Greece Golden Visa Properties: A Guide for Expat Investors

Greece Golden Visa Properties offers an opportunity for individuals to gain residency in Greece through real estate investment.

The Greece Golden Visa program allows non-EU nationals to obtain a residency permit by investing a minimum of €250,000 in Greek property. This has become one of the most popular ways for investors to secure access to Greece and the wider Schengen Area.

Applicants can invest in residential or commercial properties, either as a single investment or multiple. This flexibility makes the program attractive to various investors.

Along with gaining residency, investing in Greece Golden Visa Properties offers the potential for property value growth and rental income.

Investors can enjoy living in one of Europe’s most desirable countries while benefiting from a growing real estate market that attracts both tourists and long-term residents.

This article will break down the Greece Golden Visa real estate investment option, including eligibility, types of properties, key considerations when buying in Greece, and some of the best cities to invest in.

Here is what we will cover:

• Investing in Real Estate to Obtain a Greece Golden Visa
• 5 Benefits of Buying Property in Greece through the Greek Golden Visa
• Eligible Golden Visa Properties in Greece
• Property Investment Requirements for the Greece Golden Visa
• Buying Houses and Apartments in Greece
• Best Places to Buy Property  in Greece
• Taxes on Greek Golden Visa Properties

Investing in Real Estate to Obtain a Greece Golden Visa

The Greece Golden Visa program allows non-EU citizens to obtain residency in Greece by making a qualifying investment. The most common option is investing in Greek real estate, although other options are available.

The program’s property investment options are divided into four tiers, each with specific requirements based on the type of property and its location. These tiers offer flexibility for investors, allowing them to choose the investment that best suits their goals and budget.

The four tiers include various property types, such as residential, commercial, and mixed-use properties. Depending on the property location and type, the investment amounts range from €250,000 to €800,000.

5 Benefits of Buying Property in Greece through the Greek Golden Visa

Buying a property in Greece comes with numerous benefits, including:

1. EU residency and visa-free travel: Greece Golden Visa grants you and your family residency in Greece as long as you maintain your investment. Moreover, you get visa-free access to the Schengen area.
2. No minimum stay requirement: Once you obtain a Greece Golden Visa, you are not required to live in the country to maintain it.
3. Permanent residency in Greece: You retain all Greek residency perks as long as you maintain your investment. After seven years of residency, you may apply for Greek citizenship.
4. Family inclusion: You can include your family in Greece Golden Visa. According to the Greek government, you may include your spouse, children under the age of 21, and your and your spouse’s parents.
5. Tax incentives: Greece offers great tax incentives for foreign investors, such as low property taxes and income tax exemptions.

Eligible Golden Visa Properties in Greece

The Greek property market offers a diverse range of investment options through the Greece Golden Visa program, providing investors with the flexibility to choose properties that best suit their needs and goals. By purchasing one of the following eligible property types, investors can obtain residency and move to Greece.

1. Residential properties: These are single-family homes, apartments, or multi-family properties, typically requiring a minimum size of 120 square meters in Tier 1 and Tier 2 areas.
2. Commercial properties: Office buildings, retail spaces, or hotels, often located in high-demand areas, within the higher investment tiers.
3. Tourism-related properties: Hotels, resorts, or tourism-focused real estate, commonly requiring larger investments and located in tourist destinations.
4. Historical and cultural properties: Properties of historical or cultural significance that must be fully restored or reconstructed before applying.
5. Properties converted from commercial to residential use: Commercial properties that have been converted into residential properties, with no size or location restrictions, as long as the conversion is completed before applying.

Property Investment Requirements the Greece Golden Visa

As mentioned, the Greece Golden Visa program is divided into four investment tiers, each with specific requirements based on the property’s location and type, which a Greek Golden Visa lawyer can help clarify and navigate

Tier 1 Investment

• Amount: €800,000
• Applicable Areas: This tier is for high-demand regions like Attica (including Athens), Thessaloniki, Mykonos, Santorini, and other islands with populations exceeding 3,100 residents.
• Property Requirement: The investment must be in a single property of at least 120 square meters.

