How the Greece Golden Visa Works
Greece’s Golden Visa programme is one of the most attractive residency by investment schemes in Europe. Since its launch in 2013, Greece’s Golden Visa programme has provided a pathway to long-term residency through qualifying economic investments.
While multiple options exist — including securities and bank deposits — real estate purchases remain the most sought-after choice among applicants. With a minimum real estate acquisition of €250,000, foreign buyers can obtain a 5 year renewable residence permit, along with visa-free travel across the Schengen Zone.
Property Requirements for Golden Visa
Investors enjoy flexible options, being able to purchase either residential or commercial greek golden visa properties across both primary and secondary markets.
Option 1: Special Category Properties (€250,000+)
Perfect for investors seeking value-add opportunities or preserving Greece’s cultural heritage.
Flexible Location & Size —Properties can be anywhere in Greece, with no size restrictions (though most opportunities are found in Attica, particularly Athens).
Conversion Requirements — Commercial-to-residential projects must be completed before Golden Visa application.
Historic Renovations — Listed buildings must be fully restored within 5 years to qualify.
EXCLUSIVE ASTONS OPPORTUNITY
Secure Greek Residency
Within 6 Months from €250,000
Investors and spouses are allowed to include
their parents in the application
Option 2: Standard Regions (€400,000+)
Great for investors who want luxury vacation rentals or property value growth in Greece’s top locations.
Minimum Size — Properties must meet or exceed 120 sq.m. to qualify.
Location options — Available throughout other Greek regions. Includes coastal gems like Halkidiki and historic regions like the Peloponnese.
Option 3: Premium Locations (€800,000+)
Perfect for high-net-worth investors seeking prestige properties in Greece’s most desirable areas.
Minimum Size — All properties must be 120+ sq.m.
Luxury Locations — Attica, Thessaloniki, Mykonos, Santorini, and islands with populations of more than 3,100 residents
Additional Cost Considerations
| Fee/tax |
Cost |
| Property transfer tax |
3.09% of the property price |
| Registration fee in the land registry |
0.6% of the property price |
| Notary fee for property transfer |
About 1.5% of the property price+VAT |
| Private health insurance |
From €150 per person |
| Document translations |
From €150 |
| Immigration fees |
€2,000 for the main investor
€150 for a family member over 18 years old |
| Residency сard |
€16 per person |
Note: All investment amounts reflect base property prices excluding additional mandatory costs. Investors should budget approximately 5-7% above purchase price for complete transaction costs.
Benefits of Greece Golden Visa
- Residency for the whole family (spouse, children under 21, and parents)
- Visa-free travel within the Schengen Area (28 countries)
- Pathway to Greek citizenship after 7 years of residency
- No physical stay requirement (unlike other EU residency programmes)
- Favorable tax regime for foreign investors
Key Factors to Consider When Buying Property in Greece
Location and Accessibility: Choosing the Right Spot for Your Greek Property
The right area can maximize rental income, ensure long-term appreciation, and enhance your lifestyle. Here’s what to consider.
Tourist Hotspots vs. Quiet Areas — Coastal and island properties (e.g., Mykonos, Santorini, Crete) offer high rental yields but are seasonal. Mainland cities (Athens, Thessaloniki) provide year-round demand.
Proximity to Airports & Ferries — Critical for rental income and personal convenience.
Airports & Ferries:
- Islands like Corfu, Rhodes, and Kos have international airports, making them easier to access.
- Lesser-known islands (e.g., Milos, Serifos) require ferry connections — charming but less convenient for frequent travel.
Road Infrastructure:
- Coastal areas along the Athens Riviera or Halkidiki offer easy drives from major cities.
- Remote mountain villages (e.g., Pelion, Zagori) provide serenity but may lack services.
Local Infrastructure:
Check for hospitals, schools, supermarkets, and public transport if planning long-term stays.
- For Families: Look for areas with schools, medical facilities, and kid-friendly beaches (e.g., Glyfada in Athens, Chania in Crete).
- For Authentic Greek Life: Consider lesser-known islands (Sifnos, Tinos) or mainland towns (Nafplio, Kalamata).
- For Nightlife & Luxury: Mykonos, Santorini, and Psiri (Athens) cater to high-end buyers.
