Revocation of the Golden Visa for investors who artificially understate a property’s purchase price or attempt to circumvent the ban on short-term rentals was announced by Minister of Migration and Asylum Thanos Plevris. As he made clear, inspections will cover various practices that circumvent the terms of the Golden Visa, sending a clear message that residence permits cannot be obtained through arrangements that distort the programme’s actual requirements.
Speaking at Prodexpo 2026, at the Athens Conservatoire, the minister cited the example of a property purchased for €250,000, where a separate agreement guarantees that the buyer will receive part of that amount back through rental payments. “We are not interested in a property being sold to a Chinese buyer for €250,000, with a guarantee that they will get €100,000 back through a rental arrangement and obtain a residence permit,” he said.
Mr Plevris clarified that residence permits will be revoked when it is established that obtaining a Golden Visa is presented as possible for an amount below the prescribed €250,000 threshold, regardless of how this is attempted.
Short-term rentals through subletting also under scrutiny
The minister was equally clear about the ban on short-term rentals of properties acquired through the programme. As he noted, practices that attempt to circumvent the restriction through successive or parallel subletting arrangements will not be tolerated.
“Nor are we interested in granting someone a Golden Visa and, while we say that we do not want short-term rentals, having them attempt to operate a short-term rental through parallel subletting arrangements. In this case, too, the Golden Visa will be revoked,” he stressed.
This statement reflects the government’s intention to link the retention of a residence permit not only to formal compliance with investment requirements, but also to adherence to the restrictions accompanying the programme.
The Golden Visa and the housing crisis
The minister defended retaining the Golden Visa, arguing that the programme should be viewed neither as a cure-all for attracting investment nor as the main cause of the housing crisis. As he stated, it is a tool that must adapt to changing economic and social needs.
According to him, the Golden Visa’s original aim was to support construction activity at a time when the sector was facing serious difficulties. Today, with pressure on the housing market becoming more intense, priorities have shifted, with greater emphasis on making properties available for long-term use.
In this context, Mr Plevris disagreed with the view that abolishing the programme would automatically lead to an increase in available housing. Instead, he argued that what matters is how properties are used and whether they can help increase supply in the market.
“What did we remove that was very important? We removed short-term rentals, because the point is not who owns the property, but whether that property is made available for long-term use,” he noted.
Investment in properties that can be used as homes
Describing the investment model the government seeks to encourage, the minister emphasised the conversion of spaces that are currently unsuitable for residential use but could, following the necessary work, be added to the housing stock.
The aim, he explained, is to attract investors who will convert such spaces into properties suitable for residential use, increasing the options available in the market. These properties could either be used by the investors themselves or offered for long-term rental.
At the same time, he spoke in favour of providing incentives to direct some investment interest away from central Athens and towards other areas with potential for development.
Regarding investors’ countries of origin, Mr Plevris stated that Chinese nationals continue to rank first in the Golden Visa programme, followed by Turkish nationals. Israeli and British nationals also have a significant presence.
