A surge from Turkey to Greece

Investments from Turkey to Greece and applications for the golden visa program, which provides residence permits, reached a peak in 2024. According to Central Bank (TCMB) data, Turkey's direct investments in Greece, which were 52 million Euros in 2022, rose to 203 million dollars in 2023 and 548 million dollars in 2024. In 2015, this figure was close to zero.

TURKS RANK SECOND AFTER THE CHINESE

Greece's golden visa program, which grants residence permits in exchange for real estate, continues to attract the interest of Turkish investors. In 2024, golden visa applications increased by 10% compared to the previous year, reaching 9,289. While the Chinese ranked first with 9,130 golden visas, Turks came in second with 1,356 applications.

Foreign investors applying for the golden visa program can obtain a residence permit by purchasing real estate in Greece valued between a minimum of 250 thousand and 800 thousand Euros, depending on the region. In 2024, real estate expenditures made by foreign investors in Greece exceeded 2.3 billion Euros.

BOOM IN TOURIST NUMBERS AND INVESTMENTS 

The number of passengers traveling from Turkey to Greece by ferry also showed a significant increase. In 2024, ferry trips increased by 93%, reaching 1 million 153 thousand 727 people. This figure was recorded as 416 thousand in 2022 and 804 thousand in 2023.

While direct investments made abroad in 2024 increased by 11% to reach 6.6 billion dollars, 2 billion 153 million dollars of this was directed toward real estate. Portfolio investments, on the other hand, reached 9.5 billion dollars with a massive increase of 407%.

Steps taken by some countries in Europe to restrict or abolish their golden visa programs have caused investors to turn their routes toward Greece.