2026 Guide to European Property Residency & Citizenship Options
Compare the latest residency and citizenship routes through real estate in Greece, Portugal, Spain, Montenegro, and Turkey, with costs, requirements and key restrictions.
Introduction
For high‑net‑worth individuals, buying property has long been a shortcut to European residence—or even citizenship. The landscape, however, is shifting fast. By early 2026 the classic Golden Visa programmes of Spain and Portugal have disappeared, Greece has tightened rental rules, Montenegro offers only renewable residence, and Turkey remains the sole non‑EU option that still grants full citizenship through real estate.
Below you will find a practical breakdown of what each country currently offers, the exact financial thresholds, and the steps involved. The information reflects the latest legislation as of 2026 and is intended to help you decide which route aligns with your lifestyle and long‑term goals.
How Property‑Based Programs Have Evolved in 2026
Since 2023, European governments have been reassessing the balance between attracting foreign capital and protecting housing markets. Portugal removed residential real estate from its Golden Visa in October 2023; Spain abolished its programme altogether in April 2025 following EU pressure to curb “passive residency”. Greece kept its visa but introduced a ban on short‑term rentals (Airbnb) for properties purchased under the scheme, aiming to preserve local housing stock.
Meanwhile, non‑EU countries such as Turkey have doubled down on citizenship‑by‑investment, offering a clear path to a passport in exchange for a sizeable property purchase and a three‑year holding period. Montenegro, which never joined the EU, continues to sell renewable residence permits linked to real‑estate investment, but its popular Citizenship‑by‑Investment (CBI) stream closed in 2022.
Country‑by‑Country Snapshot
Greece – Golden Visa (EU Residence)
The Greek Golden Visa remains the most affordable EU residence route based on property. Investors receive a five‑year renewable residence permit that allows free movement within the Schengen Area, but it does not lead directly to citizenship.
- Minimum investment: €250,000 in residential or commercial real estate (the lowest tier). Higher tiers of €400,000 and €800,000 are available for larger portfolios or mixed‑use projects.
- Stay requirement: No minimum days per year; the permit is valid as long as the property is retained.
- Key restriction: Units bought under the Golden Visa cannot be listed on short‑term platforms such as Airbnb. Traditional long‑term rentals are permitted.
- Path to citizenship: After seven years of continuous residence (including time spent outside Greece), applicants may apply for naturalisation, subject to language and integration tests.
The application is typically processed within three months, and the permit can be extended indefinitely as long as the investment remains intact.
Portugal – No Property Route, D7 Income Visa
Portugal’s Golden Visa lost its residential‑property component in October 2023. The country now only accepts investments in qualifying funds, job creation, or capital transfer. For investors who still wish to live in Portugal, the most viable alternative is the D7 “Passive Income” visa.
- Eligibility: Proof of a regular passive income of at least €8,000 per year (higher for families).
- Residence permit: Initial two‑year stay, renewable for successive periods of two years.
- Path to citizenship: After five years of legal residence, applicants may apply for Portuguese citizenship, provided they meet language requirements (A2 level).
The D7 visa does not require a property purchase, but owning real estate can strengthen the case for genuine ties to Portugal during the naturalisation process.
Spain – Golden Visa Abolished (April 2025)
Spain’s popular Golden Visa was officially terminated in April 2025. As of 2026, there is no longer any residency route that grants a permit solely on the basis of property ownership.
- Current alternatives: Non‑lucrative residence visa (requires proof of sufficient financial means) and the Digital Nomad visa (requires remote work for an employer outside Spain).
- Key difference: Neither alternative grants immediate access to the Schengen Area for family members, and both demand a minimum income threshold (€2,400 per month for the non‑lucrative visa, higher for digital nomads).
Investors who still wish to own Spanish property can do so freely; however, the purchase does not confer any immigration benefit.
Montenegro – Renewable Residence via Real Estate
Montenegro offers a straightforward residence‑by‑investment scheme that is not tied to EU membership. The programme grants a one‑year renewable residence permit for each qualifying property investment, with the possibility of renewal indefinitely as long as the asset remains owned.
- Minimum investment: €250,000 in newly built residential property or €450,000 in commercial real estate (both priced in euros).
- Processing time: Typically 4–6 weeks from submission of the application and proof of funds.
- EU status: Montenegro is not an EU member; residence does not confer Schengen mobility.
- Citizenship: The CBI programme that once offered fast‑track citizenship closed in 2022, so the only long‑term benefit remains renewable residency.
The permit allows free travel within Montenegro and access to its growing economy, but holders must apply for separate visas to enter the Schengen zone.
