Golden Visas in Europe (2026): Which Property Routes Are Left and What the Money Buys
Spain and Portugal have closed their property golden visas. We checked the rules in 31 countries and calculated how much home the minimum investment buys in each city that still qualifies.
Golden visas, residence permits granted in exchange for an investment, used to be the easiest way for non-EU buyers to settle in Europe through property. Since 2022 most of the best-known programmes have closed or dropped real estate. We checked the current rules in the 31 countries covered by our country buying guides and calculated how much home the minimum investment actually buys in each city that still qualifies.
Key findings
- Among the 31 countries we track, four still grant residence for buying residential property: Greece, Hungary, Cyprus and Latvia.
- Spain abolished its €500,000 real-estate golden visa from 3 April 2025, Portugal stopped accepting real estate on 7 October 2023, Ireland closed its investor programme in 2023 and the UK closed the Tier 1 Investor visa in February 2022.
- The cheapest property-based golden visas start at €250,000: Latvia for any qualifying real estate, and Greece only for commercial-to-residential conversions or listed-building restoration.
- What the minimum buys varies more than fourfold. €800,000 buys about 286 m² in Athens at the city average, while €300,000 buys only about 64 m² in Limassol, and Cyprus requires a new build from a developer, which usually costs more than the average.
- Italy's investor visa does not cover real estate, and Switzerland and Monaco have no property-based residence route.
Which European countries still offer a golden visa for property?
| Country | Property route in 2026 | Minimum investment | Main conditions |
|---|---|---|---|
| Greece | Open | €800,000 / €400,000 / €250,000 | €800,000 in Attica, Thessaloniki, Mykonos, Santorini and large islands; €400,000 elsewhere (single property of at least 120 m²); €250,000 for commercial-to-residential conversions or listed-building restoration. Short-term letting of the property is banned. |
| Hungary | Open | €500,000 | Guest Investor Programme: residential property worth at least €500,000, held for 5 years (or €250,000 in a real estate fund). |
| Cyprus | Open | €300,000 + VAT | Permanent residence for a new residential property bought from a developer, paid with funds from abroad, plus proof of foreign income. |
| Latvia | Open | €250,000 | Temporary residence permit for real estate of at least €250,000 (with minimum cadastral values), plus a 5% state fee. |
| Spain | Closed | — | The €500,000 real-estate golden visa was abolished with effect from 3 April 2025; no new applications are accepted. |
| Portugal | Closed to property | — | Real estate has not qualified since 7 October 2023; fund, research and business routes remain. |
| Ireland | Closed | — | The Immigrant Investor Programme closed to new applications in 2023 and never included residential property. |
| United Kingdom | Closed | — | The Tier 1 Investor visa closed in February 2022; buying property does not grant residence. |
| Italy | No property route | — | The investor visa covers bonds, companies or donations; real estate does not qualify. |
| Switzerland | No property route | — | No real-estate golden visa; a property purchase does not grant residence. |
| Monaco | No property route | — | No investment residence programme; a residence card requires accommodation in Monaco and proof of means. |
Rules as summarised in our country buying guides, reviewed October 2026. Golden visa rules change often: confirm the current conditions with a licensed lawyer before committing any money.
What does the minimum investment buy?
The threshold is the same across each country (or zone), but property prices are not, so the minimum investment buys very different homes. Using SQMData's average asking prices per square meter:
| City | Minimum property investment | Avg price per m² | m² at the city average | m² at city-centre prices | Gross rental yield | Typical buying costs |
|---|---|---|---|---|---|---|
| Athens (Greece) | €800,000 (Attica) | €2,800 | 286 m² | 195 m² | 4.7% | 7–10% |
| Thessaloniki (Greece) | €800,000 | €2,200 | 364 m² | 267 m² | 4.4% | 7–10% |
| Budapest (Hungary) | €500,000 | €3,200 | 156 m² | 111 m² | 5.3% | 4–6% |
| Larnaca (Cyprus) | €300,000 + VAT, new build | €2,600 | 115 m² | 88 m² | 6.0% | 2–6% |
| Limassol (Cyprus) | €300,000 + VAT, new build | €4,700 | 64 m² | 42 m² | 5.1% | 2–6% |
| Riga (Latvia) | €250,000 | €2,500 | 100 m² | 76 m² | 4.8% | 2–4% |
m² = minimum investment ÷ average asking price per m². Gross rental yield = annual rent ÷ price at the city average. Buying costs (taxes, notary, registration, agent) come on top of the investment threshold.
