Greece Golden Visa Single Property and 120 m² Rule (2026)

The new rules that came into force in the Greece Golden Visa programme in 2024 introduced two important criteria for real estate investments: the minimum investment must be made through a single property, and in the €800,000 and €400,000 categories built properties must have at least 120 m² of main living space.

However, the scope of these two rules is not the same.

The most important distinction is this: in the €800,000 and €400,000 categories both the single-property and the 120 m² requirements apply, while on the special €250,000 investment routes the single-property requirement remains but the 120 m² minimum size requirement does not apply.

The implementing circular of the Greek Ministry of Migration and Asylum no. 240076/2024 of 25 September 2024 sets out this distinction clearly.

Which Investment Categories Does the Rule Apply To?

*The 120 m² requirement concerns the main living space of built properties or properties with a building permit.

The basic formula that can now be used for the Golden Visa is therefore as follows:

€800,000

Single property + at least 120 m² of main living space

€400,000

Single property + at least 120 m² of main living space

€250,000 change of use

Single property + no 120 m² minimum

€250,000 listed/historic building

Single property + no 120 m² minimum

What Does the Single-Property Requirement Mean?

One of the important elements of the new system is the requirement that the minimum Golden Visa investment be made through a single property.

For this reason, an investor cannot combine the purchase prices of different independent properties to reach the required minimum investment.

For example, in an area where the €800,000 threshold applies, the Golden Visa investment requirement cannot be met by buying two separate apartments of €400,000 each.

Likewise, combining the prices of two separate €200,000 properties in the €400,000 category does not meet the minimum investment requirement.

What About the €250,000 Category?

The same single-property principle applies here too.

This point is particularly important because there is still outdated or incorrect information online about the €250,000 change-of-use and restoration routes.

The Greek Ministry of Migration and Asylum's implementing circular of 25 September 2024 states clearly that in the €250,000 change-of-use category the investment must be made in "ένα μόνο ακίνητο" — only one property.

The same single-property rule also applies to the €250,000 listed/historic building category.

Can You Buy Two Properties, e.g. €180,000 + €120,000?

No.

For example, even if an investor buys one property worth €180,000 and a second worth €120,000, investing €300,000 in total, they cannot meet the €250,000 Golden Visa minimum investment requirement by combining the values of two separate, independent properties.

The issue is not whether the total investment exceeds €250,000. The minimum investment must be made in a single property.

For this reason, the "add up several properties to reach the investment threshold" approach associated with older Golden Visa systems should not be applied to the new special €250,000 investment routes.

What Does the 120 m² Requirement Mean?

If a built property or a property with a building permit is being bought in the €800,000 and €400,000 categories, the property's main living space must be at least 120 m².

The expression to watch here is "main living space".

The existence of auxiliary spaces such as a storage room or parking space does not mean they can automatically be included in the 120 m² calculation.

For this reason, before investing you should not rely only on the "gross square metres" stated in the property listing. The property's official documents, architectural plans and legal status should be checked.

Is There a 120 m² Requirement for the €250,000 Golden Visa?

No.

This is one of the most important features that distinguishes the €250,000 investment routes from the €400,000 and €800,000 categories.

According to the Greek Ministry of Migration and Asylum's implementing circular, the 120 m² minimum size requirement does not apply to the commercial-to-residential change-of-use and listed/historic building restoration categories.

So, for example, a property of 70 m², 80 m² or 100 m² does not fall outside the €250,000 category merely because it is smaller than 120 m².

However, the property must meet all the other legal conditions of the relevant special €250,000 category.

The €250,000 Commercial-to-Residential Conversion Route

One of the special €250,000 investment options is buying properties whose main spaces have been converted to residential use.

On this route the minimum investment is €250,000, a single property is mandatory and the 120 m² requirement does not apply.

So the advantage of the €250,000 conversion route is not that the investment can be split across several small properties. Its advantage is that the 120 m² minimum size requirement does not apply.

In addition, the change of use must have been legally completed before the Golden Visa application is made.

For this reason, a commercial property marketed simply as "can be converted to residential in future" does not on its own mean €250,000 Golden Visa eligibility.

The €250,000 Listed/Historic Building Route

The minimum investment can also be €250,000 for listed buildings that need to be restored or rebuilt.

Here too a single property is mandatory and the 120 m² minimum size requirement does not apply.

