From Old Office to Modern Apartment: Securing Property and a Greek Residence Permit in Five Months under the New Rules

Once again, a Tranio client has chosen Greece Golden Visa programme as the most affordable European residency option through real estate investment.

The programme was revised in 2024. Now, the most accessible route is through the conversion of old commercial buildings into residential properties, starting from 250,000 euros.

This article follows one investor’s journey, showing how in 2025 it is still possible to buy property in Greece and obtain a residence permit in just a few months.

How We Helped Our Client

We sourced a property that met key criteria:

• price starting from €250,000 (the lowest Golden Visa threshold);
• choosing a trusted developer with ready-to-renovate projects;
• location with rental potential (near the Ellinikon mega-project in southern Athens).

We also advised the client throughout the residence permit process.

Legal Preparations in 2024

Our partner developer purchased an old office building in Moschato, a southern Athens district, with plans to convert it into a modern residential complex.

Before construction could begin, several legal steps had to be taken:

1. Cancellation of the previous separation act.

The building was formerly split into offices and shops. To convert it into housing, the developer submitted documents to cancel the old zoning arrangement.

2. Obtaining renovation permits.

The Moschato-Tavros municipality approved the change of use from retail to residential. A renovation permit allowed structural reconfiguration.

3. New separation act.

The property was officially designated as residential and subdivided into flats. Each unit received its own cadastral ID and could now be sold individually.

Due to strict programme requirements, there is a limited supply of €250,000-eligible properties. The key is working with experienced lawyers and understanding the legal intricacies. In Attica, only three major developers currently offer such projects.

Elvira Gracheva Head of Sales at Tranio Europe

The Process: Purchase and Fast-Track Residency for the Whole Family

In November 2024, the client paid a deposit on the chosen apartment. The sales contract was signed in December.

The family submitted their application on the island of Corfu — not in Athens, where queues can take six months or more. Due to high investor demand, processing in major cities faces delays.

Tranio advises on property selection and prepares all documents for the Greek residence permit.

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By applying in a less crowded region, the process moved much faster.

• documents submitted: late December 2024;
• biometrics provided: January 2025;
• residence cards issued: spring 2025.

The entire process took about five months — exceptionally fast by Greek standards.

Each regional office has slightly different requirements, so our legal team always prepares an extensive document package.

Elvira Gracheva Head of Sales at Tranio Europe

Between Sea and City: Project Potential and Location in South Athens

The Moschato development is a prime example of successful renovation. The developer transformed a tired office block into cosy modern apartments with resident-friendly amenities: coworking space, gym, and cinema room.

Most units are studios, ideal for students and young professionals — in demand on the rental market and promising for future resale. Completion is expected by the end of this year.

Moschato’s key advantages:

1. Strategically located between central Athens and the Port of Piraeus — just 10 minutes by metro to either destination.
2. Well-developed infrastructure: shopping centres, cafés, tavernas, schools, nurseries, and parks.

Another highlight of South Athens is its proximity to the Ellinikon project — Europe’s largest urban regeneration scheme. This smart city, built on the site of Athens’ former airport, will feature residential neighbourhoods, business districts, and vast infrastructure upgrades.

Ellinikon is expected to further increase rental demand from businessmen, professionals, expats, and tourists.