Greek Golden Visa Investment Thresholds 2026: €800K / €400K / €250K Zone Map + 120 m² Rule
- M. Sami Akbeniz
- May 30
- 7 min read
TL;DR — 1 Minute Summary
Threshold | Geography | Min. m² | Property structure
Threshold: €800,000 · Geography: Attica region (entire) · Thessaloniki Regional Unit · Mykonos · Santorini · Islands with 3,100+ residents · Min. m²: 120 m² · Property structure: SINGLE property
Threshold: €400,000 · Geography: All other regions of Greece · Min. m²: 120 m² · Property structure: SINGLE property
Threshold: €250,000 · Geography: Anywhere — only via αλλαγή χρήσης (commercial → residential conversion) OR διατηρητέα (listed-building restoration) · Min. m²: 120 m² · Property structure: SINGLE property
⚠️ Common misconception: "€800K only applies to Athens" — wrong
✅ Reality: €800K covers Thessaloniki, Mykonos, Santorini and 3,100+ population islands
📅 Legal basis: Law 5100/2024 Article 64 + Joint Ministerial Decision 214926/2025 (Government Gazette B 6014, 11 November 2025) + Circular 1/2026 (22 April 2026)
1. From the Old System to the New
Greece's Golden Visa story began in 2013 with a single number: €250,000. That flat threshold made Greece Europe's most accessible Golden Visa programme for 11 years. Thousands of investors from Turkey, China, Lebanon, the UK and the US used it to acquire Athens apartments.
On 1 September 2024 that era ended. Law 5100/2024 Article 64 introduced the new three-tier zone system.
Why the change?
Local Athenians could no longer afford to rent (rents rose 48% from 2019-2024)
Mykonos and Santorini reached saturation with foreign-owned property
The European Commission has been pressuring residency-by-investment programmes
Greece chose not to end the programme but to lift it into the premium segment
The new framework rests on three pillars: zone-based pricing + property size + single-property rule.
2. Zone A — €800,000 (The Common Mistake)
Areas in scope:
Region | Details
Region: Attica (entire region) · Details: Athens centre + all suburbs + Piraeus + Glyfada + Voula + Vouliagmeni + Ellinikon
Region: Thessaloniki Regional Unit · Details: The city of Thessaloniki + surrounding municipalities
Region: Mykonos · Details: Entire island
Region: Santorini · Details: Entire island
Region: Islands with 3,100+ residents · Details: Kefalonia, Corfu, Lesvos, Limnos, Chios, Samos, Rhodes, Kos, Patmos, etc. (by population census)
COMMON MISTAKE: Many advisory sites still say "€800K only applies to Attica." This is misleading. Since September 2025, even Thessaloniki sits in the €800K band.
Practical impact:
A 90 m² apartment in central Thessaloniki may sell for €350,000. Not eligible for Golden Visa because:
Threshold is €800K (Thessaloniki is in the €800K zone)
Min. 120 m² (this unit is 90 m² → fails the size test)
The investor can buy the property, but the Golden Visa won't follow.
Realistic Zone A options
Area | Typical €800K property | Gross rental yield
Area: Athens Glyfada · Typical €800K property: 130-150 m² luxury apartment · Gross rental yield: 3.5-4.5%
Area: Athens Voula · Typical €800K property: 140-160 m² penthouse · Gross rental yield: 3-4%
Area: Central Athens (Kolonaki) · Typical €800K property: 120-140 m² classic apartment · Gross rental yield: 3-4%
Area: Thessaloniki centre · Typical €800K property: 150-200 m² penthouse · Gross rental yield: 4-5%
Area: Mykonos · Typical €800K property: 120-140 m² villa · Gross rental yield: 3-4% (seasonal)
3. Zone B — €400,000 (Standard Band)
Scope: All Greek regions outside Zone A.
