€250K Real Estate
A special statutory route — not the general property minimum — for qualifying conversion or listed-building restoration anywhere in Greece. Tied to the specific property, with its own legal and timing conditions (see below).
Official sources for this page: Hellenic Republic / National Printing House; Hellenic Republic / National Printing House. Law 5038/2023 — Migration Code · Law 5100/2024, Article 64 — replacement of Article 100
When Does the €250K Threshold Apply?
The €250,000 threshold is a special exception to the standard €400,000/€800,000 thresholds. It applies in three specific scenarios, regardless of location, and the statutory 120 sqm main-space requirement that applies to the standard routes does not apply here.
1. Commercial-to-Residential Conversion: Properties whose main use is being converted from commercial (industrial, office, retail, etc.) to residential use qualify at €250,000 across the whole of Greece, with no minimum surface area. The change of use must be completed before submitting the residence-permit application, in line with the statutory timing clarified for changes after 5 April 2024.
2. Industrial Building Conversion: A property consisting of an industrial building may also qualify at €250,000, provided no industrial activity has been established or operated there for at least five years, with the same completion-before-application timing.
3. Listed/Heritage Building Restoration: Buildings with historical or architectural significance that are being restored also qualify at the €250,000 threshold, regardless of location. Any transfer of the property before restoration/reconstruction is completed is void, and completion is also required for the first renewal of the residence permit.
The special €250,000 eligibility is tied to the qualifying property and the statutory conditions above — it is not a reusable entitlement that automatically passes to successive buyers of the same property. Obtain case-specific legal confirmation before relying on this route.
Key Features
- Commercial or qualifying industrial building to residential conversion
- Listed/heritage building restoration
- Whole country, no minimum area
- Change of use completed before applying (per statutory timing after 5 April 2024)
Risks and what to check
Every application is assessed on its own facts, and approval is not guaranteed. Read the points below before committing funds — they describe what can go wrong on this route, not what we expect to happen.
- Qualifying at this tier depends on the property meeting the conversion or restoration conditions — confirm that in writing before you commit to anything.
- Conversion and restoration work carries completion, cost-overrun and timing risk that a finished property does not.
- Property values can fall as well as rise, and a resale may take longer than expected.
- Thresholds and programme terms are set by Greek law and can change; a route open today may not be open on the same terms later.
Before you commit
- Commission independent legal checks on title, encumbrances and planning status before any payment.
- Obtain written confirmation that the specific property qualifies at this tier.
- Get an independent valuation and survey, and for works a costed scope and schedule.
- Ask for the full cost picture — purchase taxes, professional fees, works, holding costs — before you commit.
This is general information, not legal, tax or investment advice. Take independent advice from advisers qualified in Greece and in your own country of residence before making any commitment.
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