Real Estate Investment on the Greek Islands for a Golden Visa: Legal Requirements, Thresholds and Risks in 2026

Introduction

A Greek Islands Golden Visa property investment may provide an attractive opportunity for non-European Union nationals seeking a renewable residence permit together with ownership of real estate in Greece. Islands such as Crete, Rhodes, Corfu, Mykonos, Santorini, Paros, Naxos and Kos attract international buyers for residential, retirement and investment purposes.

However, the legal rules governing Golden Visa investments on Greek islands have changed substantially. The previous assumption that every property worth €250,000 could support a Golden Visa application is no longer correct.

Under the current framework, the standard minimum real estate investment on many Greek islands is €800,000. The higher threshold applies to the Regional Units of Mykonos and Thira, islands with a resident population exceeding 3,100 according to the most recent census, and island properties falling within another expressly designated high-threshold region, such as the Region of Attica. The minimum investment in other areas is generally €400,000. Special €250,000 routes remain available for qualifying change-of-use properties and listed buildings.

The geographical rule is only the first stage of the legal analysis. A standard €400,000 or €800,000 investment must generally concern a single property and, in the case of developed residential property, must generally satisfy the statutory 120-square-metre requirement. Properties acquired under the revised real estate framework are also subject to restrictions on short-term rental use.

Island transactions may present additional legal risks concerning cadastral registration, coastal boundaries, forest classifications, archaeological protection, unauthorised construction, access rights, shared ownership and the lawful use of tourism-related property. Independent legal and technical due diligence should therefore be completed before the investor pays a non-refundable deposit or signs a binding purchase agreement.

This article explains the applicable investment thresholds, the islands generally falling within the €800,000 and €400,000 categories, the €250,000 exceptions, the purchase and residence permit procedure, taxation, renewal conditions and the principal legal risks connected with Greek island property.

Legal Framework of the Greece Golden Visa

The Greek Golden Visa is regulated principally by the Greek Migration Code under Law 5038/2023. The current real estate rules were materially amended by Article 64 of Law 5100/2024.

Law 5038/2023 entered into force on 31 March 2024. The subsequent amendments reorganised the real estate investment thresholds and introduced separate rules for high-demand regions, ordinary regional investments, commercial-to-residential conversions and listed buildings.

A qualifying investor residence permit is generally issued for five years. Current official administrative procedures also confirm that property-based investor residence permits do not automatically grant access to employment.

The Golden Visa should therefore be understood as a residence-by-investment permit rather than:

• A citizenship-by-investment program;
• An automatic Greek passport;
• An unrestricted European work permit;
• A guarantee of Greek naturalisation;
• A guarantee that the property will produce rental income;
• A government guarantee of the property’s commercial value.

Golden Visa eligibility and investment profitability are separate issues. A property may qualify for immigration purposes but still represent a poor commercial investment. Conversely, an attractive island property may fail to meet the statutory Golden Visa conditions.

Greece Golden Visa Thresholds on the Greek Islands

The standard minimum investment amount depends primarily on the island’s legal and demographic classification.

The €800,000 Threshold

The €800,000 threshold applies to:

• The Regional Units of Mykonos and Thira;
• Islands with populations exceeding 3,100 residents according to the most recent census;
• Properties situated within the Region of Attica, including islands administratively forming part of Attica;
• Euboea, which is expressly treated as an island for this purpose.

The official administrative guidance states that the threshold is €800,000 for Attica, the Regional Unit of Thessaloniki, the Regional Units of Mykonos and Thira, and islands with more than 3,100 residents. It expressly confirms that Euboea falls within the €800,000 category.

The €400,000 Threshold

The standard minimum is generally €400,000 in areas not included in the €800,000 category. In the context of Greek islands, this means that a smaller island may potentially fall under the €400,000 threshold where:

1. Its official resident population does not exceed 3,100;
2. It is not situated within the Region of Attica;
3. It does not form part of the Regional Unit of Mykonos;
4. It does not form part of the Regional Unit of Thira;
5. No other statutory geographical rule places the property within the €800,000 category.

This conclusion follows from the official rule providing an €800,000 threshold for the designated regions and qualifying larger islands, and a €400,000 threshold in the remaining areas of Greece. Property-specific verification is nevertheless required.