This is a wide category. Key targets for foreign investors:
Region | Typical €400K property | Advantage
Region: Piraeus area (outside Attica boundary) · Typical €400K property: 110-130 m² modern flat · Advantage: Quick Athens access, 5-6% yield
Region: Larisa · Typical €400K property: 120-150 m² apartment · Advantage: Central Greece, low competition
Region: Patras · Typical €400K property: 130-160 m² family flat · Advantage: Port + university city
Region: Volos · Typical €400K property: 100-130 m² · Advantage: Pelion foothills, tourism
Region: Chalkidiki (Halkidiki) · Typical €400K property: 120-150 m² seasonal + year-round · Advantage: Thessaloniki's holiday region
Region: Corinth · Typical €400K property: 130-160 m² · Advantage: 1 hour from Athens, coastal
Region: Islands below 3,100 pop. · Typical €400K property: 100-120 m² · Advantage: Greek island lifestyle
⚠️ Piraeus caveat: Piraeus is often described as part of Athens but is administratively in Attica — so it falls under the €800K threshold, not €400K. Piraeus city centre, Korydallos, Keratsini = all €800K.
4. Zone C — €250,000 (The Niche Window)
Threshold: €250,000 — but only for 2 property types:
a) αλλαγή χρήσης (Allagí Chrísis) — Change of Use
Definition: Conversion of a commercial, industrial or office building into residential use.
Conditions:
Pre-conversion use is non-residential
Post-conversion building permit and use certificate are "residential"
Architectural, structural and MEP systems fully renewed
Engineer report + municipal permit issued after 5 April 2024
Example projects: Aurora Residences (Pangrati, former office), Etolikou Seafront (Piraeus, former port building), MINOAS Athens (central Athens, former office).
b) διατηρητέα (Diatiritea) — Listed-Building Restoration
Definition: Restoration of buildings registered as protected under Greek cultural heritage law.
Conditions:
Building is listed by the Hellenic Ministry of Culture
Restoration follows a Ministry-approved project
Facade, load-bearing structure, architectural character preserved
Interior converted to residential
Example areas: Athens Plaka, Thessaloniki Ano Poli, Corfu Old Town.
Why is Zone C so valuable?
Comparison | Zone A | Zone C
Comparison: Threshold · Zone A: €800,000 · Zone C: €250,000
Comparison: Equivalent in USD (approx) · Zone A: ~$870K · Zone C: ~$272K
Comparison: Same GV + EU residency rights · Zone A: ✅ · Zone C: ✅
Comparison: Family members (spouse + children) · Zone A: ✅ · Zone C: ✅
Comparison: Pathway to citizenship (7 years) · Zone A: ✅ · Zone C: ✅
The result: Identical legal status at one-third the cost. A strategic gem for capital-efficient investors.
⚠️ Risks (heightened by Circular 1/2026):
Fake αλλαγή χρήσης projects (cosmetic conversion only)
Engineer reports backdated to qualify (prohibited)
Bank transfer scrutiny (cash-back detection)
Avla's approach: Every Zone C project in our portfolio has been independently reviewed by Avla's engineering team + permit date verified as post-5 April 2024.
5. The 120 m² Minimum Size Rule (New)
KYA 214926/2025 Article 4: Every Golden Visa property must be at least 120 m² gross.
This rule didn't exist before September 2024. That's why investors used to qualify with 50-80 m² studios.
Practical consequences:
❌ No longer eligible:
50 m² studios (Athens centre "investment units")
70-80 m² 1-bedrooms
Hotel rooms converted into "hospitality units"
✅ Still eligible:
120 m² standard 2-bedroom (central Athens)
130-150 m² family apartment (north Athens)
150-200 m² penthouse (Thessaloniki)
120 m² villa (Chalkidiki, Corinth)
What this means for you
In premium areas like central Athens or Glyfada, the 120 m² requirement is rarely binding because a 120 m² unit there already exceeds €800K. But in Zone B (€400K) and Zone C (€250K), it's critical:
Zone B: A €400K, 90 m² flat → NOT eligible (size fails)
Zone C: A €250K, 100 m² unit → NOT eligible (size fails)
Right approach: Check size first, price second.
6. The Single-Property Rule
KYA 214926/2025 Article 5: The threshold must be invested in ONE property.
Old thinking: "If the threshold is €250K, I'll buy two €125K studios."
New reality: That is banned.
Old (pre-2024) | Now (2026)
Old (pre-2024): 2× €125K studios · Now (2026): ❌ Banned
Old (pre-2024): 1× €400K apartment + 1× €100K storage · Now (2026): ❌ "Storage" counts as a separate property
Old (pre-2024): 1× €800K penthouse · Now (2026): ✅
Old (pre-2024): 1× €450K loft (Zone B) · Now (2026): ✅
Definition of "single property"
A unit with one entry in the Greek land registry (one KAEK code). In practice:
Combining two adjacent apartments structurally and creating a single registry entry → allowed (must be done at the project stage)
Two separate registry entries in the same building → not allowed
All projects in Avla's portfolio comply with the single-property rule.
