Once again, Tranio’s client chose Greece’s “golden visa” as the most affordable residence permit in Europe for real estate investments.
In 2024, the golden visa program was changed. Now the most affordable option is only the renovation of old commercial properties into residential ones costing from 250 thousand euros.
In the article, using the example of one investor, we will tell you how in 2025 you can relatively quickly buy real estate in Greece and get a residence permit.
How we helped the client
We selected an object with the following conditions:
— price from 250,000 € (low threshold of residence permit);
— the reliability of the developer and the readiness of the facilities for renovation;
— an area with potential for rental (proximity to the large-scale Ellinikon project in the south of Athens).
We also advised on obtaining a residence permit.
Legal training in 2024
Our partner, a developer, whose project we helped choose, bought a building with former office space in the southern Athens district of Moskhato. The developer planned to completely reconstruct it and turn it into a modern residential complex.
Before starting the restructuring, the developer needed to resolve legal issues.:
1. Cancellation of the old act of separation.
The old document divided the building into offices and shops. The developer has submitted documents for the cancellation of the old act. This was necessary to convert the building into a residential facility, because the new plans did not match the old division.
2. Obtaining permits for reconstruction.
Permission to change the destination from shops to housing was issued by the municipality of Moskhato-Tavros. The reconstruction permit gave the right to redevelopment.
3. A new act of separation.
Now the building is officially considered residential and has already been divided into apartments. Each future apartment has received its own cadastral number, and now they can be sold separately.
Due to the specific conditions, the choice of facilities for the “golden visa” with a minimum budget of 250 thousand euros is limited. There are still not enough offers on the real estate market. Therefore, the main thing is to work with lawyers and know all the nuances. There are only three major developers in Attica who have similar projects.
Process: purchase and quick residence permit for the whole family
In November 2024, the client made a deposit for one of the apartments, and in December signed the final purchase and sale agreement.
The important thing is that he already had Kyrgyz citizenship, while the rest of the family had Russian citizenship. Since 2022, Russian citizens cannot be the main applicants for the “golden visa” of Greece. But as family members together with the investor, they can be included in the application. In this case, the main applicant is a citizen of Kyrgyzstan, and his relatives with Russian passports received a residence permit as accompanying family members.
Tranio will help to issue a passport of another country for citizens of the Russian Federation / RB in 3-4 months, will advise at the stage of selecting real estate, will issue a package of documents for a residence permit in Greece.
Learn more
The documents for the “golden visa” were not submitted in Athens, where queues can last for six months or more, and on the island of Corfu. Due to the high demand of investors for the program, government agencies are experiencing delays in reviewing applications.
In less populated regions, the processing of applications is much faster, unlike Athens and Thessaloniki. The family applied at the end of December 2024, passed biometrics in January 2025, and received ready-made plastic residence permit cards in the spring. The entire registration process took about five months — very fast by Greek standards.
Requirements may also vary from department to department, and our specialists always provide a large package of documents.
Between the sea and the city center: the potential of the project and the location features of the southern suburbs of Athens
The Moskhato project itself is an example of a successful renovation. The developer turned the old office building into modern apartments with comfortable infrastructure: a coworking center, a fitness room, and a cinema room. Most of the units are studios that are suitable for students and young professionals. Such facilities are well rented out and increase in price over time. Delivery is expected at the end of this year.
The Moschato area has an unusual location between the center of Athens and the port of Piraeus — you can quickly get to both locations in about 10 minutes by metro. There is a well-developed infrastructure: shopping malls, cafes, shops, taverns, schools and kindergartens, parks.
Another interesting point of southern Athens is its proximity to the large—scale Ellinikon project. This is Europe’s largest smart city, a renovation project for the former Athens Airport, including new residential areas, infrastructure, and business spaces. This is likely to increase rental demand among company employees, tourists, and expats.
In early 2025, the Tranio team announced the launch of sales of its own Filosofia redevelopment project for the Golden Visa. The project meets the new conditions of the program and is also located in a favorable location — in the center of Athens.
English 
Russian 
German 
Polish