Special €250,000 Threshold

A qualifying island property may still support a Golden Visa with an investment of €250,000 where it falls within one of the following special categories:

• Commercial or other non-residential property lawfully converted into residential use;
• A listed or protected building requiring restoration or reconstruction.

These exceptions may apply even where the property is situated on an island ordinarily subject to the €800,000 threshold. However, the property must satisfy the separate statutory requirements of the relevant exception.

Which Greek Islands Are Generally Subject to the €800,000 Threshold?

The most recent official population reference is the 2021 Population and Housing Census conducted by the Hellenic Statistical Authority, ELSTAT. The census measures resident population at regional, municipal, community and settlement levels.

ELSTAT’s April–June 2026 publication lists the most populated Greek islands using 2021 census figures. The following islands shown in that official table all exceed 3,100 residents and therefore generally fall within the €800,000 standard threshold:

• Crete;
• Euboea;
• Rhodes;
• Corfu;
• Lesvos;
• Chios;
• Zakynthos;
• Salamina;
• Kos;
• Kefalonia;
• Samos;
• Lefkada;
• Syros;
• Naxos;
• Kalymnos;
• Limnos;
• Thira;
• Paros;
• Thassos;
• Aegina;
• Mykonos;
• Tinos;
• Ikaria;
• Andros;
• Leros;
• Karpathos;
• Skiathos;
• Milos;
• Skopelos;
• Spetses.

The official figures range from more than 624,000 residents in Crete to more than 3,700 in Spetses.

This list should not be treated as an exhaustive legal classification of every Greek island. ELSTAT also notes that, where a municipality encompasses more than one island, a published population figure may represent the combined population of all islands belonging to that municipality. A legal assessment should therefore consider both the island’s population and its precise administrative classification.

Crete Golden Visa Property Investments

Crete is clearly within the €800,000 category because its resident population substantially exceeds the statutory limit.

The rule applies to the island as a whole. It is not limited to Heraklion, Chania, Rethymno, Agios Nikolaos or recognised tourism destinations.

Accordingly, an ordinary residential property in a rural village or remote coastal area of Crete does not fall within the €400,000 category merely because local property values are lower than those in Chania or Heraklion. The population test concerns the island rather than the commercial value of the particular municipality.

For a standard Crete Golden Visa acquisition, the investor should therefore plan for:

• A minimum eligible property value of €800,000;
• A single qualifying property;
• At least 120 square metres of qualifying main-use space;
• Compliance with the prohibition on short-term rental use;
• Proper title, planning and cadastral documentation.

Rhodes, Corfu, Kos and Other Major Tourism Islands

Rhodes, Corfu, Kos, Zakynthos, Kefalonia and Samos all have populations above 3,100 and are therefore generally subject to the €800,000 threshold.

The threshold applies regardless of whether the property is located:

• In an island capital;
• In a major resort;
• In a small inland settlement;
• On agricultural land;
• In a remote coastal village;
• In a less commercially developed municipality.

The statutory Golden Visa threshold is not a valuation statement. A property may have a market value of €300,000 or €500,000 but still be located on an island where a standard Golden Visa acquisition requires €800,000.

Investors should therefore distinguish between the market price of the property and the minimum investment necessary for residence permit eligibility.

Mykonos and Santorini Investments

Mykonos and Santorini are specifically associated with the €800,000 threshold. The official rule, however, is drafted by reference to the Regional Units of Mykonos and Thira, rather than only particular towns or tourist districts.

This administrative wording is important. A property should not be classified solely by using the island name shown in marketing materials. The title deed and cadastral documentation must be reviewed to determine the regional unit and municipality in which the property is legally situated.

An investor should also be cautious where a developer offers several hotel units, villas or suites as one “Golden Visa package.” The legal identity of each unit must be reviewed. Several commercially connected units may remain separate properties for title and cadastral purposes.

Islands Administratively Belonging to Attica

The Region of Attica is an €800,000 zone. Accordingly, an island that legally forms part of Attica may be subject to the €800,000 threshold regardless of whether its individual population is below 3,100.

