What Happens If You Want to Sell Your Property After Obtaining a Golden Visa?

An apartment purchased in Athens today may no longer meet an investor’s expectations a few years later. Rental demand may shift, maintenance costs may increase, or the investor may want to move to another property with stronger rental potential.

This raises an important question:

Can a property purchased for a Golden Visa be sold and replaced with another property?

This is not only a property-law question. The property acquired through the Golden Visa is also the foundation of the investor’s residence permit.

The ability to sell a property and the ability to retain a Golden Visa residence permit after that sale are therefore not the same issue.

Can a Golden Visa Property Be Sold?

As a rule, a property purchased through the Golden Visa belongs to the investor. The investor may deal with it in ways permitted by Greek law.

However, the continuation of the residence permit depends on maintaining the relevant investment conditions. Selling the property may therefore affect the legal basis of the Golden Visa permit.

The main framework for Golden Visa real-estate investments is set out in Article 100 of Greece’s Migration Code and subsequent amendments. Greek Golden Visa procedure and legal framework

The key point is this: selling a property does not automatically preserve every right under an existing residence permit.

Does Selling One Home and Buying Another Preserve the Golden Visa?

The answer may depend on the investment category and legal framework under which the original residence permit was granted.

For example, the legal position may differ between:

• An investor who obtained a Golden Visa by purchasing a standard residential property under a previous €250,000 threshold;
• An investor using the current €250,000 special category for commercial-to-residential conversion;
• An investor who acquired property under the €800,000 threshold.

Simply reinvesting the sale proceeds in another property does not, by itself, guarantee uninterrupted Golden Visa status.

Why Should Earlier Golden Visa Investors Be Especially Careful?

Golden Visa investment thresholds have changed over time.

Under the current framework, the minimum investment amount for standard property investment is €800,000 in Attica, Thessaloniki, Mykonos, Santorini and certain islands. 2024 amendment and regional thresholds

For this reason, an investor who obtained a Golden Visa by buying a standard €250,000 apartment in Athens in the past should not assume that they can now replace it with another standard €250,000 apartment and definitely preserve the same status.

The nature and value of the new property, the legal basis of the original permit, transitional rules and the sequence of transactions should all be reviewed together.

Investors who benefited from earlier thresholds should obtain independent legal advice based on their personal file before putting their current property on the market.

Why Does the Order of Transactions Matter?

In an ordinary property investment, selling one property and acquiring another is generally planned around financial and commercial considerations.

For a Golden Visa investment, the order of those transactions must also be assessed in relation to residence status.

If there is a gap between transferring the existing property and acquiring the new one, questions may arise about whether the investment conditions have been continuously maintained.

For this reason, the sale and new acquisition should be coordinated carefully. Even completing both transactions on the same day does not automatically mean that the residence permit will be preserved.

The safest approach is to obtain a written legal assessment of the effect of the new investment on Golden Visa status before signing the sale contract for the current property.

Must the New Property Be Reviewed for Eligibility Again?

Yes. It is not enough for the new property to be economically attractive; it may also need to meet the legal and technical conditions of the relevant Golden Visa category.

Current standard categories involve conditions such as regional investment thresholds, a single-property requirement and main-use-area rules.

The €250,000 special categories may instead involve different conditions, such as converting commercial property into residential use or restoring a listed building.

For commercial-to-residential conversion projects in particular, a marketing claim that a property is “Golden Visa eligible” is not enough. The change of use must have been completed in accordance with the applicable rules and proven through the necessary documents. 2026 clarification on change-of-use investments

Can Family Members Be Affected?

Eligible family members may benefit from residence status linked to the main Golden Visa investor.

However, their permits are connected to the principal investor’s legal status. If the legal basis of the principal investor’s permit is removed after a property sale, family members’ permits may also be affected.

This matters particularly where:

• Children have education plans in Greece;
• Family members are living in Greece;
• The permit-renewal date is approaching.

A decision to change property should not be considered independently from the family’s residence file.

Can a Golden Visa Property with a Tenant Be Sold?

A property acquired through the Golden Visa may be subject to a long-term tenancy.

When selling the property, the legal position of the existing tenancy should also be reviewed. A change of ownership does not automatically terminate the tenant’s rights in every case.

A new buyer may be willing to acquire the property with the tenant in place, while another buyer seeking to occupy the home may require vacant possession.

The duration of the tenancy, the tenant’s rights and any applicable use restrictions should therefore be assessed before the sale is planned.

Does Changing Property Make Economic Sense?

This decision should not be made on legal eligibility alone.

The following should be calculated together:

• Net proceeds from the sale of the existing property
• Total purchase cost of the new property
• Taxes
• Notary, cadastral and other transaction expenses
• Maintenance costs of the new property
• Vacancy risk
• Tenant-turnover costs
• Net rental return

For example, an existing property may generate €12,000 in gross annual rent, while a new property is expected to generate €15,000. The €3,000 annual difference may look appealing, but it is important to calculate how long it will take for that increase to recover the transaction costs.

An increase in rent alone is not enough. The net return of the new property should be compared with the economic outcome of keeping the current one.

Tax Considerations

Selling an existing Greek property and purchasing another can create different tax and transaction costs.

Depending on the nature of the transaction, a new purchase may trigger transfer tax or other taxes. Notary, cadastral and other official costs will also affect the total cost.

For investors who remain tax residents in Turkey, the Turkish tax consequences of a Greek sale and any income received should also be reviewed.

It can therefore be helpful to obtain tax advice covering both Greece and Turkey.

Is Selling Close to the Permit Renewal Date Risky?

When a Golden Visa is renewed, whether the investment conditions are still met is important.

Investors whose residence cards are close to expiry and who plan to sell their existing property and acquire another should carefully assess the completion date of the new investment, document-preparation timing and which investment will be relied upon in the renewal application.

It should not be assumed that there will be sufficient time to purchase a new property after the sale. The renewal process and property change should be planned together, taking current administrative practice into account.

Does the New Buyer Automatically Obtain a Golden Visa?

No.

The sale of a Golden Visa investor’s property does not mean that the new buyer automatically takes over the same residence rights.

A Golden Visa is a personal residence status, not a document transferred with the property. The new buyer’s application must be assessed under their own investment circumstances and the regulations in force at the time of application.

The fact that the seller obtained a Golden Visa in the past is not, by itself, proof of legal eligibility for the new buyer.

Solomon Realtors Assessment

Changing a property purchased through the Golden Visa requires more extensive planning than an ordinary home sale.

The right approach is to:

1. Identify the legal basis of the existing residence permit;
2. Review whether the new investment meets current requirements;
3. Plan the sequence of sale and new acquisition;
4. Assess the effects on family members, tenancy, tax and renewal;
5. Obtain independent written legal advice before selling.

The goal is not simply to buy a better property. It is to protect the existing residence status while evaluating the new investment’s economic value.

This content is for general information only and does not constitute personalised legal or tax advice. Before selling or replacing a property, it is recommended that your file be reviewed by an independent lawyer qualified in Greek law and by the relevant tax advisers.