Renting a Golden Visa Property: Permitted Use and Income Planning

Choose the rental strategy only after checking the legal category of the property. The Ministry’s April 2026 circular clarifies the scope of the short-term rental and subletting restrictions; a blanket statement that every form of subletting is banned is too broad.

Can I rent out a Golden Visa property?

Long-term letting is permitted. The short-term rental and subletting prohibition covers the statutory short-stay model, including stays under 60 days with only accommodation and linen, whether booked on a platform or directly. Circular 1/2026 distinguishes long-term arrangements and licensed tourism activities; obtain legal advice before using any alternative model.

Can a converted property be a business address?

Property acquired under the special change-of-use route cannot be used as a business headquarters or branch. This restriction is separate from the rental rules. Check the proposed tenant’s use and lease terms before signing.

What rental return should I expect?

Use evidence for the exact property: comparable long-term rents, occupancy assumptions, management charges, tax, repairs and vacancy. Gross yield is annual rent divided by purchase price; net return deducts costs and should account for the full amount invested. Neither a city average nor past price growth predicts your return.

Is a developer rental guarantee backed by the government?

No. It is a private contractual promise, if offered. Check the payer, duration, payment schedule, exclusions, security and remedies for default. Ask whether quoted income is gross or net and what happens after the contract expires. The Golden Visa does not insure your rent or capital.

What are the ongoing ownership costs?

Budget for annual property tax (ENFIA), building charges, maintenance, insurance, utilities, accounting and any management fees. Rental income may generate Greek tax obligations even while you live abroad. A vacant property still has running costs. Ask for an annual budget for the particular unit.

Can my buyer reuse the €250,000 conversion route?

Once the special conversion benefit has supported a permit, an ordinary resale of that residence cannot reuse the same €250,000 benefit. The buyer would need to satisfy the standard route’s applicable value and other criteria, including size. Increasing the price alone will not make a small apartment eligible. Other conversion/restoration histories require individual review.

Have the lease and management agreement reviewed before marketing the unit. Include permitted use, maintenance responsibilities, payment dates and the manager’s authority. Do not use Airbnb projections to underwrite a property whose visa conditions prohibit that rental model.