Golden Visa of Greece: How to buy a villa for 400,000 euros and not overpay twice

Changes in the legislation of Greece have turned the search for real estate under a residence permit into a true quest. While mass investors storm Athens and Mykonos with a check for €250,000, professional players - private investors and family offices - are looking for lots in the "€400,000 zone".

In this article, we will analyze where in 2026 the threshold of €400,000 remains, which regions are the most liquid, and why buying a villa is the only way to comply with the new rule of "120 square meters".

Rules of the game: Why is €400,000 the new exclusive?

Starting from 2024-2025, the Greek government has strictly divided the country into two zones. In popular megacities and on top islands, the entry price has soared to €800,000 (not counting converted properties). However, extensive coastal areas remain in the €400,000 zone.

Critically important conditions of the program:

• Minimum area: The property must be strictly at least 120 sq.m.
• Integrity: You cannot buy two apartments of 60 sq.m. It must be one villa or one large apartment.
• Intended use: Prohibition on short-term rentals (Airbnb). Only long-term living or classic rentals from one year.

"An investment of €400,000 today is the purchase of real square meters, not inflated market expectations. It is a choice in favor of family legacy and capital value."

Where to buy a villa in Greece for €400,000: Best locations

1. Peloponnese: Messinia and the surroundings of Costa Navarino

This is a "quiet harbor" for European capital. Thanks to the development of Kalamata airport and the construction of elite golf resorts, Peloponnese has become the main alternative to the French Riviera.

• Pros: A vast selection of villas ranging from 150–200 sq.m with plots.
• Potential: Capital growth due to the development of luxury segment infrastructure.

2. Chalkidiki: Sithonia and Cassandra

While the threshold in Thessaloniki is €800,000, the €400,000 rule still applies on the Chalkidiki peninsula just an hour's drive away.

• Pros: Ideal for family residences and high liquidity when reselling to EU and Balkan citizens.

3. Epirus: Ionian Sea coast (Parga, Sivota)

A little-explored but incredibly picturesque region opposite the island of Corfu. Here you can find a modern-style villa with a panoramic view of the Ionian Sea for €400,000.

"Buying a villa in the €400k zone is like finding a table in the best restaurant in town before it’s mentioned on social media. You get the same sea view as your neighbor for €800k, but with the money saved, you can buy yourself a yacht to have fun at his expense."

Checklist for agents and bankers: What to pay attention to?

To ensure that the transaction goes smoothly and the client receives the coveted "plastic" (residence permit), check the property for the following points:

1. Energy efficiency certificate: Requirements for new buildings have been tightened.
2. Legal purity of the area: Ensure that all 120 sq.m are legalized and included in the cadastre. "Sheds" and "basements" are often not counted in the main area for the Golden Visa.
3. Prohibition of subletting: Specify in the management agreement that the property will not be listed on Booking or Airbnb. Violation leads to a fine of €50,000 and loss of status.

Conclusion: Time is the main asset

The Greek Golden Visa program remains one of the most stable in Europe, but the "window of opportunity" at €400,000 is gradually narrowing due to a shortage of properties of the required area (120+ sq.m).

A wise investor enters the market now while the selection of villas in Peloponnese and Chalkidiki still allows finding a property at the primary price, rather than a "markup for the passport".