Turkey – Citizenship by Investment (Real Estate)
Turkey continues to be one of the few non‑EU countries where a property purchase can lead directly to citizenship. The government requires a minimum real‑estate investment of US$400,000, held for at least three years.
- Investment amount: $400,000 (or equivalent in Turkish Lira) in a single residential property or multiple properties that together meet the threshold.
- Holding period: Minimum three‑year ownership before citizenship is granted.
- Processing time: Approximately 3–4 months after the holding period is satisfied and all documents are verified.
- Benefits: Full Turkish passport, visa‑free travel to over 110 countries, and the right to work or study in Turkey without additional permits.
Because Turkey is not part of the EU, the passport does not provide Schengen access. However, it offers a valuable alternative for investors seeking a second nationality with relatively low financial barriers.
Quick Comparison Table
| Country | Permit Type | Minimum Investment | EU/Schengen Access | Main Restriction | Processing Time |
|---|---|---|---|---|---|
| Greece | Golden Visa (5‑yr renewable residence) | €250,000 (property) | Schengen mobility | No short‑term rentals on GV units | ~3 months |
| Portugal | D7 Passive Income Visa (2‑yr renewable) | Not property‑based; €8,000/yr passive income | Schengen mobility | Requires proof of stable income | 4–6 weeks |
| Spain | None (Golden Visa abolished) | N/A | No direct Schengen benefit from property | Must use non‑lucrative or digital‑nomad visas | Varies by visa type |
| Montenegro | Renewable Residence (1‑yr, extendable) | €250,000 (new residential) or €450,000 (commercial) | No Schengen access | CBI closed; only residence available | 4–6 weeks |
| Turkey | Citizenship by Investment (3‑yr hold) | $400,000 (property) | No EU/Schengen access | Must retain property for 3 years | 3–4 months after holding period |
Practical Steps to Secure Your Property‑Based Permit
While each country has its own bureaucracy, the general workflow is similar:
- Select a qualified property. Work with a licensed real‑estate agent who understands the specific residency criteria (e.g., new construction vs. resale).
- Open a local bank account. Most applications require proof of funds transferred to an account in the host country.
- Engage a legal representative. An immigration lawyer will prepare and certify documents such as title deeds, tax clearance certificates, and background checks.
- Submit the application. For Greece and Montenegro this is done through the local police or migration office; Turkey requires filing with the Ministry of Interior’s Investment Department.
- Await approval. Processing times vary (see table). Once approved, you receive a residence permit or citizenship certificate.
- Maintain compliance. Keep the property in your name for the required period and renew permits before expiration.
Because the rules can change quickly, many investors rely on specialist firms to stay up‑to‑date. Resida Global assists clients throughout the entire journey—from property selection to filing the paperwork—ensuring a smooth transition into your new European lifestyle.
Conclusion
The 2026 landscape offers fewer EU Golden Visa routes than in previous years, but opportunities remain. Greece still provides the most cost‑effective Schengen residence, while Turkey stands out for those who want full citizenship without EU membership. Montenegro delivers a renewable residency option for investors comfortable with non‑EU status, and Portugal’s D7 visa shifts the focus from property to passive income. Understanding each programme’s nuances—and partnering with an experienced advisor like Resida Global—will help you choose the path that best matches your financial goals and lifestyle aspirations.
Frequently Asked Questions
Can I obtain EU citizenship by buying property in Europe?
No European country currently grants automatic EU citizenship solely through real‑estate purchase. Most programmes, such as Greece’s Golden Visa, provide residence permits that may lead to citizenship after several years of continuous stay and meeting additional criteria.
What are the main differences between Greece's Golden Visa and Turkey's citizenship program?
Greece offers a €250,000 property investment for a renewable five‑year EU residence permit with Schengen access, but no direct path to citizenship. Turkey requires a $400,000 property purchase held for three years and grants full Turkish citizenship, though it does not provide EU or Schengen mobility.
Is it still possible to get Spanish residency through real‑estate investment?
No. Spain abolished its Golden Visa in April 2025. Prospective residents must now apply for alternatives such as the non‑lucrative residence visa or the Digital Nomad visa, which are not linked to property ownership.
How long does a Turkish real‑estate citizenship application take?
After the required three‑year holding period and once all documents are verified, the Turkish authorities usually issue citizenship within 3–4 months.
Do I need to live in the country to keep my property‑based residence permit?
Requirements vary. Greece’s Golden Visa has no minimum stay, but you must retain the investment. Portugal’s D7 visa requires proof of sufficient income and a modest presence. Montenegro’s renewable residence also does not mandate continuous physical presence, while Turkey’s citizenship is unconditional after the three‑year hold.