This result arises because the geographical rule applies to the Region of Attica itself, in addition to the separate population rule for islands.

Investors should therefore avoid assuming that every small island automatically qualifies for the €400,000 threshold. The lawyer must verify:

• The region;
• The regional unit;
• The municipality;
• The official island population;
• The cadastral location of the property.

A population-based analysis without an administrative-boundary analysis may produce an incorrect conclusion.

Euboea Golden Visa Investments

Euboea, also known as Evia, is specifically treated as an island under the current official Golden Visa guidance. Its standard threshold is therefore €800,000.

The existence of road bridges connecting Euboea to mainland Greece does not change its classification for Golden Visa purposes.

A buyer should not rely on a seller’s claim that a property is subject to the mainland €400,000 rule because it can be reached by road. The official classification takes precedence over physical accessibility.

When Can a Smaller Island Qualify at €400,000?

A smaller island may potentially qualify under the €400,000 route where it is outside all specifically designated €800,000 areas and its resident population does not exceed 3,100.

However, the following information should be confirmed before the investor pays a deposit:

• The relevant ELSTAT population figure;
• Whether that figure relates to the individual island or a multi-island municipality;
• The island’s region and regional unit;
• Whether the property is legally part of Attica;
• Whether the island belongs to the Regional Unit of Mykonos or Thira;
• Whether an updated census or administrative decision affects the classification.

The €400,000 threshold is a residual category. It applies only after the lawyer has excluded the €800,000 conditions.

A reservation agreement for property on a smaller island should include a condition stating that the transaction may be terminated and the deposit returned if the property does not qualify under the intended Golden Visa category.

The Single-Property Requirement

Standard €400,000 and €800,000 Golden Visa investments generally require the qualifying investment to concern one property.

The investor should not assume that it is possible to combine:

• Two villas;
• Several small apartments;
• Separate hotel rooms;
• Multiple tourism residences;
• Independent plots of land;
• Separate parking and storage units.

The question is not whether the assets are sold together. The question is whether they legally constitute one property.

A development may be marketed under a single project name while containing multiple independent horizontal or vertical ownership units. Each unit may have a separate title deed and cadastral identification number.

The lawyer should review:

• The acquisition title;
• Horizontal or vertical ownership deeds;
• Cadastral identification numbers;
• Co-ownership percentages;
• Appurtenant areas;
• Building regulations;
• Whether several units have been legally merged.

A statement in a brochure that several units form one investment package is not sufficient.

The 120-Square-Metre Requirement

Standard residential property acquired under the €400,000 or €800,000 route must generally contain at least 120 square metres.

Enterprise Greece confirms both the 120-square-metre requirement and the prohibition on using Golden Visa residential property for short-term rentals.

The legally relevant surface area may differ from the area stated in an advertisement.

A seller may include the following within the advertised size:

• Terraces;
• Balconies;
• Parking areas;
• Storage rooms;
• Basements;
• Swimming-pool areas;
• Common spaces;
• Pergolas;
• Unauthorised extensions;
• Auxiliary buildings.

An engineer should determine how much of the property is legally registered as qualifying main-use space.

The engineer should compare:

• The building permit;
• Approved architectural plans;
• The Electronic Building Identity;
• The title deed;
• Cadastral records;
• Planning regularisation documents;
• The actual physical condition of the property.

A villa advertised as 150 square metres may fail the requirement if a significant part consists of unauthorised or auxiliary areas.

Purchasing Land and Building a Villa

Some investors consider purchasing an undeveloped island plot and constructing a residence.

Such a transaction requires a more detailed analysis than the purchase of a completed home. The investor should not assume that every plot described as “buildable” can legally support the intended villa.

Before purchasing land, the legal and technical team should examine:

• Ownership boundaries;
• Cadastral registration;
• Road access;
• Building coefficient;
• Minimum plot-size rules;
• Coastal restrictions;
• Forest-map classification;
• Archaeological restrictions;
• Protected landscape status;
• Utility access;
• Building permit eligibility;
• Construction budget and completion conditions.

The official Ministry guidance recognises that land acquisition combined with a lawful construction or restoration agreement may form part of the supporting documentation for an investor permit. Planning permission and contractor invoices may be required.

