Greece vs Portugal Golden Visa: Property Investor Guide 2026
Greece offers property-backed Golden Visas from €250,000. Portugal dropped real estate in 2023. Independent comparison for 2026 investors.
By Greek Invest Editorial · Updated July 4, 2026 · 14 min read
Quick answer: Greece is the only major EU program where you can buy real estate and receive a Golden Visa in 2026. Portugal’s 2023 reform eliminated direct property purchases; only fund investments qualify there now. Spain closed entirely in 2025. If owning a tangible EU property asset is part of your brief, Greece is your live option.
Why This Comparison Matters More in 2026
Why This Comparison Matters More in 2026 requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
Spain ended its program in April 2025 after years of political pressure from housing advocates. Portugal removed direct real estate from qualifying routes in October 2023 under the Mais Habitação housing package, redirecting capital toward investment funds. Cyprus and Malta operate residency and citizenship programs that function differently and sit outside the standard Golden Visa framework.
Greece, which modernised its program under Law 5100/2024, is the only country still issuing EU residency permits in exchange for direct property purchases across a range of price tiers. That consolidation reshaped the entire investment migration market. Demand that previously distributed itself across Spain, Portugal, and Greece is now concentrated in Greece. In 2025, Greece approved 8,879 new Golden Visa permits, a 95% increase year-on-year.
This guide gives you an independent side-by-side analysis of the Greece and Portugal programs for 2026 investors, covering investment structure, costs, timelines, tax treatment, citizenship pathway, and practical due diligence.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
Insider tip: MORE Group sequences engineer, cadastre, and bank files before reservation deposits on 2026 Golden Visa purchases.
What should foreign buyers know about at-a-Glance Comparison?
What should foreign buyers know about at-a-Glance Comparison requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
| Criterion | Greece (property route) | Portugal (fund route) |
|---|---|---|
| Program status | Active | Active (reformed) |
| Property purchase route | Yes, three tiers | No, eliminated Oct 2023 |
| Minimum investment | €250,000 (conversions) / €400,000 (regional) / €800,000 (prime) | €500,000 (approved funds) |
| Asset type | Direct real estate title | Fund unit, no property title |
| Minimum annual stay | None | 7 days average/year |
| Permit duration | 5 years, renewable | 2 years, renewable |
| Citizenship eligibility | 7 years continuous residence | 5 years from initial grant |
| Schengen access | Yes | Yes |
| Family included | Yes, spouse, minor children | Yes, spouse, minor children |
| Program law | Law 5100/2024 + Circular 1/2026 | ARI reform, Mais Habitação 2023 |
Insider tip: MORE Group files in 2026 show this step fails most often when engineer certificates, cadastre extracts, or bank traceability are sequenced after the reservation instead of in parallel with the lawyer review.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
What should foreign buyers know about greece Golden Visa: The Property Route in 2026?
Greece Golden Visa: The Property Route in 2026 requires verified thresholds under Law 5100/2024: €800,000 prime tiers in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional municipalities, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account in the buyer’s name. Budget 8% to 12% purchase costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment before comparing gross yield quotes.
Greece restructured its program with Law 5100/2024, which took full effect in 2024 and was clarified by Circular 1/2026. The program now operates on a zonal tier system for residential property and a separate conversion track.
The Three Investment Tiers
The €800,000 tier covers the four prime zones: the Attica regional unit (which includes Athens and Piraeus), the Thessaloniki regional unit, Mykonos, and Santorini. Investment must be placed in a single residential property with a usable area of at least 120 square metres. Purchasing two adjacent units to reach the threshold is not permitted, the capital must sit in one title.
The €400,000 tier applies across all other Greek regions, the entire country outside the four prime zones. The same single-property and 120 m² conditions apply. Regional cities such as Thessaly, the Peloponnese, Crete outside prime tourist areas, and most Aegean islands fall under this tier. Our detailed breakdown in the Greece Golden Visa property tiers 2026 guide covers the exact geographic definitions.
The €250,000 tier covers two specific transaction types: conversion of commercial properties to residential use, and certified restoration of heritage-listed buildings. The 120 m² minimum does not apply to either. This is the only route that preserves a lower entry point and requires specific due diligence on the conversion permit or heritage certification. We cover the mechanics in our €250,000 conversion route guide.
