Concept Guide
Greece commercial to residential
Commercial-to-Residential Conversion Exemption
Definition
The Commercial-to-Residential Conversion Exemption is the core exemption clause under Article 100(4) of Greek Law 5038/2023. Properties originally zoned for commercial use (offices, retail, hotels) that have been legally converted to residential use retain the €250,000 Greek Golden Visa investment threshold, with no geographic restriction and exemption from the 120 sqm minimum floor area requirement. It is the lowest-threshold property route for eligible international applicants.
Detailed Definition
The Commercial-to-Residential Conversion Exemption (Greek: αλλαγή χρήσης από εμπορικό σε κατοικία) is a special exemption clause established by the Greek government to encourage urban renewal and release unused commercial buildings into the local housing supply. The clause is codified in Article 100(4) of Greek Law 5038/2023. Buildings originally zoned for commercial use (including offices, retail stores, hotels, restaurants, etc.), after obtaining a legal use-change permit (άδεια αλλαγής χρήσης), completing renovation works (άδεια οικοδομής), and passing final inspection, may serve as a "single property" for Greece Golden Visa investment at the €250,000 threshold — with no geographic restriction (including high-demand areas such as Athens Municipality, Thessaloniki Municipality, Santorini, and Mykonos), and explicitly exempt from the 120 sqm minimum floor area requirement applicable to standard residential properties. From a compliance perspective, commercial-to-residential projects must possess: (1) a valid use-change permit; (2) a construction renovation permit with a completion certificate; (3) a final building inspection; (4) Cadastre registration as residential use; (5) a notarized purchase contract aligned with the Golden Visa investment amount. The exemption allows eligible non-EU families to pursue Greek permanent residence through the lowest current property threshold. Eligibility and compliance requirements apply equally to all qualifying non-EU nationalities.
Key Facts
- Minimum Investment
- €250,000
- Geographic Restriction
- None (entire Greek territory)
- Floor Area Requirement
- Exempt (no 120 sqm minimum)
- Original Property Type
- Office / Retail / Hotel / Restaurant etc.
- Required Permits
- Use-change permit + renovation permit + final inspection
- Cadastre Status
- Must be updated to residential use
- Applicant Eligibility
- Open to qualifying non-EU nationals
- Typical Total Investment
- Approx. €280,000 (inclusive of taxes and fees)
Legal Basis
Legal foundation referenced from official Greek government and EU legal texts.
- 1
Greek Law 5038/2023, Article 100(4) (core exemption clause) ↗
Explicitly maintains the €250,000 Greece Golden Visa investment threshold for commercial-to-residential property, with no geographic restriction and exemption from the 120 sqm minimum area requirement.
- 2
Greek Building Code (Law 4067/2012 / NOK)
Governs the application process and compliance standards for use-change permits (άδεια αλλαγής χρήσης).
Historical Timeline
- 2013
Greek Law 4146/2013 introduced the Golden Visa; commercial-to-residential exemption not explicitly codified (handled case-by-case).
- 2018
The Greek government began systematic promotion of commercial-to-residential conversion as part of urban renewal strategy.
- 2023
Greek Law 5038/2023 enacted; Article 100(4) explicitly establishes the commercial-to-residential exemption.
- 2024-09-01
Commercial-to-residential exemption clause formally takes effect as the lowest-threshold Greek Golden Visa property route.
- 2026
Compliant commercial-to-residential project supply tightens; optimal projects may become scarce by 2026–2027.
How OULANG INTERNATIONAL Connects
For a commercial-to-residential instruction, OULANG INTERNATIONAL coordinates document collection and local delivery. Eligibility and compliance are not assumed: the appointed independent lawyer and engineer must verify the title, permitted use, conversion evidence, technical file and Cadastre record for the specific property. Timelines depend on the applicant documents, project readiness and authority review.
Want to discuss how this applies to your case?
OULANG INTERNATIONAL one-on-one consultation · Athens-based · founder in Greece since 2007
- •The EUR 250,000 threshold may apply to qualifying non-residential property that is lawfully converted to housing; eligibility requires property-specific verification of the change of use and application evidence.