New Rules, Risks, and Strategies for Purchasing Real Estate with Greece Golden Visa in 2025
Current thresholds and regional restrictions
As of November 2025, the Greece Golden Visa program will progress with region-based thresholds for real estate investments. Following the 2024 regulations, a model has emerged that raises the threshold in districts with high demand. The main picture is as follows:
- First tier (central/prime areas: certain municipalities of Athens, central Thessaloniki, and densely touristic islands): approximately €800,000 minimum, single independent property, generally at least 120 m².
- Second tier (other provinces and districts): approximately €400,000 minimum, single independent property, generally at least 120 m².
- Special cases: The €250,000 level is maintained for properties converted from commercial use to residential or those with cultural/protective value that have completed restoration.
These rules directly affect the investment decision. Details such as inter-municipal boundaries, the scope of the “single property” requirement, and the 120 m² threshold may change. Check the current text and application before purchasing. For official information and procedures, refer to the Greece Ministry of Migration and Asylum Golden Visa page.
Usage restrictions and ownership model
You cannot use the property acquired for Golden Visa purposes for short-term rental (daily/holiday rental). Many municipalities strictly monitor this ban. You cannot also show the property as the company’s registered address. If the investor plans to make the purchase through a company instead of as an individual, the investor must own 100% of the shares of that company for the property to qualify for the visa. Encumbrances such as liens, mortgages, or seizures invalidate visa eligibility.
Location and Asset Selection: Returns, Liquidity, and Exit Strategy
Region-based investment thesis
Location answers three questions simultaneously: Visa eligibility, rental income, liquidity at exit. Prime areas require a high entry ticket; in return, they provide strong liquidity and demand from foreign buyers. Second tier areas offer a lower entry amount; you can achieve faster value appreciation in the right neighborhood in the medium term.
- Central Athens: The rules are strict; you consider the €800,000 threshold, single property, and square meter requirement. Rental demand is strong; the exit strategy is clear.
- Thessaloniki and port cities: Student and logistics demand supports the rental market; there is qualified stock available at the €400,000 level.
- Transformation/rehabilitation-focused areas: The €250,000 band looks attractive; however, technical and permit processes can be lengthy. Set aside a buffer budget against cost overruns.
Property type, building age, and technical quality
Do not only look at the “price/size” equation. Structural safety, energy efficiency, and management quality determine rental sustainability.
- Building age and earthquake safety: Greece is a seismic country. The static report, column-beam interventions, last reinforcement date, and engineering checks are the backbone of the investment.
- Energy performance: Units with low energy certificates (EPC) face increased risks of rental discounts or vacancies. Check insulation and heating systems.
- Management and fees: In multi-story buildings, review the management plan, fee balance, and common area maintenance arrangements.
- Rental strategy: Focus on medium-long term rentals due to short-term rental bans. Properties near university or hospital clusters generate stable demand.
Legal and Technical Review: All Steps from Title Deed to Zoning
Title deed, encumbrances, and zoning compliance
Before purchasing, present a clear “clean file” at the table. Do not skip the following steps:
- Title deed and cadastre: Check the title records and cadastre status. Clear risks such as mortgages, seizures, usufruct, rental encumbrances, and neighborhood disputes.
- Zoning and permits: Review the building permit, occupancy, and modification permits. Illegal areas, closed balconies, and interventions in common areas pose risks of demolition/penalties in the future.
- Transformation projects: Do not apply for Golden Visa before completing the work completion, independent unit registration, and usage permit in commercial to residential conversions.
- Tax debts and fees: Inquire about the seller’s property tax (ENFIA) and apartment fee debts; do not encounter surprises during the transfer.
Notary, AFM, bank, and money transfer
Foreign investor transactions are conducted in a specific order:
- Obtain AFM (Greek tax number).
- Authorize your lawyer with a power of attorney; expedite title and notary transactions.
- Open a bank account; you can send the funds from abroad and prove the source. Keep transfer receipts.
- Make a definitive sales contract at the title deed instead of a sales promise. Have a translator present at the notary.
- Complete post-sale registration and cadastre record; include the title deed and record output in the file.
Costs, Taxes, and Cash Flow: Clarify the Figures Upfront
Purchase expenses and annual burdens
Include purchase and annual costs in the investment budget:
- Transfer tax and/or VAT: 24% VAT may apply in new projects; you pay transfer tax in the second-hand.
- Notary, title deed, lawyer: Generally varies around 2-4% in total; you may see an increase in large cities.
- Golden Visa fees: Approximately €2,000 for the investor, additional fees for each family member.
- Annual ENFIA: Affected by square meters, location, and age; write it down as a fixed expense item in the budget.