Balance your priorities — rental income, accessibility, and lifestyle — to pick the perfect location. Visiting before buying is ideal, but if not, work with a local expert who knows the nuances of each region.
Legal Considerations for Foreign Investors in Greek Real Estate
Purchasing property in Greece as a foreigner comes with specific legal requirements and potential pitfalls. To ensure a smooth transaction and protect your investment, keep these key considerations in mind.
Property Ownership Rights
- Non-EU investors must obtain a Greek tax number (AFM) and may need additional permits for certain areas (e.g., near borders).
- Land Zoning Laws: Verify if the property is in a residential, commercial, or protected zone (e.g., archaeological sites restrict renovations).
Due Diligence & Title Checks
Confirm Clean Ownership:
- Ensure no mortgages, liens, or legal disputes are attached to the property.
- Check the National Land Registry (Hypothykí) for official records.
Verify Permits & Licenses:
- For renovated properties, confirm the developer secured all necessary building permits.
- New constructions require a “Dimitourgikí Kataskeví” (building certificate).
Golden Visa Compliance
Minimum Investment Rules:
- €250,000+ (standard) or €800,000+ in high-demand areas (Athens center, Mykonos, Santorini).
- Must maintain ownership for at least 5 years to retain residency.
Joint Ownership & Financing:
- Banks may require higher deposits (30–50%) for non-EU buyers.
- Mortgages do not count toward the Golden Visa threshold.
Why Invest in Property in Greece?
Greece has become a magnet for savvy investors, offering an unbeatable mix of affordable real estate, strong returns, and golden visa benefits — all wrapped in Mediterranean sunshine.
Golden Visa Advantage
- €250,000 minimum investment
- EU residency for family with no minimum stay requirement
Proven Rental Yields — 5-15% returns from:
- Athens apartments
- Mykonos luxury villas
- Emerging island properties
Lifestyle Perks
- 300+ annual sunny days
- World-class beaches
- Cost of living 30% lower than Western Europe
Market Situation
- Athens prices +50% since 2018
- Islands like Paros offer growth before reaching Santorini-level prices
Investor-Friendly System
- Tax incentives for foreign buyers
- Straightforward property laws
- No hidden purchase hurdles
Athens & Thessaloniki: Greece's Dynamic Property Duo
Greece’s 2 biggest cities — Athens and Thessaloniki — offer investors the perfect blend of urban energy, strong rental demand, and Golden Visa appeal. While Athens boasts tourism-driven returns and a thriving expat scene, Thessaloniki delivers affordable entry prices and untapped potential in Greece’s rising northern hub.
Together, they’re perfect for investors who want property value increases, steady rentals, or EU residency.
Athens: Where Ancient Heritage Meets Modern Investment Opportunity
Steeped in history as the cradle of Western civilization, Athens has transformed into one of Europe’s most dynamic real estate markets. Beyond its iconic Acropolis and neoclassical charm, the Greek capital has emerged as a prime destination for property investors, offering an exceptional blend of cultural richness and strong financial returns.
The city’s real estate market has shown remarkable resilience, with property values increasing by 8-12% annually since 2020. This growth stems from multiple factors: a thriving tourism sector, an expanding expat community, and the continued popularity of Greece’s Golden Visa programme.
Neighborhood Spotlight: Where to Invest
From Kolonaki’s luxury apartments to Koukaki’s renovated neoclassical homes, Golden Visa Greece real estate in Athens caters to every investor profile — with yields up to 7%.
- Kolonaki: The city’s most prestigious address commands premium prices (€5,000 — €7,000/m²) but delivers steady luxury rentals and capital appreciation.
- Plaka & Koukaki: The historic heart of Athens offers charming renovated properties with 6-9% rental yields, popular with cultural tourists seeking authentic experiences.
- Northern Suburbs (Kifisia, Maroussi): Family-friendly areas with international schools and spacious villas, seeing 10%+ price growth as remote workers relocate.
- Glyfada & Southern Coast: Coastal living just 30 minutes from downtown, with new marina developments boosting values.
Thessaloniki: Greece’s Northern Renaissance
With its Byzantine towers standing over a bustling modern metropolis, Thessaloniki has emerged as one of the Mediterranean’s most compelling investment destinations. As Greece’s vibrant “co-capital,” this historic port city blends old-world charm with new economic energy, creating great opportunities for property buyers.