Tier 2 Investment

• Amount: €400,000
• Applicable Areas: This tier focuses on less populated and emerging areas across Greece, encouraging investment in regions outside major cities and tourist hotspots.
• Property Requirement: Like Tier 1, the investment must be in a single property of at least 120 square meters.

Tier 3 Investment:

• Amount: €250,000
• Applicable Areas and Requirements: This tier allows for investment in properties converted from commercial to residential use. There are no specific location requirements, but the conversion must be completed before applying for the Golden Visa.

Tier 4 Investment

• Amount: €250,000
• Applicable Areas and Requirements: This tier is for properties of historical or cultural significance. The investor must fully restore or reconstruct the property before applying for the Golden Visa.

Other Greece Golden Visa Investment Options

Capital contribution options

• €500,000 investment in a Greek company (excluding portfolio and real estate firms) through shares or bonds on regulated markets or multilateral trading platforms.
• €500,000 in a real estate investment company focused on Greece for acquiring shares.
• €500,000 in a closed-end investment company or mutual fund exclusively investing in Greek companies.

Shares, Corporate Bonds, or Government Bonds

• €800,000 in shares or corporate bonds listed or actively traded on regulated markets or multilateral trading platforms in Greece.
• €500,000 in Greek government bonds with a remaining maturity of at least 3 years, through a domestic credit institution.
• €350,000 in a mutual fund investing in Greek shares, corporate bonds, or government bonds, listed or actively traded in Greece.

Buying Houses and Apartments in Greece

Greece is one of the top places in Europe to buy property, offering a Mediterranean lifestyle and access to the Greek Golden Visa. The Greek real estate market attracts both lifestyle buyers and international investors thanks to strong rental yields, steady property value growth, and appealing foreign investment tax incentive programs. Many great options exist, from modern apartments in Athens and Thessaloniki to villas on islands like Crete, Corfu, and Rhodes. Each location has its own unique appeal.

Greece ranks first in the Residency by Investment Global Report by Global Citizen Solutions, highlighting how countries adapt their programs to meet changing global trends. It shows how even smaller nations can boost their international presence through well-designed investment programs.

As João Pacheco, Head of Institutional Client Relations at Global Citizen Solutions, explains, “Greece is one of the best countries to have a Plan B residence, where applicants get the best of both worlds: the option to buy a property in a beautiful country with great weather and lifestyles, while gaining residency in a European country.”

Apartments in Greece

Modern apartments are popular among expats and investors, especially in major cities where convenience, culture, and rental potential come together. In Athens, you’ll find newly renovated apartments in central neighborhoods like Kolonaki, Koukaki, and Glyfada, all offering strong rental yields and proximity to shops, transport, and cultural landmarks like the Acropolis. Many of these properties are fully equipped, furnished, and priced above the €250,000 to qualify for the Greek Golden Visa.

Houses in Greece

If you’re dreaming of Mediterranean-style living, Greece’s islands and coastal towns offer stunning houses with sea views, traditional architecture, and natural access. On Crete, for example, areas like Chania, Heraklion, and Rethymno are known for their charming stone-built houses, luxury villas, and serene seaside settings. These properties are especially appealing for long-term living or holiday rentals and can be a smart investment in Greece’s growing real estate market.

6 Best Places to Buy Property in Greece

1. Athens

Athens is Greece’s capital and a major economic and cultural hub, with a steady influx of both domestic and international buyers. Its real estate market has seen significant growth, particularly in central areas like Plaka, Kolonaki, and Kifisia, driven by demand for short-term rentals and residential properties.

2. Thessaloniki

As Greece’s second-largest city, Thessaloniki is an up-and-coming market with strong potential for growth. Its youthful population, universities, and expanding tech scene contribute to increasing demand for both residential and commercial properties.

3. Mykonos

Mykonos is one of Greece’s most famous islands, drawing high-end tourists and seasonal renters. The luxury real estate market on the island is booming, making it an ideal location for Greece Golden Visa investors who are interested in for high-value properties.