However, the investor's restoration obligations are also important in this category.

For this reason, when considering the purchase of a €250,000 listed building, not only the purchase price but also the cost of restoration and the related administrative obligations must be taken into account.

Why Can the Term "Zone C" Be Misleading?

Simply describing the €250,000 category as "Zone C" can be misleading.

While the €800,000 and €400,000 thresholds are determined mainly by the geographical area where the property is located, the €250,000 threshold relates to certain special property categories.

In other words, €250,000 is not the threshold for buying an ordinary home in some "cheap area" of Greece.

The €250,000 route applies mainly to properties converted to residential use and to listed buildings within the scope of restoration/reconstruction.

For this reason, rather than classifying Golden Visa investment options only as "Zone A – Zone B – Zone C", the investment threshold and the property's legal nature should be assessed together.

What to Watch Out for in Practice

Before buying a property for the Golden Visa, the following points in particular should be checked:

• Is the minimum investment amount met in a single property?
• If it is in the €800,000 or €400,000 category, is the property's main living space really at least 120 m²?
• Is there a difference between the gross area stated in the listing and the official main living space?
• If it is a €250,000 conversion project, has the change of use been legally completed?
• If it is in the €250,000 listed-building category, does the property really have the relevant protected status?
• Are the land registry, cadastre and architectural documents consistent with each other?
• Is there a legal or technical issue with the property that could affect its Golden Visa eligibility?

Especially in the €250,000 category, the fact that a project's marketing material says "Golden Visa Eligible" is not enough on its own. Whether the property really meets the legal conditions of the relevant special investment category should be examined before the purchase.

The Golden Visa Single-Property and 120 m² Rule at a Glance

In short

Single-property requirement: present in all four categories.

120 m² requirement: only in the main €800,000 and €400,000 investment categories.

€250,000 conversion: single property, but no 120 m².

€250,000 listed building: single property, but no 120 m².

Legal Basis

The main legal basis of these rules is the Golden Visa provisions of the Greek Migration Code and the Greek Ministry of Migration and Asylum's implementing circular no. 240076/2024 of 25 September 2024.

• €800,000 → single property + 120 m²
• €400,000 → single property + 120 m²
• €250,000 conversion → single property + no 120 m² requirement
• €250,000 listed building → single property + no 120 m² requirement

Frequently Asked Questions

1. Does the single-property rule apply to all Golden Visa investment categories?
Yes. Under the new regime, in the €800,000 and €400,000 minimum investment categories as well as in the €250,000 change-of-use and listed-building categories, the minimum investment must be made through a single property. It is therefore not possible to reach the relevant minimum investment amount by combining the purchase prices of different independent properties. The exception in the €250,000 category concerns not the single-property requirement but the 120 m² minimum size requirement.

2. Can you buy two separate properties for the €250,000 Golden Visa?
It is not possible to meet the minimum €250,000 investment requirement by combining the values of two separate independent properties. For example, buying two separate properties worth €180,000 and €120,000 means a total investment of €300,000, but it does not meet the Golden Visa requirement that the minimum investment be made in a single property. The Ministry's implementing circular clearly adopts the single-property principle on the special €250,000 routes as well.

3. Is there a 120 m² requirement for the €250,000 Golden Visa?
No. The 120 m² minimum size requirement does not apply on the €250,000 commercial-to-residential change-of-use route or the listed/historic building restoration route. A property below 120 m² therefore does not fall outside these categories merely because of its size. However, the property must meet all the other conditions of the relevant special route, including change-of-use or listed-building status.

4. How is the 120 m² rule applied to €400,000 and €800,000 investments?
In the general €400,000 and €800,000 investment categories, at least 120 m² of main living space is required for built properties or properties with a building permit. For this reason it is not enough to look only at the total or gross square metres stated in the property listing. The existence of a storage room, parking space or other auxiliary spaces does not mean the main living space is 120 m². The property's official technical and legal documents should be checked before the purchase.

5. Can a property under 120 m² never be used for the Golden Visa?
It can. If the property meets the conditions of the €250,000 commercial-to-residential change-of-use or listed/historic building restoration category, the 120 m² minimum does not apply. By contrast, on the general €400,000 or €800,000 real estate investment route, the 120 m² requirement applies to built properties. The assessment should therefore be made not only on the basis of the property's size but on which Golden Visa investment category it falls into.