From Miami to Athens just a golden visa away

After a two-year delay due to the pandemic, it was time for Nick Hados and his husband, Ken Cook, to find an apartment where they could retire.

The couple, who live in Miami’s Little Havana, fell in love with Athens, the New York Times reports, while vacationing there in a tiny pied-à-terre they’ve owned since 2016. But as of early 2022, they wanted something big enough to live there permanently.

The right apartment would also be their ticket to get a residence permit from Greece.

As American citizens, they could not move to a European Union country, which limits tourist visas to 90 days.

But if they spent €250,000, or about $267,000, in cash on Greek real estate, they could qualify for a five-year renewable visa, known as a golden visa, so they could live in the country year-round.

The New York Times notes, however, that starting in May, buyers will have to invest 500,000 euros in certain parts of the country, including Athens, to get the golden visa.

“We like to travel and we wanted to be somewhere where we can fly to Rome or London or wherever,” said Cook, 58, a retired corporate quality director. “We said okay, let’s do it.”

The couple had bonded with Athens, a vibrant city with a rich history and a “family” city, embracing everyone, from the very young to the very old.

Wander down a narrow, winding street and you’re as likely to come across a Byzantine church as you are to pass a family out for dinner at 10 p.m. or a couple dancing in the neighborhood park, the New Yorkers point out in the Times article.

The country held special meaning for Hados, 59, who is of Greek descent and speaks the language.

“It’s full of creativity. There are a lot of young people, a lot of energy,” said Hados, an architect. “In Miami, older people don’t go out, but here they do. People of all ages are out and about at all hours of the day or night.”

The couple also saw Greece as a place to retire economically, i.e. with a lower cost of living.

As retired Greek residents, they could spend less money on taxes, food, health care and other living expenses.

The couple set their sights on Pagrati, a trendy neighborhood in central Athens favored by artists and full of restaurants, cafes, parks and urban gems like the National Gallery of Athens.

The hilly neighborhood also has streets with fantastic views of the city, and Hados wanted an apartment with views of the Acropolis and the Parthenon.

“It’s like having a view of the Eiffel Tower,” he said. “It’s Greece.”

So in January 2022, they sold a commercial property in Miami, securing the funds to pay for an apartment.

With money in hand and their options narrowed down to a few candidates they picked up online, the Hados flew to Greece in February to look for the perfect home.

A breathtaking view

While the bright and airy living room apartment – one of their choices – was the largest and had an excellent floor plan, the balcony was so narrow that Hados and Cook worried it would be useless.

“It’s all about being out here,” observed Cook one morning in January, sitting at an outdoor cafe with Hados in Psirri, a quirky Athens neighborhood with winding streets full of spice shops, bars, restaurants and art.

While the crowd-pleasing terrace apartment had plenty of outdoor seating and notable natural light, it didn’t have a view of the Acropolis – a disappointment for Hados.

For him, the decision was obvious: he wanted the apartment with the amazing view. “As soon as I walked in, I fell in love with it,” he said. “This view costs $100,000.”

The couple’s offer of €280,000 was accepted and the apartment closed in July 2022, while renovation work began a month later.

By January 2023, the apartment had been “razed” to its foundations.

A pile of bricks was in the living room – the material will be reused to build new walls.

The couple had torn down the “cramped” entrance, combining it with the living room, dining room and kitchen, to create a great room with a new window that will bring more light into the space.

The kitchen, moved to an exterior wall, will open onto the terrace, creating an indoor/outdoor kitchen with a bar.

One of the two bedrooms will serve as a versatile sitting room or guest room.

And they intend to use their pied-à-terre, which is a 10-minute walk from their new apartment, as a guest house for friends and relatives.