Second Largest Investor Group in Greece: Turks

Greece’s Golden Visa program has become one of the most attractive residency-by-investment schemes in Europe. Offering residency to investors and their families in exchange for significant investment in Greek real estate, this program has gained immense popularity among global investors. Turkish investors, in particular, are the second-largest group after Chinese nationals. Below are detailed insights highlighting the current trends, processing statistics, and benefits of the Greek Golden Visa program.

According to the latest data from the Greek Ministry of Migration, a significant number of initial and renewed permits are active. The program is predominantly popular among Chinese investors, followed by those from Turkey, Russia, Lebanon, Iran, Egypt, and other countries. The initial permits stand at 12,849, while the renewed permits are at 3,578. These numbers demonstrate the program’s strong appeal and high retention rate.

As of December 2023, the number of valid Greek Golden Visas, both initial and renewed, continues to rise steadily. This growth reflects increasing investor confidence and interest. The majority of these visas are held by Chinese nationals, with Turks, Russians, Lebanese, Iranians, and Egyptians also showing significant participation.

A regional breakdown of pending Golden Visa applications reveals that the majority are concentrated around Athens, the capital city, highlighting its desirability among investors. Other regions with notable pending applications include Northern Greece, the Peloponnese, and the islands of Crete and the Cyclades, each offering unique investment opportunities and lifestyle benefits.

Analyzing the applications and approvals from 2018 to 2024, there is a noticeable surge in applications in recent years, particularly in 2023, with 8,506 applications filed. This surge can be attributed to Greece’s stable economic recovery and attractive investment climate. Approvals have also kept pace, with 3,988 approvals in 2022 and 2,807 in 2023, ensuring the program remains responsive to investor needs.

Comments from Notte Global Founder Yusuf Boz

Yusuf Boz, founder of Notte Global, shared his insights on Greece’s Golden Visa program:

“Greece’s Golden Visa program offers a highly attractive opportunity, especially for Turkish investors. The program’s flexibility, low investment threshold, and the high quality of life in Greece attract significant interest from Turkish investors. Real estate investments in Athens and other key regions not only provide residency permits but also offer high-return investment opportunities. Greece, with its historical and cultural richness, strategic location, and economic growth potential, is an ideal destination for investors.

Athens, in particular, stands out with its developing infrastructure and dynamic real estate market. Turkish investors are capitalizing on the opportunities in Athens, securing residency permits and achieving solid investment returns. Moreover, the investor-friendly policies of the Greek government and fast processing times expedite decision-making for investors. By leveraging these advantages, Turkish investors can secure both their personal and professional futures in Greece.

Investment opportunities in Greece are not limited to real estate. The country also offers significant potential in tourism, agriculture, and technology sectors. This diversity allows investors to broaden their portfolios and mitigate risks. Turkish investors can secure their future and that of their families by tapping into these multifaceted opportunities Greece offers.”

Conclusion

Greece’s Golden Visa program presents an unparalleled opportunity for investors seeking residency in Europe. With its rich cultural heritage, strategic location, and promising economic prospects, Greece continues to attract a diverse array of investors. The ongoing growth in applications and the rising backlog highlight the program’s success and the strong global interest in Greek residency. Prospective investors are encouraged to explore this lucrative program to secure their place in one of Europe’s most dynamic and beautiful countries.