The purchase price of the land alone should not automatically be assumed to satisfy the qualifying investment. The legal structure, construction contract, permitted development and documented payments must be assessed together.

The €250,000 Change-of-Use Route on Greek Islands

A property on a Greek island may qualify at the €250,000 threshold where its main spaces are lawfully converted from commercial or another non-residential use into residential use.

The official administrative procedure requires:

• Full ownership and possession;
• A minimum acquisition value of €250,000;
• One qualifying property;
• Completion of the legal change of use before the Golden Visa application;
• Technical certification by an engineer.

The 120-square-metre requirement does not apply to this special category.

Potential island conversion properties may include:

• Former shops;
• Offices;
• Warehouses;
• Professional premises;
• Industrial buildings;
• Former commercial accommodation;
• Other lawfully non-residential spaces.

Physical renovation is not enough. A property does not become legally residential merely because a developer installs a kitchen and bedroom.

The official procedure requires the change of use to have been completed after 5 April 2024 and before the residence permit application. Earlier permits may require a later update or revision.

Where the property concerns an industrial building, it must also be certified that no industrial activity has operated there for at least five years.

The €250,000 Listed-Building Route

A listed or protected building on a Greek island may also qualify at the €250,000 threshold.

The investor must acquire property consisting of:

• A listed building;
• Part of a listed building;
• Property containing a listed building;
• A structure legally required to be restored or reconstructed.

The property must have an official listed designation. An old stone house, traditional villa or historic-looking building does not qualify merely because of its age or architectural style.

The notarial documentation must identify the official act or Government Gazette reference confirming the protected status.

Listed island properties may involve substantial additional costs, including:

• Structural reinforcement;
• Façade preservation;
• Specialist architectural studies;
• Traditional building materials;
• Archaeological supervision;
• Heritage approvals;
• Restoration deadlines;
• Restrictions on demolition and alteration.

The investor should obtain a detailed technical and financial assessment before purchasing. The €250,000 threshold is the qualifying acquisition amount, not necessarily the final cost of restoring the property.

Short-Term Rental Restrictions

Residential property acquired under the revised Golden Visa framework may not be used for short-term rental activity.

This restriction is particularly important on Greek islands, where buyers may expect to generate seasonal revenue through Airbnb-style accommodation. Enterprise Greece expressly confirms that the new rules prohibit short-term rental use of Golden Visa residential property.

The investor should not rely on rental projections based on:

• Daily holiday rentals;
• Weekly villa rentals;
• Seasonal platform bookings;
• Informal tourist accommodation;
• Subleasing through a management company.

A contractual arrangement with a property manager does not override the immigration restriction.

Lawful long-term leasing may potentially remain possible, subject to the property’s authorised use, the relevant Golden Visa category, tenancy legislation, tax compliance and condominium rules. The proposed rental model should be reviewed before the property is purchased.

Timeshare and Tourist Accommodation Investments

Greek law also recognises certain qualifying timeshare and long-term tourist accommodation agreements.

The agreement must generally have a minimum duration of five years. For tourist accommodation in the designated high-threshold locations and on islands with more than 3,100 residents, the minimum value is €800,000. In other regions, the minimum is €400,000.

This route should not be confused with:

• Purchasing an ordinary hotel room;
• Booking accommodation for several years;
• Buying shares in a hotel company;
• Entering into an informal management agreement;
• Purchasing usage points in an unregulated vacation scheme.

The contract must satisfy the legally recognised timeshare or tourist accommodation framework. The official process requires, among other matters, a qualifying agreement, registration with the Land Registry or Cadastre and confirmation from the Greek National Tourism Organisation.

Island-Specific Legal Due Diligence

A Greek island property transaction should not be completed solely on the basis of a title deed and sales brochure.

Title and Ownership

The lawyer should confirm:

• The seller’s identity;
• The seller’s authority to transfer;
• The chain of title;
• Mortgages and seizures;
• Inheritance claims;
• Co-ownership rights;
• Easements;
• Court proceedings;
• Cadastral registration;
• Exact boundaries.

Island property may have passed through several generations without a clear physical division among heirs. A seller who occupies a villa may not necessarily own the entire property.

