Why there is still a €250,000 threshold
In April 2024 Greece raised the property thresholds to €800,000 in the high-demand areas and €400,000 elsewhere, each with a minimum of 120 m² of main areas. It kept €250,000 for two categories that add housing rather than compete for it: buildings changed from another use into homes, and listed buildings brought back into use.
The lower amount is a policy choice about the kind of property, not a discount. The price is still the full price recorded in the deed, paid in full before you apply.
The two routes side by side
| Converted property | Listed building | |
|---|---|---|
| What it is | Main areas changed from another use, such as an office, shop or warehouse, into residential use | A building listed for preservation, restored |
| Where | Anywhere in Greece | Anywhere in Greece |
| Minimum size | None | None |
| Key timing | The permitting act issued on or after April 5, 2024; the conversion completed before you apply | The restoration completed before your first renewal |
| Who converts or restores | The seller or the buyer | The buyer or the seller |
| Legal basis | Law 5038/2023, art. 100 §2(c) | Law 5038/2023, art. 100 §2(d) |
The conversion route in detail
A property qualifies on this route when its main areas change from a non-residential use to housing under a permitting act (a building permit, a small-works approval, or an updated or revised permit) issued on or after 5 April 2024, and the conversion is completed before the buyer applies.
- What does not count. A property that was already residential on 5 April 2024 and is converted away and back. A building that received a non-residential permit after that date and was then revised to residential. Former industrial premises, unless no industry operated there for the last five years.
- Several homes from one building. When a building is divided into several apartments, each can support its own application at €250,000 or more.
- Evidence. Every application includes an engineer’s technical report stating the change of use from the earlier use to residence.
The completed conversion is the condition people most often misunderstand. Buying a property that is being converted is possible, but you can apply only after the conversion is finished.
The listed-building route
A building listed for preservation can also support an application at €250,000, with no minimum size. The restoration must be completed before your first renewal, five years later. Listed buildings bring their own rules on what may be changed and who must approve the works; have a lawyer and an engineer confirm the listing and the restoration plan before you commit.
How to check a property sold as “€250,000 eligible”
A seller’s claim is not evidence. Ask for these documents, and have your lawyer read them.
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The legal use on 5 April 2024
Proof that the property was not residential on that date: the building permit, the Cadastre record and the tax property statement.
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The permitting act and its date
The act that changes the use, issued on or after 5 April 2024, with its number.
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The completion
The engineer’s report that the change of use is complete, worded as the decision on documents requires.
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One property, one title
Each apartment with its own entry in the Cadastre after the building is divided, and any storage room or parking space in the same deed.
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The price and the payment
The full price in the deed, paid by you or a close relative into the seller’s account at a bank in Greece.
Timing: when you can apply
Three things must be true before you file: the conversion is complete, the deed is signed, and the full price is paid. The law does not say when the deed must be signed relative to the completion, only that the application comes after it. Whether a deed signed before completion works for your later application, and how money paid early is protected, are questions for your lawyer before you sign anything.
One property, one application
Each application rests on one property. Two homes cannot be added together, and a co-owned property works only if each owner’s share reaches €250,000, or between spouses. A storage room or parking space counts toward the value when it is in the same building and the same deed.
The once-only rule
The €250,000 route can be used once per property. After a permit has been granted on it, a later non-EU buyer who wants a permit from the same property needs the €400,000 or €800,000 threshold and its 120 m² minimum. Many converted homes are smaller than 120 m², so their next buyer is likely to be someone who does not need a permit. Plan your exit with that in mind.
Questions about the €250,000 route
Can I buy now and apply later?
You apply once the conversion is completed and the full price is paid. The timing of the deed itself is for your lawyer to plan.
Is the €250,000 the price before or after taxes?
It is the price recorded in the deed. Transfer tax, notary, land registry and lawyer’s fees come on top, as do the permit fees.
Does my family need a separate property?
No. One property supports the investor’s application and the family members who join it.
Will the €250,000 route stay open?
No one can promise that. Changes in 2024 came with transition rules; any future change would depend on the law that makes it.
Sources
- Law 5038/2023 (Migration Code), art. 100, as replaced by Law 5100/2024, art. 64 (accessed October 13, 2026)
- Joint Ministerial Decision 214926/2025 on supporting documents (Government Gazette B' 6014, 11.11.2025) (accessed October 13, 2026)
- Circular 1/2026 of the Ministry of Migration and Asylum (Prot. 72019, 21.04.2026), on Diavgeia (accessed October 13, 2026)
- mitos.gov.gr: investor residence permit, change of use, initial issue (accessed October 13, 2026)