Greece Golden Visa: €250,000, €400,000, €800,000 — The Three Tiers Fully Explained (2026)

The three tiers with the details the ads leave out: which tiers carry the 120 m² rule, the real scope of Zones A/B/C, the true condition of the conversion route and the Airbnb ban.

Many Golden Visa ads circulating on social media summarise the programme's three investment tiers (€250K / €400K / €800K) in a single graphic — but these summaries usually skip a critical detail: in which tiers the 120 m² minimum-size rule applies. In this article we explain the three tiers completely and accurately, and clarify the points that marketing materials so often miss.

The Three Tiers: The Complete and Correct Table

The table below shows every condition of the three tiers in full. Pay particular attention to the row marked in red — this is a point that most promotional material does not state clearly:

Parameter	Zone C	Zone B	Zone A
Min. Investment	€250,000	€400,000	€800,000
Scope	All of Greece, no limit	Rest of the mainland + islands with population ≤3,100	Attica, Thessaloniki, Mykonos, Santorini, islands with population >3,100
Condition	Commercial/industrial → residential conversion OR restoration of a listed historic building	Standard residential purchase	Standard residential purchase
Min. 120 m² Rule	NO	YES	YES
Single-Property Rule	Single property	Single property, no combining	Single property, no combining
Short-Term Rental	Banned	Banned	Banned

The Most Overlooked Detail: The 120 m² Rule Applies in Only Two Tiers

Many promotional graphics associate the 120 m² rule only with the top tier (€800,000, Zone A); this can leave the viewer with the false impression that "the 120 m² rule only exists in expensive areas". In reality:

Zone A (€800,000): the 120 m² rule APPLIES — single property, minimum 120 m² of enclosed main area.
Zone B (€400,000): the 120 m² rule APPLIES IN EXACTLY THE SAME WAY — this tier is usually skipped or left vague, but the condition is identical.
Zone C (€250,000, conversion/restoration): NO 120 m² rule — the only route among the three tiers exempt from the size limit. (Details: the single-property and 120 m² rule.)

This distinction matters, because someone investing €400,000 who assumes meeting the price threshold is enough and chooses a property under 120 m² may have their application rejected. Only enclosed main-use areas (kórioi chōroi) count toward the 120 m²; balconies, open terraces, storage rooms and parking are not included.

Zone C: The Real Condition Behind the "€250,000" Label

The €250,000 route, summarised in ads as "converted from commercial/industrial to residential", actually covers two separate sub-routes:

Commercial-to-residential conversion: converting commercial/industrial buildings such as former offices, warehouses or factories into homes.
Restoration of listed buildings: restoring buildings with cultural/historic heritage status.

Both sub-routes carry a critical legal condition: the change of use or the restoration must have been officially completed and registered in the land registry BEFORE the Golden Visa application is made. Relying on this route for a project still under construction or whose official conversion is not yet complete carries a serious risk of rejection — real case examples documented in our conversion requirements and legal due diligence articles confirm this.

Zone A: Are the Examples Given in the Ads Correct?

The graphics frequently give "Athens, Thessaloniki, Mykonos, Santorini" as examples — correct, but incomplete. Zone A is not limited to these four places; the whole of the Attica region (including Athens, Piraeus and the Athens Riviera), the whole of the Thessaloniki Regional Unit and ALL Greek islands with a population above 3,100 (Crete, Rhodes, Corfu, Paros, Naxos, Samos, Lesbos, Chios, Zakynthos, Kefalonia and more) fall within this tier. That means more than 30 regions/islands rather than 4 examples.

Zone B: What Does "All Other Regions" Mean?

The phrase "All Other Regions" used for the €400,000 tier is technically correct but lacks practical detail. Concretely, this tier covers: mainland regions such as the Peloponnese (including Kalamata, Pylos, Porto Heli), Halkidiki, Epirus, Thessaly and Thrace, and small islands with a population of 3,100 or below. As detailed in our Peloponnese and small islands articles, there are also large price/yield differences within this tier — for example, Kalamata's Verga area and Halkidiki's tourist coastline offer very different investment profiles.