The four programmes in detail
Greece: the largest homes for the money
Greece has the best-known remaining programme and the widest range of thresholds. In Athens and Thessaloniki the €800,000 minimum buys a very large home by local standards: about 286 m² at the Athens average or 364 m² in Thessaloniki. In the €400,000 zones the investment must go into a single property of at least 120 m², so check that the exact property qualifies before signing. The important restriction for investors is that short-term letting of a qualifying property is banned, so the return depends on long-term rents (gross yields of about 4.4–4.7% in our data). Buying costs in Greece typically add 7–10%. See Greece property taxes and buying costs.
Hungary: Budapest at €500,000
Hungary's Guest Investor Programme brought back a property route: residential property worth at least €500,000, held for five years. At Budapest's average of €3,200 per m², that is about 156 m², or 111 m² at city-centre prices. Budapest also has one of the higher gross yields among European capitals (5.3%). There is a lower-cost alternative of €250,000 in a real estate fund, which does not involve owning a home.
Cyprus: permanent residence, but only for new builds
Cyprus offers permanent residence rather than a renewable permit, which sets it apart, but the €300,000 (plus VAT) has to go on a new residential property bought from a developer, paid with money from abroad, and you must show a foreign income. At average asking prices, €300,000 buys about 115 m² in Larnaca but only 64 m² in Limassol, and new builds typically cost more than the average. Buying costs in Cyprus are low (2–6%) and yields are the highest of the four: Larnaca's 6.0% gross is the best of the 43 cities we track.
Latvia: the cheapest entry point
Latvia grants a temporary residence permit for real estate of at least €250,000, plus a 5% state fee and minimum cadastral values. In Riga that buys about 100 m² at the city average. Combined with buying costs of only 2–4%, it is the lowest total entry price of the remaining programmes for an ordinary home.
What changed: the programmes that closed
Most closures came amid EU pressure on investment-migration schemes and, in Spain and Portugal, concerns about housing affordability:
- United Kingdom (February 2022): the Tier 1 Investor visa closed.
- Ireland (2023): the Immigrant Investor Programme closed to new applications; it never covered residential property.
- Portugal (October 2023): real estate stopped qualifying, though investment fund, research and business routes still exist.
- Spain (April 2025): the €500,000 real-estate golden visa was abolished.
For buyers who no longer need residence through investment, these countries remain open to foreign purchasers. Our guides cover the rules for each, for example buying property in Spain and buying property in Portugal.
Frequently asked questions
Which European countries still have a golden visa for property in 2026?
Of the 31 countries we track, Greece (from €250,000, €800,000 in Athens and Thessaloniki), Hungary (€500,000), Cyprus (€300,000 plus VAT, new builds only) and Latvia (€250,000) still grant residence for buying residential property.
What is the cheapest golden visa in Europe?
The lowest property thresholds are €250,000 in Latvia and €250,000 in Greece, but in Greece that amount applies only to commercial-to-residential conversions or the restoration of listed buildings. For an ordinary apartment, Latvia is the cheapest at €250,000 plus a 5% state fee.
Does Spain still have a golden visa?
No. Spain abolished its €500,000 real-estate golden visa with effect from 3 April 2025 and no longer accepts new applications.
Can you still get a Portuguese golden visa by buying property?
No. Real estate has not qualified for Portugal's golden visa since 7 October 2023. Investment fund, research and business routes remain available.
Does Italy have a golden visa for real estate?
No. Italy's investor visa covers investments in government bonds, companies or philanthropic donations; buying real estate does not qualify.
Methodology and disclaimer. Programme rules are taken from SQMData's country buying guides (reviewed October 2026) and cover only the 31 countries we track. Prices, rents and buying costs are SQMData averages for 2026. This article is general information, not legal or immigration advice: thresholds, qualifying areas and conditions change frequently, and approval depends on individual circumstances. Always confirm the current rules with a licensed lawyer in the country concerned.