How to Choose a Property for the Golden Visa: A Practical Guide

Choosing the right property is the most critical step in the Golden Visa. It is not enough for it simply to meet the financial threshold — it must serve your long-term goals, whether those are financial or personal.

1. Location: the most critical element

Since 2024, Greece divides its regions into zones with different minimum investment thresholds. High-value zones (e.g., the southern suburbs of Athens, central Athens, Thessaloniki, Mykonos, Santorini) require a higher investment than areas of lower demand.

The right strategy depends on your goals — maximum rental yield, long-term appreciation, or use as a second home.

2. New construction vs older property

New construction:

• Modern specifications, zero renovation costs
• Higher energy class — lower running costs
• Builder's warranty for a specified period of time
• Option for delivery according to your personal choice of materials

Older property:

• Potentially lower price per square meter
• Often a better location in established areas
• Care is required on legal and technical matters (unauthorized constructions, encumbrances)
• Possible renovation costs that must be factored into your calculations

3. Rental potential

If your goal is passive income, consider:

• Long-term rental: Stable income, low management effort. Typical yield of 3-5% per year.
• Short-term rental: Higher gross yield, but also higher costs and more management. Restrictions apply in certain areas.

4. Legal and technical due diligence

Before signing, the following checks are carried out:

• Title search for encumbrances, mortgages, third-party rights
• Technical inspection for unauthorized constructions
• Urban planning compliance check
• Confirmation that the property meets the Golden Visa criteria

5. Partners

Choosing the right partners is critical:

• Lawyer specializing in real estate and foreign clients
• Notary
• Engineer for technical inspections
• Accountant for tax planning
• Development company or real estate broker with proven Golden Visa experience

6. Investment horizon

Think now about what you intend to do in 5, 10, or 15 years. Will you keep the property for appreciation? Will you sell it? Will you use it as a second home? The answer significantly affects your choice of location and property type.

Our experience

At Residences, we have supported the property selection of a large number of Golden Visa investors. We combine the roles of development company and investment advisor — we know both the product and the process. Contact us to discuss your own case.

The content of this article is for informational purposes and does not substitute for specialized legal, tax, or investment advice. Regulations may change — confirm with the competent authorities before making an investment decision.