Surge in Property Purchases by Turkish Nationals in Greece for Golden Visa Residency

As political and economic challenges continue to affect Turkey, many of its citizens are turning toward more stable and secure destinations in Europe—especially Greece, where a growing number of Turkish nationals are buying real estate to obtain a Golden Visa.

New data from 2024 highlights a sharp uptick in Greek property acquisitions by Turkish investors, with most aiming to benefit from the long-standing Golden Visa residency program. This trend reflects a broader shift toward strategic migration, wealth preservation, and access to the European lifestyle.

Why Turkish Investors Prefer Greece

Several factors explain why Greece has become a favored Golden Visa destination for Turkish nationals:

• Geographic and cultural proximity: Traveling and adjusting to life in Greece is easier for Turks than relocating to more distant parts of Europe.

• Political stability and access to EU benefits: Greece offers a safe haven, access to European healthcare and education systems, and visa-free travel within the Schengen Zone.

• Flexible residency terms: Golden Visa holders are not required to live full-time in Greece and can retain residency by visiting only a few days per year.

Additionally, Greece’s program is becoming increasingly appealing as other nations like Spain and Portugal tighten or phase out their real estate residency routes.

Real Estate Investment Trends in 2024

In 2024, the number of Turkish nationals investing in Greek property for Golden Visa purposes grew by over 30% compared to the previous year. This surge is particularly notable in:

• Athens (especially the southern suburbs and city center)

• Thessaloniki

• Greek islands like Crete, Kos, and Rhodes

• Northern Greek regions close to the Turkish border

These locations offer not only lifestyle appeal but also strong real estate appreciation potential.

How the Greek Golden Visa Works

To qualify for Greece’s Golden Visa, Turkish citizens must:

• Invest at least €250,000 in real estate (or €500,000 in high-demand areas like central Athens, Mykonos, or Santorini)

• Maintain property ownership to keep their residency status

• Renew their five-year residency permit periodically

• Include immediate family members (spouse and children under 21) in the same application

• Apply for Greek citizenship after seven years of legal residence

With minimal stay requirements and full Schengen access, the Greek Golden Visa remains one of the most accessible and attractive options in Europe.

Rising Prices and Stricter Oversight

The growing interest from foreign buyers, particularly Turkish and Chinese nationals, has led to noticeable price increases in many parts of Greece. In response, the Greek government has implemented new policies in 2024, including:

• Raising minimum investment thresholds in popular urban and island areas

• Introducing stricter oversight on the source of funds and investor profiles

• Enhancing due diligence to ensure real estate transactions are legitimate and in the country’s best interest

Despite these changes, Greece’s Golden Visa continues to offer a competitive pathway to EU residency.

What to Expect in 2025

As Spain prepares to fully phase out its Golden Visa program and Portugal focuses on non-real estate routes, Greece is quickly becoming Europe’s primary real estate residency hub. Experts expect continued growth in 2025, especially from Turkish citizens seeking a safe, Euro-based investment outside of their home country.

Real estate consultants recommend acting quickly, as future changes may further limit eligible areas or increase the minimum investment requirement.

Expert Insight from Notte Global

According to Yusuf Boz, founder of international investment consultancy Notte Global:

“We’re witnessing a wave of Turkish investors choosing Greece for its strategic location, stable EU environment, and attractive investment potential. If you’re considering a European residency, the time to act is now—before more changes come into play.”

Notte Global specializes in Golden Visa programs across Europe, offering investors tailored advice, legal guidance, and exclusive access to vetted properties in Greece, Portugal, and beyond.