Greece’s Golden Visa scheme has entered a new phase following the introduction of tiered property investment thresholds with analysis from international property consultancy Astons highlighting where investors are most likely to secure qualifying assets.
The residency-by-investment programme, which grants a five-year renewable residence permit to non-EU nationals and their families, now requires a minimum €800,000 spend in “mature” markets such as central Athens, Thessaloniki, Mykonos and Santorini. In all other areas, the threshold is €400,000 for residential property.
Astons’ analysis shows that across Greece just 12.1% of properties currently on the market are priced above €800,000.
Mykonos is the most accessible location at this level, with nearly three quarters of listings meeting the threshold. Santorini follows at 31.1%, ahead of Corfu (25.2%), Athens (17.4%) and Kefalonia (16.8%). By contrast, only 2.7% of homes in Thessaloniki qualify.
MARKET LEADING
Among regions governed by the €400,000 threshold, Kalamata in the Peloponnese leads the market, with 25.8% of listings above the cut-off, followed by Ioannina (10.9%), Patras (5.6%) and Larissa (4.1%).
A lower-cost pathway remains open for investors willing to buy commercial real estate for conversion to residential use, where the minimum outlay is €250,000 regardless of location.
More than half of Greece’s 48,857 commercial listings are above this level, creating scope for value-add projects in both mainland cities and high-demand islands.
FRESH OPPORTUNITIES
Suzanna Uzakova (main picture, inset), Senior Consultant for Residency and Citizenship Programmes at Astons, says: “The revisions to Greece’s Golden Visa have added complexity but also fresh opportunities.
“For investors with larger budgets, islands such as Mykonos remain highly accessible, but there are still viable routes at much lower entry points. Commercial-to-residential conversion at €250,000 is increasingly attractive, offering access to prime locations at a fraction of the cost.
“In today’s market, success depends on understanding the nuances of the rules. With the right strategy, investors can combine lifestyle benefits with long-term value in one of Europe’s most compelling residency programmes.”