A City Reborn: Culture Meets Commerce
Thessaloniki’s strategic position as the gateway between Europe and the Balkans has fueled its transformation into a regional economic hub.
The city’s benefits
- University ecosystem (hosting 12% of Greece’s student population)
- Thriving startup scene (300+ tech companies established since 2022)
- Expanding port facilities (now handling 60% of Balkan trade)
- The long-awaited metro system (promises to reshape urban mobility and drive further growth).
Thessaloniki’s 2023-2024 real estate market conditions
| Area |
Price/m² (€) |
Investor Profile |
| City Center |
2,500-3,200 |
Short-term rentals, commercial investors |
| Kalamaria |
1,900-2,600 |
Families, long-term rentals |
| Ano Poli |
1,500-2,200 |
Renovation opportunities, boutique hotels |
| Toumpa |
1,300-1,800 |
Student housing specialists |
| Suburbs |
1,000-1,500 |
Value investors, future appreciation |
Golden Visa Advantage: At the €250,000 threshold, Thessaloniki offers 30-40% more square meters than equivalent Athens properties.
Best Greek Islands for Property Investment
Greece’s sun-drenched islands offer some of Europe’s most rewarding real estate opportunities, combining golden visa eligibility with strong rental returns and breathtaking landscapes. From celebrity-favorite Mykonos to the historic charm of Rhodes, each island presents unique advantages for property investors. Let’s explore the top destinations where your Mediterranean investment can flourish.
Popular Islands for Golden Visa Applicants
Mykonos: The Jet-Setter’s Paradise
Mykonos has transformed into the Mediterranean’s most glamorous playground, attracting A-list celebrities and wealthy travelers. The real estate market reflects this exclusivity, with modern villas near popular beaches like Psarou and Super Paradise starting at €1.5 million.
For Golden Visa seekers, the €800,000 threshold applies here well. What sets Mykonos apart is its exceptional rental performance — luxury properties can generate 12-18% annual returns during the peak summer months. The island boasts world-class beach clubs, high-end shopping, and a vibrant nightlife scene that keeps demand strong.
Investors should note that new construction faces strict architectural guidelines requiring the signature Cycladic style, and the market shows no signs of slowing down despite premium prices.
Santorini: The Iconic Luxury Destination
Famous for its whitewashed cliffside villages and dramatic caldera views, Santorini remains the crown jewel of Greek island investments.
The property market here caters to high-end buyers, with luxury villas commanding €800,000 to €5 million. Due to its popularity, Santorini now requires a €800,000 minimum investment for Golden Visa eligibility.
Investors can expect premium rental yields of 10-15% during the April-to-October season, particularly for properties with infinity pools and sunset views. However, strict building regulations and limited space create intense competition for prime locations.
The island’s international airport and cruise ship port ensure consistent tourist traffic, making it ideal for investors seeking a high-return, prestige property.
Crete: The All-Rounder Investment
As Greece’s biggest island, Crete features dramatic mountain ranges, long coastlines, and varied microclimates. Following Greece’s 2024 changes, Crete joins Mykonos and Santorini with an €800,000 Golden Visa minimum, though its diversified market still offers stronger yields than smaller islands.
Crete’s unique advantage lies in its year-round appeal — while summer tourism thrives, the island’s sizeable local population and growing expat community sustain winter demand.
Investors can expect steady 5-8% rental yields, with higher returns possible for well-located properties near Chania’s Venetian harbor or beachfront units.
The island’s international airports in Heraklion and Chania, along with improving infrastructure, enhance its investment appeal.
Rhodes: Charming Buy for History-Loving investors
Rhodes, Greece’s fourth-largest island, now requires an €800,000 minimum investment for the Golden Visa programme, reflecting its popularity as a historic and tourist destination.
The medieval charm of Rhodes Town, combined with 300 days of sunshine annually, creates a compelling investment proposition.
Rhodes benefits from one of Greece’s longest tourist seasons (March to November) and a well-developed airport with numerous European connections.
The island’s rich history attracts cultural tourism, while family-friendly resorts ensure consistent demand.
Investors should budget for potential renovation costs in older properties, but can anticipate 6-9% rental yields from a mix of holidaymakers and long-term tenants.