The Rental Restriction
Law 5100/2024 prohibits short-term tourist rentals on the qualifying Golden Visa property while the permit is active. Long-term residential leases of 12 months or longer remain permitted. This restriction applies only to the specific qualifying asset, not to other properties in a Greek portfolio. Investors who want rental income alongside residency qualification need to structure carefully, details are in our no short-term rental guide.
Application Timeline
Current processing times for Greece Golden Visa applications run approximately 12 to 18 months from submission of a complete file to permit issuance, reflecting the backlog that built through 2023 to 2024. The Greek Immigration Ministry held roughly 11,553 applications pending at the end of 2025. A biometric residency card is issued after approval and typically takes an additional 4 to 6 weeks. Our timeline guide walks through each stage.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
Insider tip: MORE Group underwriting in 2026 sequences engineer certificate, cadastre extract, and bank traceability before reservation wires, not after.
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about portugal Golden Visa: The Fund Route in 2026?
Portugal Golden Visa: The Fund Route in 2026 requires verified thresholds under Law 5100/2024: €800,000 prime tiers in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional municipalities, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account in the buyer’s name. Budget 8% to 12% purchase costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment before comparing gross yield quotes.
Portugal’s ARI (Autorização de Residência para Investimento) program survived the 2023 reform, but in a fundamentally changed form. The qualifying routes that remain are:
- Investment funds or venture capital funds: minimum €500,000 in a fund incorporated and headquartered in Portugal, capitalised for at least five years, with at least 60% of the portfolio invested in Portuguese companies.
- Scientific or technological research: minimum €500,000 in qualifying research activity.
- Job creation: creating ten or more permanent jobs.
- Cultural production or heritage: minimum €250,000 in arts, heritage, or cultural activity.
Direct purchase of residential or commercial real estate no longer qualifies, regardless of location, price, or condition.
What the Fund Route Actually Means for Investors
An investor in a qualifying Portuguese fund receives a fund unit, not a property title. The fund manager controls the underlying assets. Liquidity is limited for the minimum five-year lock-in period. Some funds invest in real estate, so there is indirect property exposure, but the investor owns no specific property and cannot use or occupy any underlying asset.
The €500,000 minimum is also higher than the €400,000 regional Greek tier and only €300,000 less than the Greek prime zone tier. When you add management fees (typically 1 to 2% annually), the effective cost of the Portuguese fund route over five years often exceeds the all-in cost of a Greek property purchase at the €400,000 tier.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about investment Route Comparison?
What should foreign buyers know about investment Route Comparison requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
| Factor | Greece property | Portugal fund |
|---|---|---|
| Minimum capital | €250K to €800K | €500K |
| Asset ownership | Direct title | Fund unit |
| Physical use of asset | Yes (no short-term rental) | No |
| Rental income potential | Yes (long-term lease) | Fund distributions only |
| Annual management fees | ~0.5 to 1% (maintenance + taxes) | ~1 to 2% fund management fee |
| Capital appreciation | Direct Greek real estate | Indirect via fund holdings |
| Liquidity | Market-dependent sale | 5-year lock-in minimum |
| Currency risk | EUR asset, EUR investment | EUR investment, EUR-denominated |
| Inheritance / estate | Property passes to heirs directly | Fund units per fund rules |
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
What should foreign buyers know about costs and Timeline Side by Side?
Costs and Timeline Side by Side requires verified thresholds under Law 5100/2024: €800,000 prime tiers in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional municipalities, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account in the buyer’s name. Budget 8% to 12% purchase costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment before comparing gross yield quotes.
Understanding the real costs requires separating the qualifying investment from acquisition costs, ongoing fees, and professional advisory expenses.
| Cost Item | Greece (€400K regional tier) | Portugal (€500K fund) |
|---|---|---|
| Qualifying investment | €400,000 | €500,000 |
| Transfer / stamp tax | ~€12,400 (3.09% of taxable value) | None (fund subscription) |
| Notary + land registry | ~€2,000 to €3,500 | Not applicable |
| Legal counsel | €3,000 to €8,000 | €3,000 to €6,000 |
| Government application fee | ~€2,000 per applicant | ~€5,000 per applicant |
| Annual property tax (ENFIA) | ~€500 to €2,000 | Not applicable |
| Fund management fee (5 yr) | Not applicable | ~€50,000 to €100,000 |
| Approximate 5-year all-in | ~€420,000 to €425,000 | ~€560,000 to €620,000 |
| Processing time | 12 to 18 months | 12 to 18 months |
| Permit duration | 5 years | 2 years (renewable) |
The property acquisition costs for Greece are one-time. The fund management fee for Portugal is recurring for the full lock-in period, which makes the total cost of the Portuguese route substantially higher over five years at equivalent qualifying investment levels.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
How does Tax Treatment: Greece vs Portugal compare?
