Sharp rise in Turks getting Golden visa in Greece

Turkey, property in Greece

The number of Turkish investors buying real estate in Greece and receiving a residency permit that comes with the investment has risen sharply since Turkey’s failed coup in July, according to a Greek press report.

Like other European Union countries, Greece awards a five year residency permit to investors (and their families) coming from non EU countries when they proceed with an investment of more than 250,000 euros. The permit can be renewed in a program called the Golden Visa.

Citing data from government investment agency Enterprise Greece, CNN Greece said that 28 Turkish nationals had been given the residency permit in Greece in the last nine months, up from 23 in the previous period from 2004 to February 2016.

This translates into an average of 3 Turkish nationals buying a home in Greece per month, spending at least 750,000 euros in the Greek real estate market, the report added.