What the €250,000 conversion route covers
A low asking price or a newly renovated interior does not establish a Golden Visa route. For the change-of-use route, the investment concerns one property acquired for at least €250,000, with its main spaces changed to residential use. The 120 m² minimum used for the standard property routes does not apply here. The conversion must meet the applicable timing rules and be completed before the residence application. The buyer or seller may carry it out. These are route conditions, not an assessment of a particular listing.
The official MITOS procedure sets out the requirements. For a comparison with the standard investment routes and the separate listed-building route, use our investment thresholds and purchase-budget guide.
Conversion is not ordinary renovation
Replacing a kitchen in an existing apartment and changing a property's legally recorded use are different questions. Start with the property's documented previous use and the act supporting its change to residential use. Ask your independent engineer to identify the exact unit and relevant records; photographs, renders and a project-wide brochure cannot answer that question.
The Ministry's Circular 9/2024 explains the post-5 April 2024 timing and the special rule for industrial buildings: no installed and operating industrial activity during at least the preceding five years. Earlier permits and later updates require a document-specific review; do not infer suitability from the permit's headline date alone.
The property evidence to request before a commitment
Use this as a purchase-preparation worksheet. It does not replace the complete immigration application checklist. The official documentation decision, Government Gazette B 6014/2025, section 2.6, describes the conversion evidence and supporting property records.
| Record or question | What your advisers should clarify |
|---|---|
| Exact apartment and proposed deed | Which legal property is being sold? Reconcile its identity across the offer, plans and title records. |
| Engineer's change-of-use report and supporting act | Which permit, update or revision supports residential use of the main spaces? What establishes the relevant timing? |
| Industrial-building history, where applicable | Which records support the required period without industrial activity? Flag this early rather than after paying. |
| Notarial certificate and payment record | Check the parties, property, price and payment details, including whether the seller previously used the property for a Golden Visa. |
| Registration evidence | Confirm the registration status and which permitted form of evidence applies to the initial application. |
| Outstanding works and handover schedule | List what remains, who must deliver it, and what the purchase contract says if delivery or documents are delayed. |
Keep each item marked received, requested or not yet confirmed. Receiving a file is not the same as your adviser accepting its contents. Do not assume that a seller's previous permit transfers to you.
A practical sequence from shortlist to application
- Define the brief. Write down your total available budget, intended use, preferred location and timing. Say whether you already have a unit in mind.
- Compare the exact units. Request the same evidence from each seller. Separate project-level descriptions from information about the apartment you would buy.
- Resolve the gaps before committing. Have your independent lawyer and engineer review the proposed route, documents and reservation terms. Identify missing items and contractual responsibilities.
- Track purchase, conversion and application separately. Use a written schedule with named responsibilities. Confirm with your advisers that the necessary conditions and documents are satisfied before filing.
For a personalised list of questions to take into that discussion, build your property-check checklist. The tool helps organise your answers; it does not approve a property or application.
Compare total cost, not just the advertised starting price
Use one column per exact apartment. Leave an unquoted cost visibly unknown instead of entering zero. This comparison is a planning method, not a fee quotation or a rule about which spending qualifies as the investment.
| Budget line | Question for the written proposal |
|---|---|
| Exact-unit purchase price | Is this the price of the apartment under discussion or a project starting price? |
| Conversion and remaining works | What is included, excluded, unfinished or subject to a separate agreement? |
| Transaction costs | Which taxes, registration charges and professional fees have been quoted for this transaction? |
| Application and family costs | Which applicant-specific charges, insurance, translations and professional fees remain to be confirmed? |
| Handover and ownership reserve | What must be budgeted for furnishing, utilities, ongoing costs and any period before the property can be used? |
Build a purchase-budget worksheet using your own figures. Do not add an assumed rental return to make an otherwise unaffordable purchase appear affordable.
Check your intended use before relying on rental income
The Ministry's Circular 9/2024 describes restrictions on short-term letting and subletting for the relevant Golden Visa properties, and on using conversion-route property as a business headquarters or branch. Have your advisers confirm the rules applying to your proposed acquisition before assuming holiday-rental or business use. Our ownership and rental-return guide separates operating assumptions from the residence decision.
Turn the research into a property discussion
Send mamaXO your budget, preferred area, intended use and purchase stage. If you have a project or apartment in mind, name it. We can discuss property options and the information to request for a useful comparison. Your independent advisers should verify the legal and technical position of the exact unit.
Discuss my conversion-property search or explore the property catalogue. Catalogue inclusion and a price above €250,000 are not an eligibility certificate.
Sources checked on 24 September 2026. This guide concerns purchase preparation for the change-of-use route, not the separate listed-building restoration route or a legal determination for your circumstances.