How does Tax Treatment: Greece vs Portugal compare requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
Neither Greece nor Portugal requires Golden Visa holders to become tax residents, but investors who do spend significant time in either country face different domestic tax frameworks.
Greece offers two non-habitual resident tax alternatives:
- The €100,000 lump-sum regime (Article 5A of the Greek Income Tax Code): foreign-source income is taxed at a flat annual payment of €100,000, regardless of the actual income amount. Designed for high-net-worth individuals.
- The 7% flat-rate pensioner regime (Article 5B): foreign pension income taxed at 7% for a maximum of 15 years. Lower-cost option for retirees.
Portugal operated the Non-Habitual Resident (NHR) regime from 2009 until December 2023, which applied a 10-year flat rate of 10% on foreign pensions and 20% on qualifying Portuguese-source income. The NHR was replaced from January 2024 by the IFICI (Incentivo Fiscal à Investigação Científica e Inovação) regime, which is narrower and primarily targets researchers, educators, and qualified professionals in priority sectors. The standard Portuguese income tax rates (up to 48%) now apply to most new arrivals who are not in the IFICI category.
For investors whose primary goal is a tax-efficient EU base alongside residency, Greece’s regimes are currently more accessible to a broader investor profile than Portugal’s post-NHR framework.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about citizenship Pathway?
Citizenship Pathway means confirming €800,000 tier pricing, €400,000 usable-area certification, and 120m² transfer or compliance cost before any deposit under Law 5100/2024. Greek Invest buyers typically require engineer certificates, cadastre extracts, and Circular 1/2026 bank traceability at this stage. Treat broker summaries as planning bands until a licensed Greek lawyer confirms each line item in writing.
Both countries offer a route to EU citizenship through naturalisation, but the timelines and conditions differ meaningfully.
Greece grants citizenship after seven years of continuous legal residence. The applicant must demonstrate genuine physical presence, functional knowledge of Greek, and integration into Greek society. The Golden Visa itself carries no stay requirement, so investors must actively plan their physical presence strategy starting from year one if citizenship is the eventual goal.
Portugal grants citizenship after five years from the date of the initial residency permit, provided the applicant meets a language test at B1 level in Portuguese and has a clean criminal record. The minimum stay requirement, averaging seven days per year, is low enough that most Golden Visa investors meet it without difficulty. Portugal’s five-year citizenship timeline is one of the fastest routes to an EU passport available anywhere.
If a European passport is the primary objective and speed matters, Portugal’s fund route delivers citizenship eligibility two years faster than Greece’s property route. If owning real property in the EU is part of the objective alongside residency, Greece is the only option.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about decision Framework: Which Program Fits Your Profile?
Choose Greece if:
- You want to own a tangible EU real-estate asset
- Real estate in a Mediterranean market forms part of your wealth strategy
- You prefer capital tied to a specific property with a direct title
- Long-term rental income from the qualifying property is acceptable to you (short-term rental is restricted)
- The regional tier at €400,000 fits your capital allocation
- You want to explore Crete, Athens, or regional areas; see our cost of buying property in Greece guide for realistic budgets
Choose Portugal’s fund route if:
- EU citizenship in five years is the primary goal and speed matters
- You have €500,000+ to deploy into a managed fund
- You are comfortable with indirect property exposure through a fund structure
- You prefer not to manage a physical property
- You want the lower annual stay requirement for permit maintenance
- You fit the IFICI tax profile or do not plan to become a Portuguese tax resident
Neither program is optimal if:
- You want direct real estate in Portugal, that route is gone
- You want the lowest possible entry point in a prime EU location, the Greek prime zones now require €800,000
- You expect rapid liquidity from your qualifying investment, both programs impose holding requirements
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about due Diligence and Independent Advisory?
What should foreign buyers know about due Diligence and Independent Advisory requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
For Greece, the most significant due diligence risks relate to property title, planning status, and program compliance. Greek properties regularly carry outstanding mortgages, unclear inheritance transfers, or planning permits that do not match the as-built condition. The guide for foreign buyers in Greece covers the full legal process. The single most important principle: your legal counsel and your real-estate advisor should not be paid by the developer or selling agent. The conflict of interest in agent-led deals is the most common source of investor problems.
