A second home in a foreign country can serve multiple purposes: a place to relax, a family retreat, or a long-term investment that generates income and capital growth. Beyond these benefits, property ownership in certain jurisdictions can also provide a path to legal residency. These residency routes, commonly known as Golden Visas, allow individuals to secure residency through real estate or other qualifying investments. However, the specific rules and conditions vary widely across countries.
Foreign Property Investment that Leads to Residency
When buying property abroad, investors typically follow one of two approaches. The first is personal use: securing a safe and comfortable place to live, study, or spend time with family. An alternative home can also function as a contingency option in times of regional or political uncertainty. The second approach focuses on income generation, where the property is rented, either long-term or, where allowed, short-term, to earn passive income and benefit from potential value appreciation. In both scenarios, the ability to obtain residency through a Golden Visa program adds meaningful long-term value to the investment.
National regulations on property acquisition by foreigners are changing rapidly, and accuracy is essential. Several well-known residency and citizenship programs have recently closed or undergone major reforms. Spain officially ended its Golden Visa in 2025, while Malta’s citizenship by investment (CBI) scheme was discontinued following a ruling by the Court of Justice of the European Union. This decision eliminated one of Europe’s last true CBI pathways and effectively signaled the end of such programs within the EU. Malta’s Permanent Residence Programme (MPRP), however, remains active and continues to attract investors seeking a reliable EU residence option. Portugal also removed real estate from its Golden Visa in 2023, shifting applicants toward fund-based and alternative investments. More recently, Portugal tightened its naturalization laws, extending the residency requirement for citizenship from five to ten years, and to seven years for nationals of Portuguese-speaking countries.
Greece remains one of the strongest real estate–based residency options in Europe. Its Golden Visa grants residency to buyers who invest in qualifying properties, with thresholds starting at €250,000 in certain cases and designated areas and rising significantly—up to €800,000—in high-demand urban and tourist zones. The residence permit is valid for five years and can be renewed indefinitely as long as the investor retains the property. Greece also does not impose a minimum-stay requirement to maintain residency, which is a major advantage for globally mobile individuals.
At the same time, Greece has tightened its rules on short-term rentals. New regulations restrict or fully prohibit the use of Golden Visa properties for Airbnb-style rentals, depending on the area and zoning category. This has a direct impact on rental yields and requires investors to rely on long-term rental strategies or personal use instead. Anyone planning to generate income from short-term stays must carefully verify local regulations before purchasing.
Cyprus offers a viable option for long-term residence through real estate investment. Under its current framework, non-EU buyers who purchase newly built residential or commercial real estate valued at least €300,000 from approved developers can apply for a residence permit. Cyprus is expected to join the Schengen Area in 2026, further increasing international interest in its Golden Visa program.
Latvia has historically offered a real estate–based residence permit requiring a minimum investment of €250,000. While the framework technically remains in place, the program has faced increasing political scrutiny, including discussions about phasing out investment-based residence routes and restrictions on applicants from certain countries. As a result, although Latvia continues to attract interest due to its low entry threshold, investors should proceed with caution and verify all the details before commitments.
Hungary, meanwhile, has re-entered the investment migration market with its new Guest Investor Visa, introduced in 2024. The program grants a ten-year residency (renewable for another ten years) through investments in government-approved real estate funds or through direct donations. The minimum qualifying amount is €250,000 for the fund-linked option and €1 million for the donation route. Notably, the program does not allow direct real estate purchases for residency; investments must be channeled through authorized Real Estate Investment Funds.
Outside Europe, the United Arab Emirates offers one of the most attractive real estate–based residency options. Investors who purchase property valued at AED 750,000 (roughly $205,000) or more can obtain a two-year residence permit, while those investing AED 2 million (roughly $545,000) qualify for the ten-year UAE Golden Visa. Eligible properties may be residential or commercial, completed or off-plan, mortgaged or unmortgaged, as long as they are located in designated Freehold Zones, which guarantee full ownership rights. The UAE’s property market, especially in Dubai, continues to deliver strong rental yields and long-term capital growth, making real estate an appealing lifestyle and financial investment. Residency processing is fast, family inclusion is generous, and physical presence requirements are minimal. However, renewal rules and administrative requirements can vary by emirate, so investors should confirm specific conditions before purchasing.
Citizenship in Exchange for Property Investment
Türkiye offers direct citizenship to those foreign investors who purchase real estate valued at least $400,000. The property must be kept for at least three years. Eligible assets may include residential or commercial premises, and multiple properties can be combined to meet the threshold, as long as all are properly registered and compliant with government regulations. The program has attracted strong global demand due to its straightforward process and fast timelines. However, regulations and valuation requirements are updated frequently, and the government has periodically signaled tighter controls. For this reason, investors should carefully verify up-to-date rules, conduct independent valuations, and ensure their chosen property fully meets citizenship eligibility criteria.
Considerations Before Investing
Short-term rental restrictions have become a major factor in evaluating returns from property-based residency strategies. In markets where Airbnb or similar platforms are restricted, projected yields can drop significantly. Investors should therefore calculate two scenarios before committing: one based on long-term rentals only, and another assuming zero rental income if the property is intended for personal use. Long-term rentals tend to offer lower but more stable income, while personal-use properties deliver lifestyle benefits rather than direct financial returns.
Mandatory-stay requirements also shape the decision-making process. Some jurisdictions, such as Greece, allow residency to be maintained with minimal or no physical presence, as long as the qualifying investment is preserved. Others, like the UAE, require periodic entry or specific renewal steps connected to property ownership. Turkey’s citizenship route also has flexible stay rules but involves several procedural stages that must be followed. Understanding these obligations helps avoid accidental permit lapses or delays in future citizenship eligibility.
Before purchasing property with the intention of obtaining residency, investors should follow a rigorous due diligence checklist. First, confirm that the desired program is active and still accepts real estate as a qualifying route—something that can no longer be taken for granted. Next, review local rental regulations, especially if short-term rental income forms part of the investment strategy. Yield projections should be conservative and incorporate taxes, maintenance, management fees, and vacancy rates. Investors should also assess the broader political and economic environment to gauge long-term stability. Finally, they should verify renewal requirements and any physical-presence rules needed to keep the residence permit valid.
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A second home offers more than just financial returns. It provides safety, flexibility, and the freedom to relocate when circumstances demand. It serves as a hedge against uncertainty and a long-term asset that can benefit both current and future generations. However, its true value emerges only when investors fully understand the nuances of residency requirements, rental regulations, and compliance obligations. In today’s turbulent world, purchasing a second home is no longer merely a real estate decision; it is a strategic choice that unites lifestyle, mobility, and long-term financial planning.