Greece’s golden visa has been significantly reshaped since 2024 – investment thresholds have risen, new location rules apply and Airbnb-style letting of golden visa properties is now banned. Here’s what British buyers need to know.
The Greek golden visa has long been one of the most accessible routes to EU residency for British buyers. Since Brexit, the 90-day rule has limited how long UK citizens can spend in the Schengen Area without a visa, and for those who want to spend extended time in Greece – or use it as a base for wider European travel – the golden visa has offered a practical and relatively affordable solution.
But the programme has changed substantially. Investment thresholds have risen sharply, new rules govern how qualifying properties can be used, and the combination of golden visa residency and holiday rental income that many investors once planned around is now prohibited. If you’re considering the golden visa route, this article explains what the current rules look like.
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Contents
How the golden visa works
Greece’s golden visa is a residency-by-investment scheme open to non-EU nationals. Purchase a qualifying property and you receive a five-year, renewable residence permit that covers you, your spouse, children under 21 and the parents of both spouses. You can live in Greece and travel freely throughout the Schengen Area. There’s no minimum stay requirement to maintain the permit, which suits buyers who want the flexibility of a European base without committing to full-time residence.
Since the EU’s Entry/Exit System (EES) launched in April 2026, golden visa holders are also exempt from that system and from the forthcoming ETIAS travel authorisation – a meaningful practical benefit for frequent travellers.
After seven years of lawful residence, holders can apply for Greek citizenship, subject to language requirements and demonstrating close ties with the country.
What the investment thresholds look like now
The thresholds have been raised twice since 2023 and now sit considerably higher than the €250,000 entry point the scheme was originally known for. The current structure, which took effect from September 2024, creates two main tiers for residential property purchases:
€800,000 applies in high-demand areas: Attica (which includes central Athens and Piraeus), Thessaloniki, Mykonos, Santorini and any island with more than 3,100 residents.
€400,000 applies in all other areas of Greece – a broad category covering mainland regions, smaller islands and coastal towns outside the premium zones.
In both cases, the property must be a single residential unit of at least 120 square metres. Balconies, parking spaces and storage rooms don’t count towards that figure, which rules out many smaller apartments in city centres.
A lower threshold of €250,000 remains available for a specific type of project: converting a commercial building into a residential property, or restoring a listed or heritage building. This is a one-time qualification – once a property has been converted and used to secure a golden visa, any future non-EU buyer will need to meet the standard threshold for that zone.
Processing times are currently running at six to nine months from application, and up to 12 months in busier regions such as Attica. You’ll receive a Blue Certificate in the meantime, which allows you to live and travel legally while your permit is being processed.
The change that matters most for rental investors
For buyers who had planned to combine the golden visa with short-term rental income, this is the rule that changes everything: properties purchased under the golden visa scheme are now prohibited from being rented out on a short-term basis.
This is set out in Law 5100/2024 and is absolute. It covers any Airbnb-style or platform-based letting, however occasional. Penalties for non-compliance include a fine of €50,000 and, in serious cases, the loss of your residency permit.
If your intention was to buy a property, secure residency and offset the costs through holiday rental income, that approach is no longer available. Long-term lets are still permitted, but short-term letting – the model that made golden visa investment so attractive in high-tourism areas – is off the table.
What this means in practice
If EU residency is your primary goal, the golden visa still works well. Focus your search on areas where the €400,000 threshold applies – the Peloponnese, Thessaly, Epirus, smaller Aegean islands and much of the Greek mainland offer good value at that level, and the lifestyle appeal is genuine.
If rental income matters to you, you have two realistic paths. You can buy a property outside the golden visa scheme – most purchases by British buyers fall into this category – and let it short-term, subject to the registration and compliance requirements that now apply to all short-term rentals in Greece. Or you can pursue a golden visa property and let it long-term, taking advantage of the three-year income tax exemption available to owners who commit to a long-term lease. Neither path is as straightforward as it was a few years ago, but both are workable with the right advice.
If you’re not sure the golden visa is the right route, it’s worth knowing that other visa options exist. The digital nomad visa suits buyers working remotely for an overseas employer. The non-lucrative visa may be appropriate for retirees with sufficient income from pensions or investments. A specialist immigration adviser can help you work out which route fits your situation.
Whatever your plans for Greece, getting proper legal advice early is the single most important step. The rules in this area have changed repeatedly and continue to evolve – an experienced Greek property lawyer will ensure your purchase is structured correctly from the outset.
