Piraeus 250K Golden Visa: New Keranis Residences Project

A new residential project in Piraeus is drawing attention from foreign investors. Mercan Greece has unveiled Keranis Residences, a development priced at the €250,000 Golden Visa threshold. For anyone weighing a move to Greece, this is worth a closer look, because it sits right at the point where investment and residency meet.

We get asked a lot about the €250,000 route. Since the Greek Golden Visa program raised its minimums in 2024, most of Athens and the popular islands now require €800,000. But certain areas, including parts of Piraeus, still qualify at the lower €250,000 level. That gap makes projects like Keranis Residences especially relevant for buyers who want a foothold in the Attica region without committing to the top-tier budget.

What does this mean in practice? If you buy a property in one of these designated zones, you can apply for the Golden Visa with a €250,000 investment. The property must be held for the duration of the visa, and you need to meet the standard conditions: clean criminal record, valid health insurance, and proof that the funds come from abroad. The visa grants residency to the investor and their immediate family, and it renews as long as the property stays in your name.

One detail that often surprises people: the property cannot be rented out on a short-term basis if you use it for the Golden Visa. Long-term leases are fine, and you can live there yourself. That rule has shaped how developers design these projects. Keranis Residences, for example, is positioned as a residential complex, which suggests it aims to fit within the program's constraints.

For foreigners, the appeal goes beyond the visa itself. Piraeus is undergoing a quiet transformation. The port city has better transport links to Athens, a growing food scene, and a more relaxed pace than the capital's center. Property prices here are lower than in Kolonaki or the northern suburbs, which means your €250,000 goes further in terms of square meters. That combination of affordability and location is why we see steady interest from clients looking at this corridor.

But we always advise caution with any off-plan or newly launched project. You need to check the developer's track record, confirm that the building permits are in order, and understand the payment schedule. If the project is not yet completed, the Golden Visa application may have to wait until the property is registered. That timeline can stretch longer than buyers expect, so factor it into your planning.

Another point: the €250,000 threshold is tied to specific zones, and those boundaries can shift. What qualifies today might not qualify next year, or vice versa. The Greek government has adjusted the program before, and it may do so again. So if you are seriously considering this route, the window may not stay open indefinitely.

We also remind clients that the Golden Visa is not a path to citizenship by itself. It gives you residency, which you can renew, and after seven years you may apply for naturalization, but that requires meeting additional criteria like tax residency and language proficiency. For many, the visa is enough: it allows visa-free travel within the Schengen area and a base in Greece.

If you are weighing a purchase in Piraeus or anywhere else in Greece, the practical steps start before you sign anything. You will need a Greek tax number, known as an AFM (Greek Tax Number), and likely a Greek Bank Account to handle the transaction. Both can be arranged remotely through our network. And if you are looking at a specific project, a Legal Consultation can help you review the contract and the developer's claims.

At the end of the day, Keranis Residences is one example of how the market is adapting to the new Golden Visa rules. Developers are creating products that fit the €250,000 zones, and buyers are responding. For a foreigner considering Greece, this is a moment to look closely at Piraeus and similar areas. The process involves paperwork, due diligence, and patience, but the outcome can be a home in a city that is changing for the better. If you want to explore your options, you can start with us by reaching out through our site, and we will guide you through the first steps.