7. Zone Selection Decision Matrix
Which zone suits you? It depends on capital, purpose, and risk tolerance:
Profile | Recommended Zone | Typical project
Profile: Premium investor (€800K+ liquid) · Recommended Zone: Zone A · Typical project: Athens Glyfada, Voula, Mykonos villa
Profile: Mid-tier investor (€400-500K) · Recommended Zone: Zone B · Typical project: Chalkidiki, Larisa, Pelion
Profile: Capital-efficient, wants GV fast · Recommended Zone: Zone C (€250K) · Typical project: Avla portfolio: Aurora, Pangrati, Piraeus conversions
Profile: Family lifestyle + GV · Recommended Zone: Zone A (island) or Zone B (Chalkidiki) · Typical project: Mykonos villa or Chalkidiki residence
Profile: Capital appreciation focus · Recommended Zone: Zone A (Athens) · Typical project: Pangrati, Athens Riviera
Profile: Pure passive income · Recommended Zone: Zone B (NOT Piraeus — Larisa, Patras) · Typical project: City-centre yield play
8. Frequently Asked Questions
Q: Can I combine two properties in the same area to reach €800K?
A: Yes, if you structurally combine them. The two existing titles must be merged into one new registry entry. Add €10-15K for architect / lawyer fees.
Q: Is Thessaloniki worth investing in if it's a €800K zone?
A: Thessaloniki city centre is €800K. But if you go outside the Regional Unit (north/south villages, Chalkidiki area), you're in Zone B (€400K). Avla has Chalkidiki projects in Tier-2 negotiation.
Q: Is the 120 m² gross or net?
A: Gross — i.e., balconies and shared-wall allowance included, as listed in the land registry. Your usable net might be 105 m², but if the registry says 120 m², you qualify.
Q: Are pre-2024 Golden Visas affected by the new rules?
A: Existing Golden Visa holders are "grandfathered." But at renewal (after 5 years), Circular 1/2026 procedural rules apply.
Q: Can I mortgage a €250K exception property?
A: No. The €250K threshold amount must be 100% equity. Mortgages are possible only above the threshold (e.g. on a €270K property, you can finance €20K).
9. Avla Portfolio by Threshold Band (May 2026)
Across Avla's active Tier-1 developers:
Threshold | Active projects | Examples
Threshold: €250K exception (Zone C) · Active projects: 14 · Examples: Aurora Residences (A0124), Etolikou Seafront (A0125), Aenaon Park (A0135), Mikrolimano (A0127), MINOAS (A0130)
Threshold: €400K (Zone B) · Active projects: 5 · Examples: Chalkidiki (Tier-2 — Ege Yapı), Patras projects
Threshold: €800K (Zone A premium) · Active projects: 3 · Examples: The ONE Glyfada (A0137), Venus Athens Riviera (A0136)
Weighting: 64% of Avla's portfolio is Zone C (€250K exception) — that's where capital-efficient investors concentrate.
10. Summary & CTA
🎯 Key takeaways:
The €800K threshold is not just Athens → it includes Thessaloniki + Mykonos + Santorini + 3,100+ population islands
€400K Zone B = the rest of Greece (Chalkidiki, Larisa, Patras, etc.)
€250K exception = αλλαγή χρήσης (commercial→residential) OR διατηρητέα (listed-building restoration)
120 m² minimum size — binding in Zone B/C
Single property mandatory — splitting is banned
Avla's portfolio leans heavily on €250K exception projects (14 active)
📞 Personalised portfolio for your zone and budget: [avlarealestate.com/golden-visa-basvuru](https://avlarealestate.com/golden-visa-basvuru) — 3-5 project options matched to you within 24 hours.
Related articles:
Author: Avla Real Estate Investment Advisory
Published: 2026-06-03
Last updated: 2026-06-03
Sources: Law 5100/2024, KYA 214926/2025 (Government Gazette B 6014), Circular 1/2026, Varnavas Law, Katsouris Law
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