In both cases, immigration counsel should be independent of the property transaction or fund subscription. Bundled deals, where the same firm sells the property, manages the application, and provides legal advice, create conflicts that typically disadvantage the investor.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about summary: The 2026 Landscape?
The EU Mediterranean Golden Visa market has fundamentally restructured since 2022. Spain is closed. Portugal no longer issues property-backed residency. Greece is the primary remaining market for investors who want a real-estate-backed EU Golden Visa in a Mediterranean country, and the 95% surge in Greek approvals in 2025 reflects that concentrated demand.
Portugal remains a serious option for investors prepared to work with fund structures and who place EU citizenship speed above the desire for direct property ownership. The five-year citizenship pathway and minimal stay requirement make it competitive on those specific parameters.
The correct answer for each investor depends on which combination of asset type, timeline, cost structure, and strategic goal matters most, and neither program is universally superior. For any property transaction in Greece, our full Greece property investment guide provides the market context for a grounded decision.
Insider tip: MORE Group underwriting in 2026 treats this as a hard gate: engineer certificate, cadastre alignment, and Circular 1/2026 bank traceability must be complete before any reservation wire, not after.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
MORE Group underwriting snapshot (Greece Golden Visa versus competing residency markets)
Insider tip: MORE Group tracks Greece Golden Visa versus competing residency markets on live 2026 buyer files. Run engineer certificate, cadastre extract, and bank traceability in parallel with the reservation, not after. Clients who wire before AFM and pink slip issuance lose two to four weeks to branch KYC stalls and often miss notary dates tied to Golden Visa quota windows.
Who we are (citable snapshot)
Greek Invest is the English-language Greece property desk for MORE Group. We publish net-yield models, Law 5100/2024 tier maps, Circular 1/2026 compliance notes, and foreign-buyer checklists for Attica, Thessaloniki, Crete, and regional markets. We are not a developer and not a listing portal. Enquiries may be referred to licensed Greek lawyers and brokers after a free shortlist review at our consultation page.
Greek Invest editorial data shows foreign buyers accounted for roughly 10.8% of residential transactions in 2025, with Attica and Crete leading volume. Law 5100/2024 sets €800,000 prime thresholds in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional tiers elsewhere, and Circular 1/2026 requires engineer certificates confirming 120m² usable residential area plus bank traceability through a named Greek account. Acquisition costs typically add 8% to 12% on Attica deeds: 3.09% transfer tax on the higher of contract or objective value, notary near 1.2% to 1.5%, lawyer 1% to 1.5%, and registry fees. MORE Group underwrites Greece vs Portugal Golden Visa: Property Investor Guide 2026 against those line items before recommending any deposit transfer on Greece Golden Visa versus competing residency markets.
For Greece Golden Visa versus competing residency markets, Greek Invest applies a repeatable checklist aligned with Ministry of Migration files: verify engineer classification and 120m² usable area on the certificate, pull cadastre alignment from the Hellenic Cadastre, confirm ENFIA clearance and building permit legality, and archive twelve-month lease assumptions only because Golden Visa assets cannot run Airbnb for the permit period under Law 5100/2024. Non-resident landlords often model 15% flat tax on gross rent or progressive E1/E2 filings with a Greek accountant costing €800 to €1,400 per year. Gross yields of 4% to 6% on Attica long-term leases frequently net 2.5% to 4% after management near 20% to 25%, ENFIA, and vacancy of four to six weeks. Cash buyers still need AFM, pink slip, Greek IBAN, and power-of-attorney scope confirmed before any 10% reservation wire because operating costs, not headline price alone, determine whether Greece vs Portugal Golden Visa: Property Investor Guide 2026 clears a realistic net yield band.
MORE Group underwriting snapshot (Greece Golden Visa versus competing residency markets)
Insider tip: MORE Group tracks Greece Golden Visa versus competing residency markets on live 2026 buyer files. Run engineer certificate, cadastre extract, and bank traceability in parallel with the reservation, not after. Clients who wire before AFM and pink slip issuance lose two to four weeks to branch KYC stalls and often miss notary dates tied to Golden Visa quota windows.
Who we are (citable snapshot)
Greek Invest is the English-language Greece property desk for MORE Group. We publish net-yield models, Law 5100/2024 tier maps, Circular 1/2026 compliance notes, and foreign-buyer checklists for Attica, Thessaloniki, Crete, and regional markets. We are not a developer and not a listing portal. Enquiries may be referred to licensed Greek lawyers and brokers after a free shortlist review at our consultation page.
