Golden Visa €250,000: How Converting Commercial Property into Residential Creates Real Investment Opportunities

1. Which properties qualify — and which do not

Eligible property types for conversion into residential use include:

• office spaces,

• former professional premises,

• retail units (under specific conditions),

• sections of commercial buildings,

• former hotel properties.

❌ Warehouses cannot be converted into residential units and are not eligible for Golden Visa purposes.

The change of use must be urban-planning compliant and fully completed before the Golden Visa application is submitted.

2. The real investment model behind the €250,000 Golden Visa

This strategy is not designed for the end buyer, but for investors and small-scale developers.

In practice, the model works as follows:

• the investor acquires one or multiple commercial units,

• the total acquisition and conversion cost is kept at or below €200,000,

• the property is legally converted into residential use,

• the final residential unit is sold to a Golden Visa buyer at €250,000.

The value creation comes from the conversion and proper asset selection, not from the residency permit itself.

3. Why this model is attractive to investors

This strategy offers:

• relatively low capital entry,

• a clear exit price (€250,000),

• strong international demand,

• a defined and predictable exit,

• controlled market risk when executed properly.

The investor does not sell a promise —
they sell a finished, legal residential property that qualifies for the Golden Visa.

4. Realistic cost structure

A typical example:

• Commercial property acquisition: €140,000 – €170,000

• Studies, permits, engineers: €10,000 – €15,000

• Conversion & renovation works: €20,000 – €40,000

➡️ Total investor cost: up to €200,000
➡️ Final selling price: €250,000

This margin is what makes the model viable.

5. Critical factors that determine project success

Projects fail when:

• properties are acquired without prior urban-planning checks,

• layouts cannot support quality residential use (light, ventilation),

• timelines and costs are underestimated,

• no clear sales strategy exists.

Success is 90% asset selection.

6. The final product matters more than the Golden Visa

While the Golden Visa may be the initial motivation,
the real value lies in the final residential product.

The end buyer acquires:

• a real home,

• with proper construction quality,

• functional layout and natural light,

• a location with genuine rental demand,

• and the ability to generate solid rental income in the future.

Golden Visa properties that lack these qualities:

• struggle to rent,

• face price pressure on resale,

• and lose value over time.

By contrast, when quality and location are right,
the buyer secures stable yield and long-term capital appreciation, regardless of the residency program.

7. Why expert guidance is essential

Commercial-to-residential Golden Visa projects require:

• deep market knowledge,

• experienced engineers for change-of-use approvals,

• legal oversight of the Golden Visa file,

• precise cost and timing coordination.

At Poli Real Estate, we structure these projects from the investor’s side:
asset sourcing → feasibility checks → conversion → placement with the final Golden Visa buyer.

Conclusion

The €250,000 Golden Visa is not a mass-market product.
It is an investment tool for those who know how to execute it correctly.

Commercial-to-residential conversion projects:

• remain legal and active,

• attract strong demand,

• create real value,

• but require accuracy, experience, and proper planning.

If you are considering developing or placing Golden Visa projects through change of use, contact Poli Real Estate before acquiring any asset. The right decision at the start defines the entire investment.