The Short Answer: Conditionally Yes — But With Important Caveats for Indian Investors
✗ No — For Standard Athens Residential Apartments
Athens is in the Attica region. The minimum for standard residential property purchase is €800,000. No exception exists for ordinary residential units.
✓ Yes — For Specific Project Types, Under Strict Conditions
The €250,000 threshold applies only in two legally defined situations, both requiring independent lawyer verification before any commitment.
Situation 1 — Commercial-to-Residential Conversion
- Property must have been non-residential before conversion (commercial, office, industrial)
- Conversion must have been completed or permitted after 5 April 2024
- If industrial, must not have had actual industrial activity in the last five years
- Prior status must be certified by an accredited engineer
- This benefit can be used only once per property — if the previous buyer used it, the next buyer cannot
Situation 2 — Listed Historic Building Restoration
- Property must be officially listed as a protected historic building
- Must require full reconstruction or complete restoration
- Restoration must be completed before first residence renewal
- Applies only to first sale of the property
The LRS Dimension — Specific to Indian Investors
✓ Good News: €250K Is Within Single-Person LRS Capacity
At current EUR/USD exchange rates, €250,000 is approximately USD 270,000 — just above the single-year LRS limit for one individual. With modest multi-year or two-person structuring, this threshold is achievable under LRS without complex planning. This is the one threshold where individual LRS capacity is potentially sufficient.
⚠️ Contrast: €800K Athens Threshold Requires More Complex LRS Structuring
€800,000 is approximately USD 870,000 — more than three times the annual individual LRS limit. This typically requires coordinated co-investment across multiple family members over more than one financial year, with careful advance planning and Indian banking documentation.
Ministry Example (Circular 1/2026):
Investor purchases a 60m² apartment for €248,000 in an Athens industrial-to-residential conversion project, plus a parking space (€8,000) and storage unit in the same building — same contract. Total: €256,000. Application valid. Ancillary areas not counted toward 120m² but their value counts toward investment total.
Frequently Asked Questions
If a project is marketed as "250K Golden Visa eligible," is that sufficient?
No. Marketing materials are not legal opinions. Eligibility must be determined by reviewing title registry records, building permits, engineer certificates and historical use documentation — by an independent lawyer. Do not expect the person selling you the property to conduct this assessment objectively.
Is there a minimum area requirement for conversion projects?
No. The 120m² minimum area requirement applies only to the €800,000 and €400,000 residential categories. Conversion projects and historic buildings are exempt.
I purchased Greek property before 2024 for €250,000 — can I still apply?
Possibly. If the purchase was completed before the new thresholds took effect, payment was made by bank transfer and other legal conditions are met, the old thresholds may apply. This requires individual assessment — contact us.
Can an NRI use their NRE account to fund a €250K purchase?
NRIs are not subject to LRS restrictions and may remit from NRE or FCNR accounts for overseas property purchase. The funds must still be transferred bank-to-bank to a Greek bank account in your name — this is a Greek law requirement. Your Indian bank and Greek lawyer should both be briefed on the transaction before funds move.
Verify Eligibility Before Committing
Send us the property address and seller documents. We provide an independent written legal opinion — including LRS structuring guidance.
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