Road and Access Rights

Some island properties can be reached only by crossing neighbouring land or using an informal road.

The investor should verify whether access is:

• Public;
• Legally registered;
• Based on an easement;
• Dependent on a private agreement;
• Sufficient for construction and emergency access.

A beautiful remote property with no lawful road access may create significant development, financing and resale problems.

Planning and Building Compliance

A Greek engineer should examine:

• The original building permit;
• Approved floor plans;
• Building use;
• Unauthorised extensions;
• Swimming pools;
• Guest houses;
• Storage buildings;
• Retaining walls;
• Enclosed terraces;
• Basement conversions;
• Electronic Building Identity.

Island villas are frequently marketed by reference to their physical size rather than their legally authorised size. Golden Visa eligibility should be based on lawful documentation.

Coastal and Environmental Issues

A property near the sea should be reviewed for issues affecting:

• Shoreline boundaries;
• Beach zones;
• Protected landscapes;
• Natura areas;
• Forest classifications;
• Erosion;
• Public-access obligations;
• Construction limitations.

A sea view or direct beach access stated in an advertisement does not prove the existence of private ownership rights over the shoreline.

Archaeological and Heritage Restrictions

Many Greek islands contain archaeological zones, historic settlements and protected architectural areas.

An investor planning renovation or construction should determine whether approval is required from:

• Archaeological authorities;
• Heritage authorities;
• Architectural councils;
• Local planning bodies;
• Environmental authorities.

The time and cost required for approvals should be included in the investment plan.

Water, Electricity and Waste Systems

Properties on smaller islands may have limited utility infrastructure.

The technical investigation should address:

• Electricity connection;
• Water supply;
• Water-storage systems;
• Sewage or septic systems;
• Legal utility meters;
• Internet availability;
• Access for repair and maintenance.

These matters may not directly determine Golden Visa eligibility, but they affect habitability, rental value and resale potential.

Legal Process for Purchasing an Island Property

Step 1: Confirm the Applicable Threshold

The lawyer should determine whether the property falls under:

• The €800,000 standard route;
• The €400,000 standard route;
• The €250,000 change-of-use route;
• The €250,000 listed-building route;
• A timeshare or tourist accommodation route.

A written classification should be obtained before payment of a non-refundable deposit.

Step 2: Appoint Independent Greek Counsel

The investor should appoint a lawyer who is independent from the seller, developer and estate agent.

The lawyer may coordinate:

• Immigration eligibility;
• Title review;
• Reservation agreements;
• Tax registration;
• Notarial completion;
• Payment documentation;
• Cadastral registration;
• Residence permit filing;
• Renewal planning.

Step 3: Appoint an Engineer

The engineer should confirm:

• Lawful construction;
• Qualifying surface area;
• Authorised property use;
• Building-permit compliance;
• Change-of-use documents;
• Listed-building status;
• Construction feasibility.

Step 4: Conduct Source-of-Funds Review

The investor should prepare documents explaining the lawful origin of the investment capital.

These may include:

• Bank statements;
• Tax declarations;
• Employment income records;
• Company accounts;
• Dividend documents;
• Property sale agreements;
• Inheritance documents;
• Loan agreements.

Official procedures require the investment amount to be paid through authorised and traceable methods, including qualifying bank transfers, crossed bank cheques or approved card payments. Certain payments may also be made by a spouse or relatives up to the second degree.

Step 5: Sign a Conditional Reservation Agreement

The reservation agreement should state:

• The exact property;
• The intended Golden Visa category;
• The minimum investment threshold;
• The due-diligence period;
• The deposit amount;
• Whether the deposit is refundable;
• The seller’s representations;
• The investor’s termination rights;
• The consequences of Golden Visa ineligibility.

The agreement should not merely state that the property is “Golden Visa approved.”

Step 6: Complete the Notarial Transfer

Greek real estate ownership is transferred through a notarial deed.

The notary’s documentation should accurately record:

• The parties;
• The property;
• The consideration;
• The payment method;
• Payment completion;
• Relevant conditions;
• Whether the property has previously supported another Golden Visa application.

Official procedures require a notarial certificate containing detailed information concerning the property, parties and payment.

