Greece Raises Concerns Over Surge in Turkish Golden Visa Property Investments
Concerns Grow in Greece Over Rising Turkish Investments Through Golden Visa Program
In 2024, Greece received a total of 9,289 Golden Visa applications, with 1,356 of them submitted by Turkish citizens, making Türkiye the second-largest source of applicants under the program. The scheme, which grants residency rights in exchange for financial investment—most notably in real estate—also allows visa holders free movement across the Schengen Area.
Concerns Over Potential Security Risks
While the Golden Visa Program remains an attractive option for many investors, Greek authorities have voiced concerns about its growing use by Turkish nationals. According to a report by Deutsche Welle (DW), there are fears that some applicants may have ulterior motives, including potential espionage or criminal activities masked as legitimate investment.
Greece’s intelligence services (EYP) have reportedly intensified scrutiny of recent foreign property acquisitions, particularly those involving Turkish citizens, amid increasing public concern over national security.
Profile of Turkish Investors in Greece
According to DW, most Turkish investors acquiring property through the Golden Visa Program are wealthy, non-religious individuals who are either fleeing Türkiye’s political climate, seeking secular freedom, or simply view Greece as an attractive and stable investment destination.
Additionally, a growing number of property buyers in regions like Thrace are Turkish-born European Union nationals, many of whom previously worked and lived in countries like Germany, Belgium, and the United States. These individuals often view Greece as an ideal location for retirement, favoring the EU lifestyle over the increasingly restrictive political and religious environment in Türkiye.
Spotlight on Evros Region Raises Alarm
Particular attention has been drawn to real estate transactions in Greece’s northeastern Evros region, which borders Türkiye. In March 2025, the Mayor of Alexandroupolis, Giannis Zouboukis, publicly voiced concern over the rising number of property purchases by Turkish nationals, questioning the motivations behind these acquisitions.
Reports from Action 24 TV suggest that Greece’s intelligence agency has launched an investigation amid fears that this trend could be part of a coordinated effort to exert influence or establish a presence along Greece's eastern border.
Turkish Overseas Property Investment on the Rise
According to figures from the Central Bank of the Republic of Türkiye (CBRT), Turkish investment in foreign real estate rose by 20% in 2024, reaching €2.336 billion ($2.513 billion). Greece and the UAE emerged as top destinations for these investments, with the Golden Visa Program acting as a major driver of cross-border property deals.
Greece’s Golden Visa Program: An Overview
Greece's Golden Visa Program offers residency to non-EU nationals who make qualifying financial investments. The most popular route is the real estate investment option, which allows residency for those purchasing property valued at €250,000 or more, depending on the region.
Despite its economic benefits, the growing participation of Turkish nationals has sparked calls for tighter oversight and reforms, particularly in strategic border regions.
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