4. Santorini

Famous for its stunning views and luxury tourism market, Santorini attracts wealthy visitors year-round. Real estate in prime locations offers excellent returns on investment, particularly in the luxury vacation rental market.

5. Crete

As Greece’s largest island, Crete offers a mix of growing tourist areas like Chania and Rethymno and quieter, less developed regions which are perfect for long-term investments. The island’s growing popularity and lower property prices make it a top choice for Golden Visa investors.

6. Rhodes

Rhodes is one of the most popular tourist destinations in Greece, attracting both holidaymakers and expats. The island is seeing a steady increase in foreign interest in its real estate market, making it a promising location for investors.

Taxes on Greek Golden Visa Properties

There are specific Greek property taxes investors are liable to pay when purchasing and owning property in Greece. The primary Greek taxes include:

• Property Transfer Tax: When purchasing property, there is a 3.9% property transfer tax based on the purchase price or the tax value, whichever is higher.
• VAT (Value Added Tax): If you’re buying a newly built property, you may be subject to a 24% VAT. This typically applies to new properties purchased directly from the developer.
• Annual Property Tax: Property owners in Greece must pay an annual property tax (ENFIA), which is calculated based on the property’s value and location. The tax rate can vary, but it generally ranges from 0.1% to 1.1% of the property’s value.
• Capital Gains Tax: If you sell the property in the future, you may be subject to capital gains tax, which is 15% on the profit made from the sale.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments. 

We guide you from start to finish, taking you beyond your citizenship or residency by investment application. 

Frequently Asked Questions about Properties for the Greece Golden Visa

What is the Greek Golden Visa?

The Greek Golden Visa is a residency-by-investment program that allows non-EU citizens to obtain residency in Greece by investing a minimum of €250,000 in Greek real estate. This program offers a fast and straightforward path to residency, along with the added benefit of visa-free travel within the Schengen Area. It’s a popular option for those seeking a second residence in Europe.

What are the benefits of buying Greece Golden Visa properties?

The benefits of buying Greece Golden Visa properties are:

• EU residency and travel
• No minimum stay requierment
• Permanent residency as long as you maintain your investment
• You can include your family
• Low property taxes

Can I get permanent residency if I buy property anywhere in Greece?

Yes, you can obtain residency through the Greece Golden Visa by buying property anywhere in Greece, as long as the property investment meets the minimum requirement of €250,000. This grants you a residency permit, which is valid for five years and can be renewed, leading to the potential for permanent residency after a number of years.

Can you get a mortgage for a Golden Visa in Greece?

Yes, it is possible to get a mortgage for a Golden Visa property in Greece, though it typically requires a larger down payment compared to domestic buyers. Greek banks may offer loans to foreign investors, but the loan-to-value ratio is usually lower, often around 50-60%. Investors must meet specific criteria, and the terms may vary depending on the bank and the investor’s financial profile.

Can an investor buy commercial property to obtain a Golden Visa in Greece?

Yes, an investor can buy commercial property to obtain a Golden Visa in Greece, as long as the property meets the minimum investment requirement of €250,000. Both residential and commercial properties are eligible for the program, offering flexibility for investors to choose the type of property that best suits their goals.

What are the stay requirements for the Greek Golden Visa?

The Greek Golden Visa program does not have strict stay requirements. To maintain the residency permit, holders must visit Greece at least once every five years. There is no minimum number of days required to stay in Greece annually, making it a flexible option for investors and their families.

Are there any specific locations in Greece where the investment must be made?

Under the new four-tier system of the Greece Golden Visa, the minimum investment is €800,000 for properties in popular areas like Athens and certain islands. For other areas in Greece, the minimum investment is €250,000. The system sets different investment amounts and requirements depending on the location.

Where can I find Greece Golden Visa properties for sale?

You can find Greece Golden Visa properties for sale through the following means:

• Real estate websites
• Golden Visa agencies
• Local real estate agents
• Government-endorsed listings and consultants

Can I sell my Greece Golden Visa property and retain my residency?

No, you can’t sell your Greece Golden Visa property and retain your residency. Your Greek residency depends on the property, and if you sell it, you lose the residency perks.