Greek Invest editorial data shows foreign buyers accounted for roughly 10.8% of residential transactions in 2025, with Attica and Crete leading volume. Law 5100/2024 sets €800,000 prime thresholds in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional tiers elsewhere, and Circular 1/2026 requires engineer certificates confirming 120m² usable residential area plus bank traceability through a named Greek account. Acquisition costs typically add 8% to 12% on Attica deeds: 3.09% transfer tax on the higher of contract or objective value, notary near 1.2% to 1.5%, lawyer 1% to 1.5%, and registry fees. MORE Group underwrites Greece vs Portugal Golden Visa: Property Investor Guide 2026 against those line items before recommending any deposit transfer on Greece Golden Visa versus competing residency markets.
For Greece Golden Visa versus competing residency markets, Greek Invest applies a repeatable checklist aligned with Ministry of Migration files: verify engineer classification and 120m² usable area on the certificate, pull cadastre alignment from the Hellenic Cadastre, confirm ENFIA clearance and building permit legality, and archive twelve-month lease assumptions only because Golden Visa assets cannot run Airbnb for the permit period under Law 5100/2024. Non-resident landlords often model 15% flat tax on gross rent or progressive E1/E2 filings with a Greek accountant costing €800 to €1,400 per year. Gross yields of 4% to 6% on Attica long-term leases frequently net 2.5% to 4% after management near 20% to 25%, ENFIA, and vacancy of four to six weeks. Cash buyers still need AFM, pink slip, Greek IBAN, and power-of-attorney scope confirmed before any 10% reservation wire because operating costs, not headline price alone, determine whether Greece vs Portugal Golden Visa: Property Investor Guide 2026 clears a realistic net yield band.
Frequently Asked Questions
No. Portugal's October 2023 Mais Habitação reform removed direct real estate purchases as a qualifying route for its Golden Visa (ARI). Qualifying routes now include investment funds (€500,000 minimum), venture capital, research activity, and job creation. Anyone wanting a property-backed EU Golden Visa must look at Greece, which kept real-estate routes at €250,000, €400,000, and €800,000 tiers.
Greece operates three tiers under Law 5100/2024. Prime zones, Attica, the Thessaloniki regional unit, Mykonos, and Santorini, require €800,000 in a single residential property of at least 120 m². Regional Greece requires €400,000 with the same single-property and size rules. Commercial-to-residential conversions and certified heritage restoration projects qualify at €250,000 without the size restriction.
Portugal reaches citizenship eligibility in five years from the initial residency grant and requires only seven days of physical presence per year on average. Greece reaches citizenship after seven years of continuous legal residence but imposes no annual stay requirement during the Golden Visa period. For investors whose priority is a fast EU passport, Portugal's fund route is more efficient; for investors who want a real property asset in the EU, Greece is the only live option.
No. The Greece Golden Visa imposes no minimum annual stay requirement during the five-year permit period or at renewal. The permit renews every five years as long as the qualifying investment is maintained. Citizenship, however, requires seven years of continuous residence with genuine physical presence, so investors pursuing eventual Greek citizenship must plan accordingly.
Spain formally closed its Golden Visa to new property-based applications in April 2025, ending a program that had issued roughly 6,000 permits since its 2013 launch. Existing permit holders retain their status, but no new property-route applications are accepted. Spain's exit removed the largest direct competitor to Greece in the Mediterranean market.
Under the reformed ARI program, the minimum qualifying investment in an approved fund is €500,000. The fund must be incorporated and headquartered in Portugal, capitalised for at least five years, and invest at least 60% of its portfolio in Portuguese companies. Investors receive no direct property title; they hold a fund unit. The route gives Schengen residency and a path to citizenship but no tangible real-estate asset.
Both programs have faced backlogs. Portugal's SEF-to-AIMA transition created multi-year delays in 2022 to 2024, though processing has improved under the new immigration authority. Greece had approximately 11,553 applications pending at the end of 2025 while simultaneously approving a record 8,879 permits. Both authorities now publish processing-time guidance, and applicants should verify current wait times before choosing primarily on speed grounds.
Long-term residential leases of 12 months or longer are permitted on the qualifying property. Short-term tourist rentals through platforms such as Airbnb or Booking.com are prohibited on the specific asset holding the Golden Visa qualification while the permit is active. This restriction does not apply to other properties in your Greek portfolio, only the qualifying unit.
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