Greek Property Hotspots

The latest market insight from international property consultancy, Astons, highlights the Greek property hotspots where investors are most likely to find real estate that meets the value threshold required to qualify for residency through investment (RBI), also known as the Golden Visa.

Greece's Golden Visa programme has long been a key route for non-EU investors seeking residency in the European Union. The scheme grants a five-year renewable residence permit to individuals, and their families, who invest in qualifying Greek real estate. However, recent changes to the programme have introduced tiered investment thresholds based on location, creating distinct opportunities across the country

In its current form, the Golden Visa requires a minimum property investment of €800,000 in areas considered economically mature or under increased demand. This includes central municipalities of Athens, Thessaloniki, as well as islands such as Mykonos and Santorini. For all other areas, the threshold is set at €400,000 for residential property.

Astons' analysis of current residential property listings across Greece reveals where investors are most likely to find homes that meet these qualifying values.

The €800,000 threshold

Across all of Greece, just 12.1% of properties currently on the market have a value of more than €800,000. However, in some specific locations, this proportion is far greater.

The island of Mykonos offers far and away the best chance of securing a qualifying property. Nearly 75% of all residential listings on the island meet or exceed the required investment value, making it the most accessible market for high-end investors.

Santorini follows with 31.1% of listings qualifying, while Corfu (25.2%), Athens (17.4%), and Kefalonia (16.8%) offer a more limited pool of eligible properties.

Meanwhile, markets such as Crete (14.7%), Rhodes (12.9%), and Thessaloniki (2.7%) show relatively lower proportions of qualifying listings, reflecting the fact that while these areas are incredibly popular among investors, they continue to have a much broader affordability.

The €400,000 threshold

Among the regions where the €400,000 threshold applies, Kalamata in the Southern Greek peninsula of Peloponnese stands out as offering the greatest investment potential, with 25.8% of listings meeting the region's minimum investment value.

This is followed by Ioannina (10.9%), Patras (5.6%), and Larissa (4.1%).

The €250,000 alternative

However, for investors who aren't in a position to spend upwards of €800,000, there remains a far more accessible route to Greek residency that is increasingly being explored by international buyers.

By purchasing commercial property that is then converted into residential use, the minimum investment required drops to just €250,000, regardless of location. This presents a significant opportunity, particularly for those who are otherwise priced out of residential listings in premium areas.

Further good news comes in the form that of the 48,857 commercial property listings currently available across Greece, more than 56% are priced above the €250,000 threshold. This pathway not only opens the door to residency at a lower price point but also provides vast scope for value-add investment through renovation or conversion.

Suzanna Uzakova, Senior Consultant for Residency and Citizenship Programmes at Astons, commented:

"The recent revisions to Greece's Golden Visa thresholds have certainly added complexity to the market, but they have also created fresh opportunities for strategic investors. Our latest analysis shows that while high-value residential properties in areas like Mykonos and Santorini are relatively accessible for those with larger budgets, other regions now present more of a challenge in meeting the new criteria, particularly at the €800,000 level.

However, what many investors may not yet realise is that there are still highly viable routes into the Golden Visa programme that require significantly lower capital outlay. The commercial-to-residential conversion option is an increasingly attractive path, allowing entry at just €250,000, a figure that opens the door to a broad pool of properties even in the most high demand areas.

With over half of Greece's commercial listings already meeting this threshold, the scope for smart, flexible investment is considerable.

In today's market, success is about understanding not just the rules, but also the nuances. Investors who take the time to explore these alternative avenues - and who are guided by the right expertise - can access the lifestyle, security and long-term value that residency in Greece offers. Whether it's a luxury home on the islands or a conversion project in a rising mainland city, the Golden Visa remains one of the most compelling residency-by-investment programmes in Europe.