Corfu: The Emerald Isle’s Lasting Appeal
Corfu’s lush landscapes and Venetian architecture offer a distinctly different flavor from the arid Cyclades.
Like Mykonos and Rhodes, Corfu requires an €800,000 minimum investment for the Golden Visa as one of Greece’s larger inhabited islands.
The island’s 2 universities generate student housing demand, while its accessibility from Italy and the Balkans supports tourism.
Emerging areas like Paleokastritsa and Kassiopi show strong appreciation potential, and unlike some Greek islands, Corfu remains vibrant year-round with a sizable local community.
Halkidiki: Mainland Greece’s Coastal Gem
This three-pronged peninsula combines mainland convenience with island-like beaches, all at prices 30-40% lower than popular islands.
Halkidiki’s unique advantage is its proximity to Thessaloniki (just 1 hour away), providing access to urban amenities while maintaining a resort atmosphere.
The property market thrives on 2 key demographics: summer tourists drawn to crystalline waters and year-round residents from Thessaloniki seeking second homes. Prime areas like Ouranoupolis offer 5-7% rental yields, while Kallithea’s beachfront properties command premium summer rates.
Unlike islands, Halkidiki benefits from no ferry dependency, with reliable road access supporting consistent rental demand. The area is now attracting luxury developments, suggesting strong appreciation potential for early investors.
Zakynthos: The Ionian Paradise
Zakynthos, renowned for its iconic Navagio Beach and vibrant tourism scene, now falls under Greece’s €800,000 Golden Visa investment tier.
What sets Zakynthos apart is its balanced tourism economy — lively resorts like Laganas attract young crowds, while family-friendly Tsilivi and cultural Zakynthos Town offer diverse investment options.
Unlike some Greek islands, Zakynthos maintains good year-round infrastructure thanks to its permanent population. Investors should note the island’s limited winter tourism, though the airport’s growing flight connections are improving offseason potential.
Real Estate Investment Opportunities in Greece
Greece remains one of Europe’s most dynamic property markets, offering both immediate rental income and strong appreciation potential — particularly for investors who target emerging locations before they peak.
Rental Potential in Greece
Greece’s property market offers diverse opportunities for investors, from short-term vacation rentals to long-term capital growth. With tourism booming and the Golden Visa attracting foreign buyers, now is an ideal time to invest.
Short-Term Rentals (Airbnb/Vrbo)
- Best Areas: Mykonos, Santorini, Athens, Crete
- Peak Season Yields: 10–20% (luxury villas)
- Shoulder Season: 4–7% (lower but still profitable)
Long-Term Rentals
- Best Areas: Athens, Thessaloniki, Crete (cities)
- Annual Yields: 4–8% (stable demand from locals/expats)
- Tenant Laws: Favorable to landlords (compared to other EU countries)
Golden Visa Rentals
- Many investors rent out properties when not in use
- Some developers offer guaranteed rental income (3–5% annually)
Note: strong growth continues, but invest now before prices rise further and regulations tighten. Focus on locations with upcoming infrastructure projects for best returns.
Why Greece is Your Best European Property Investment
Greece stands out as one of Europe’s most rewarding real estate markets, offering a rare combination of affordability, high returns, and lifestyle benefits. Whether you seek a Golden Visa for EU residency, a lucrative rental property, or a dream Mediterranean home, Greece delivers unmatched opportunities. Let’s explore why Greece is Europe’s smartest property investment.
Explosive Market Growth
- Transaction Volume: Property sales surged by 32% YoY in Q1 2024 (Bank of Greece).
- Price Appreciation: Athens: +53% since 2018 (now ~€3,200/m² in prime areas)
Thessaloniki: +48% since 2017
Islands (Mykonos/Santorini): +70% since pandemic lows
Golden Visa Dominance
- first in EU applications (2023), outpacing Portugal and Spain.
- Fast processing: 6–8 months vs. 12+ in other EU programmes.
Tax Advantages
- 15% flat tax for foreign investors (under “Non-Dom” regime).
- No inheritance tax on Greek property for heirs abroad.
Strategic Timing
- Prices still 20–30% below 2008 peaks in emerging areas (e.g., Northern Athens, Syros).
Program Details
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