The Short-Term Rental Ban — Absent from Every Ad, Yet the Most Critical Condition

A rule that appeared nowhere in the promotional material we reviewed, yet is one of the Golden Visa's most important operational restrictions: whichever tier the property is bought in, short-term letting via platforms such as Airbnb/Booking.com is strictly prohibited. Under paragraph 7A of Article 100 of the Law, violations lead to cancellation of residence permits and administrative fines of €50,000-150,000 (details in our Airbnb ban article). This is a restriction that absolutely must be known when making an investment decision, yet is almost never mentioned in marketing materials.

Other Important Conditions Missing from the Ads

Single-property rule: whatever the investment amount (Zone A or B), the threshold cannot be reached by combining several small properties — only in Zone C does this flexibility work somewhat differently.
Government application fees: €2,000 for the main applicant + €150 per family member — ads usually show only the property price and omit the additional costs (3.09% transfer tax, notary, lawyer, roughly 8-10% in total).
Family scope: spouse, children under 21, student children aged 21-24 and the parents of both spouses can be included — this broad scope also rarely fits into one-line ads.
No residence requirement: there is no requirement to live in Greece to keep the Golden Visa, but genuine physical residence is required if permanent residence or citizenship is the goal.

Conclusion: How to Read the Ad Correctly

Summary graphics like these can be useful for signalling that the programme exists and the general price range, but they are not sufficient for a real investment decision. Proceeding without understanding the full conditions of the three tiers, which tiers the 120 m² rule applies to, the short-term rental ban and the total cost items can end in serious rejection risks or unexpected costs. You are always advised to verify the summary information offered by an ad or social-media post with independent, up-to-date legal advice.

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Frequently Asked Questions

1. Does the 120 m² rule really apply only to the €800,000 tier?
No — this is a common misunderstanding. The 120 m² minimum-size rule applies equally to both the €800,000 Zone A and the €400,000 Zone B. The only tier exempt from it is the €250,000 Zone C route (commercial-to-residential conversion or restoration of a listed historic building). Overlooking this distinction can lead to the rejection of applications by people who invest €400,000 and choose a small property.

2. Is the €250,000 tier valid everywhere?
Yes — the €250,000 Zone C route applies across Greece regardless of geography, including the Athens Riviera, central Piraeus or luxury islands. But the condition of this route is that the property has been converted from a commercial/industrial building into a home, or that a listed historic building has been restored; buying a standard residential unit for €250,000 does not satisfy this route. The change of use must also have been officially completed before the application.

3. Why don't the ads mention the short-term rental ban?
Because marketing materials, by their nature, tend to highlight the most attractive information (low entry price, prestigious location) and skip the restrictive details. But the short-term rental ban is a rule that directly affects how Golden Visa properties can be used and cannot be ignored. Violations lead to cancellation of the residence permit and fines of €50,000-150,000; so when making an investment decision you need to factor in from the start how this restriction affects your rental-income expectations.

4. Is the list of 'example areas' in Zone A (Athens, Thessaloniki, Mykonos, Santorini) complete?
No — those four are just the best-known locations. Zone A is much broader: the whole of the Attica region, the whole of the Thessaloniki Regional Unit and every Greek island with a population above 3,100 (more than 30 islands including Crete, Rhodes, Corfu, Paros, Naxos, Samos, Lesbos, Chios, Zakynthos and Kefalonia). An island or area not being explicitly named on this list does not automatically mean it is in the €400,000 tier; the population data must be verified before purchase.

5. Can I rely on these ads and invest directly?
Such promotional materials can be useful for introducing the programme in broad strokes, but they are no substitute for independent legal advice. Ads usually highlight the property price while leaving critical details incomplete or vague: the scope of the 120 m² rule, the short-term rental ban, the total additional costs (8-10%) and the technical requirements of the conversion route. Before any investment decision, having a lawyer versed in current legislation confirm every condition of the property and the route is strongly recommended.

Note: The information in this article is based on general legislation and may change according to current Ministry decisions. Contact us to verify the accuracy of information in any listing or ad you see and to clarify the tier and route that suit you — we are with you from the start to the end of the Golden Visa process.