Step 7: Register the Deed

The purchase deed must be registered with the competent Land Registry or Hellenic Cadastre.

Proof of registration, submission for registration or an appropriate lawyer’s certificate forms part of the official documentation required under the current investor-permit procedures.

Step 8: Submit the Residence Permit Application

Current Golden Visa applications are submitted through the electronic services of the Greek Ministry of Migration and Asylum.

A qualifying applicant may also submit through a properly authorised proxy. Where a foreign power of attorney is used, it may require a Hague Apostille or consular legalisation.

The application file generally requires:

• Valid passport or travel document;
• Evidence of lawful entry or relevant residence status;
• Private health insurance;
• Purchase or qualifying investment documents;
• Notarial certificate;
• Land Registry or Cadastre evidence;
• Payment evidence;
• Government fee receipts;
• Photograph and biometric documentation;
• Special technical documents where applicable.

Step 9: Provide Biometric Data

The applicant must complete biometric enrolment before the residence card can be issued.

Official procedures contemplate examination of the application together with the applicant’s biometric data before the final residence permit decision.

Government Fees and Processing Time

Current official procedures identify:

• A €2,000 residence permit fee;
• A €16 electronic residence card production fee.

The official estimated processing time for the recently published change-of-use, listed-building and timeshare procedures is approximately 50 to 60 days. These periods are administrative estimates rather than guaranteed completion dates.

Delays may occur where:

• The property classification is unclear;
• Documents are missing;
• Cadastral registration is pending;
• The engineer’s report is insufficient;
• Payment details are inconsistent;
• Security checks remain pending;
• Biometric appointments are unavailable.

Property Transfer Tax and Annual Taxation

The purchaser is generally responsible for Greek real estate transfer tax.

The standard rate is 3% of the property’s taxable value. The principal transfer tax is also subject to a municipal levy calculated at 3% of the main tax. The tax return and payment must generally be completed before execution of the transfer contract.

Foreign property owners are also required to ensure that their property is correctly reported through the E9 real estate statement. The annual ENFIA property tax is calculated by reference to Greek property held on 1 January of each year.

The investor should additionally budget for:

• Notary fees;
• Legal fees;
• Engineer fees;
• Cadastre or Land Registry charges;
• Translation and apostille expenses;
• Real estate commission;
• Insurance;
• Renovation;
• Property management;
• Common expenses;
• Accounting and tax compliance.

The Golden Visa threshold is not the total cost of the transaction.

Residence Rights, Schengen Travel and Employment

A Greek residence permit allows the holder to reside in Greece during its validity.

A residence permit issued by a Schengen state also generally permits short stays in other Schengen states for up to 90 days within a 180-day period. It does not provide an unrestricted right to settle or work in another Schengen country.

The Greek property-investor permit does not itself grant access to salaried employment. This restriction is expressly stated in the current official investor procedures.

Renewal and Sale of the Property

The property-based permit is generally valid for five years.

Renewal normally requires the qualifying property to remain under the investor’s ownership and possession or the relevant qualifying lease to remain in force.

The current procedures for change-of-use and listed-building investments state that resale during the validity of the permit results in revocation of the selling investor’s residence permit.

An investor planning to sell, transfer, donate or restructure ownership should obtain immigration advice before signing the relevant agreement.

Principal Legal Risks

The most common risks in Greek island Golden Visa transactions include:

Applying the Wrong Threshold

A buyer may assume that a small village or inexpensive island district qualifies at €400,000 even though the entire island is subject to €800,000.

Relying on an Unverified Population Figure

Unofficial websites may use registered population, seasonal population or outdated census data rather than the legally relevant resident population.

Ignoring Administrative Boundaries

A small island may form part of Attica or a specifically designated regional unit and therefore fall within the higher threshold.

Combining Separate Properties

Several villas, apartments or hotel units may not satisfy the single-property condition.

Miscalculating the 120-Square-Metre Area

Advertised surface area may include auxiliary or unauthorised spaces.

Purchasing Unlawful Construction

Sea-view villas may contain extensions, swimming pools or guest houses not shown in the approved plans.

Accepting an Incomplete Change of Use

A commercially renovated property may remain legally non-residential.