- Insurance and maintenance: Plan for home insurance, periodic maintenance, and furniture depreciation.
Volatility in exchange rates affects the total cost. Proceeding with equity instead of Euro-based debt is safer in terms of compliance with the visa timeline.
Rental model, bans, and sample returns
Due to the short-term rental ban, structure the strategy according to medium-long term rentals. Proximity to housing stock, transportation, and university axes determines rental speed.
- Gross return: A range of 3-5% for housing in a good location in Athens is a reasonable reference.
- Net return: Aim for a range of 2-4% after deducting taxes, management, and maintenance.
- Vacancy: Create a scenario with an annual assumption of 5-8%.
- Exit: Maintain the property’s eligibility for the visa and keep the technical file updated to broaden the buyer pool at resale.
Application File, Timing, and Renewal
Required documents and translation
After completing the property registration, prepare the application file clearly and completely:
- Passport and biometric photos
- Sales contract, title deed, and cadastre registration documents
- Payment record and source of funds documents
- Valid health insurance in Greece
- Marriage and birth records for family reunification
- Official translation and necessary certifications
Submit the application after the property transfer and registration. Attend the biometrics appointment on time. If you dispose of the property, you lose the residency basis; do not risk rejection in renewal.
Timeline, process management, and official reference
A well-planned file yields results in 2-6 months; this period may extend in busy centers. For the latest process, document list, and announcements, follow the official source: Greece Ministry of Migration and Asylum Golden Visa.
- Pre-approval and title deed: Proceed in parallel with your lawyer; do not delay the registration.
- Biometrics and card delivery: Schedule your appointment early; manage family members in the same file.
- Renewal: Keep the property, and maintain updated insurance and address records.
Corporate and Cross-Border Perspective: Compliance and Operation with Corpenza
Beyond investment: accounting, payroll, and posted worker
Real estate is just one leg of global expansion. Companies wishing to establish teams, work with contracted experts, or make temporary assignments in Greece or other EU markets take compliance risk seriously. Corpenza advances end-to-end in this regard:
- International accounting: We keep finance transparent with multi-currency, multi-country records, and reporting standards.
- Payroll: We pay remote and contracted workers’ salaries in compliance with local regulations; companies record these costs as expenses.
- Staff leasing and posted worker: We manage project-based assignments in Europe in compliance with legislation through a temporary employment model.
- Tax optimization: We optimize cash flow and effective tax rates considering double taxation agreements.
While there is a short-term rental ban, you cannot make the property a business center; however, you must correctly tax and report long-term rental income. Corpenza manages the accounting and declaration of rental income according to international standards.
Incorporation, residency, and citizenship planning
Investors aim to establish corporate assets, employ teams, and scale operations across multiple countries alongside real estate. Corpenza structures this goal:
- Company establishment: Quick and compliant establishment in Greece and other EU countries; we follow the regulations and registration processes.
- Residency/work permits: We coordinate Golden Visa, work permits, and family reunification in a single flow.
- Citizenship by investment: We draw a medium-long term citizenship roadmap by balancing your portfolio based on country and program.
Global expansion involves interconnected decisions from real estate acquisition to payroll management, tax compliance to personnel assignments. When you establish the correct order at every step, costs decrease, and you save time.
Applicable Checklist and Final Notes
Pre and post-purchase checklist
- Confirm the current threshold and regional rule; write the single property and square meter requirement in your file.
- Obtain AFM, power of attorney, and bank account at an early stage.
- Check title/cadastre inquiry, encumbrances, zoning, and permits with your lawyer.
- Verify static inspection, energy certificate, and building management.
- Make the fund transfer traceable; keep the receipt and SWIFT output.
- Proceed without disrupting the order of purchase, registration, and Golden Visa application.
- Establish the rental strategy in compliance with the ban; standardize rental agreements.
- Allocate an annual budget for taxes, insurance, and maintenance.
Regulation updates and call
Greece has strengthened region-based thresholds and usage restrictions in Golden Visa to protect housing supply. This framework remains valid in 2025; regularly follow municipality and ministry announcements. Always refer to the official ministry page for official processes, fees, and family coverage.
Do not view real estate acquisition as a singular transaction. Manage residency, tax, payroll, and employment flows in the same plan. Corpenza coordinates investment, incorporation, residency/work permits, international accounting, payroll, staff leasing (posted worker), and tax optimization under one roof; you focus on the investment decision.
In summary, with the right location, clean technical-legal file, clear cash flow, and disciplined application timeline, Greece Golden Visa real estate investment creates a sustainable residency and a long-term asset.
