would use without a residence permit. Qualification for the program does not make an individual property a sound purchase.
Our Greece destination guide covers the regions and developments from builders that have passed our review. Buyers comparing programs should note that Portugal removed real estate from its Golden Visa routes; Portugal Golden Visa investment funds explains the remaining fund route. DSH is an education and referral platform, not an immigration adviser. Applicants should have a licensed Greek immigration lawyer review the current rules against their own file.
Disclaimer
Dream Second Home is not an immigration adviser, law firm, or tax advisory, and this article is not immigration, legal, or tax advice. This is also the fastest-aging article on this site: the Ministry updates its statistics monthly and the legal framework has changed repeatedly since 2022. Figures and rules were verified against the cited primary sources on August 14, 2026; confirm the current state with a licensed Greek immigration lawyer before acting on any of it.