Assuming an Old Building Is Listed

A traditional-looking house does not qualify under the €250,000 listed-building route without a formal protected designation.

Planning to Use Airbnb

Short-term rental use is prohibited under the revised Golden Visa real estate rules.

Relying on Guaranteed Returns

Rental and buyback guarantees are private contractual obligations. They are not guarantees issued by the Greek state.

Failing to Verify Access and Boundaries

A remote property may lack registered road access or may occupy land outside the seller’s legal title.

Frequently Asked Questions

What is the Golden Visa investment threshold on Greek islands?

The standard threshold is generally €800,000 on islands with more than 3,100 residents, in the Regional Units of Mykonos and Thira, in Attica and in Euboea. Other qualifying areas may fall under the €400,000 threshold.

Is Crete subject to the €800,000 threshold?

Yes. Crete’s population significantly exceeds 3,100, so the standard threshold is €800,000 throughout the island.

Is Rhodes subject to the €800,000 threshold?

Yes. Rhodes has more than 3,100 residents and therefore falls within the higher standard threshold.

Is Corfu subject to the €800,000 threshold?

Yes. Corfu’s official resident population exceeds the statutory limit.

Can a small Greek island qualify at €400,000?

Potentially. It must be outside the specifically designated €800,000 regions and have no more than 3,100 residents under the relevant official census classification.

Does Mykonos require an €800,000 investment?

Yes. The Regional Unit of Mykonos is expressly covered by the €800,000 threshold.

Does Santorini require an €800,000 investment?

Yes. The Regional Unit of Thira is expressly covered by the €800,000 threshold.

Can I buy two properties to reach the required amount?

The standard €400,000 and €800,000 routes generally require one qualifying property.

Does the property have to be 120 square metres?

Standard residential property under the €400,000 and €800,000 routes generally must have at least 120 square metres of qualifying space.

Can I obtain a Golden Visa with a €250,000 island property?

Potentially, where the property is a qualifying commercial-to-residential conversion or a formally listed building.

Can I rent my island property through Airbnb?

Residential property acquired under the revised Golden Visa rules may not be used for short-term rentals.

How long is the permit valid?

The property-based investor residence permit is generally valid for five years.

Can I work in Greece with the Golden Visa?

The property-investor permit does not itself provide access to employment.

Does buying an eligible property guarantee approval?

No. The property, payment method, investor, insurance, security checks and supporting documents must all comply with the immigration requirements.

Conclusion

A Greek Islands Golden Visa property investment requires careful analysis of geography, population, property structure and lawful use.

The standard €800,000 threshold generally applies to:

• Mykonos and the Regional Unit of Mykonos;
• Santorini and the Regional Unit of Thira;
• Islands with populations exceeding 3,100;
• Islands situated within the Region of Attica;
• Euboea.

The €400,000 threshold may apply to smaller islands outside the designated high-threshold regions. However, the island’s population and administrative classification must be independently verified.

Standard €400,000 and €800,000 investments generally require one property containing at least 120 square metres of qualifying main-use space. Residential Golden Visa properties are subject to a prohibition on short-term rental use.

Special €250,000 opportunities remain available for lawful commercial-to-residential conversions and formally listed buildings. These routes may reduce the acquisition threshold but increase the importance of planning, technical and contractual due diligence.

Before paying a deposit, the investor should obtain:

• A written Golden Visa eligibility assessment;
• Confirmation of the applicable regional threshold;
• An official population and administrative classification review;
• A complete title and cadastral investigation;
• An engineer’s planning and surface-area report;
• Confirmation of lawful access and property boundaries;
• A source-of-funds assessment;
• A tax and total-cost calculation;
• A carefully drafted conditional purchase agreement.

The visual appeal of a Greek island property should never replace legal due diligence. A professionally structured acquisition may support a renewable residence permit and a secure long-term investment. An incorrectly classified or legally defective property may leave the buyer with substantial financial exposure and no valid basis for the intended Golden Visa.

Last updated: August 2026.

This article is prepared for general legal information and SEO publication purposes. It does not constitute individual immigration, property, tax or investment advice. The eligibility of every applicant and property must be assessed under the legislation and administrative practice applicable at the time of the transaction.