The €250k Exception: Commercial to Residential Conversions

As the standard Golden Visa thresholds rise to €400,000 and €800,000, a specific provision has caught the attention of savvy investors: the €250,000 exception for commercial-to-residential conversions. This route offers a significantly lower entry point but comes with its own set of complexities.

Understanding the Provision

The law allows investors to qualify for the Golden Visa with a €250,000 investment if the funds are used to purchase and convert a property from commercial or industrial use to residential use. Crucially, the conversion must be completed before the Golden Visa application is submitted.

The Execution Challenge

While financially attractive, this route requires robust local execution. Investors must navigate zoning laws, secure building permits, manage contractors, and ensure the final residential property meets all legal standards. This is not a passive investment; it requires active project management or a trusted local partner like Hellenify to oversee the process.

Market Opportunities

Areas in central Athens, such as Metaxourgeio and Kypseli, are ripe with underutilized commercial spaces. Converting these into modern apartments not only secures the Golden Visa but also provides excellent assets for the long-term rental market, which is currently experiencing high demand and low supply.