Historic record in Turkish investments in Greece
Turkish investments in Greece reached $548 million in 2024, marking a historic record. While the Golden Visa program and tourism saw a surge, Turkish investors ranked second in applications.
In recent years, there has been a significant increase in direct investments from Turkey to Greece. As of 2024, Turkish investments in Greece reached $548 million, marking a substantial rise compared to previous years. At the same time, demand for Greece’s real estate-based Golden Visa program also hit record levels. Turkish investors became the second-largest group of applicants, following the Chinese.
TURKISH DIRECT INVESTMENTS REACH $548 MILLION
According to data from the Central Bank of the Republic of Türkiye (CBRT), Turkish direct investments in Greece, which had nearly dropped to zero in 2015, surged to $548 million by 2024. This represents a remarkable increase from €52 million in 2022 and $203 million in 2023. The growth in investments highlights the strengthening interest of Turkish investors in Greece.
TURKISH INVESTORS RANK SECOND IN THE GOLDEN VISA PROGRAM
Greece’s Golden Visa program, which offers residency to foreign investors who purchase real estate, continues to attract significant attention from Turkish citizens. In 2024, Golden Visa applications increased by 10% compared to the previous year, reaching 9,289 applications. Chinese investors topped the list with 9,130 applications, while Turkish investors followed with 1,356 applications.
REAL ESTATE INVESTMENTS GRANT RESIDENCY PERMITS
Foreign investors looking to obtain a Greek residence permit can benefit from the program by purchasing properties valued between €250,000 and €800,000. Unlike many European countries, the Greek government has not imposed restrictions on the Golden Visa scheme, making it a highly attractive option for investors.
SURGE IN FERRY TRAVEL AND TOURISM
Ferry travel between Turkey and Greece witnessed a record-breaking increase in 2024. The number of passengers traveling by ferry to Greece soared by 93%, reaching 1,153,727 people. In comparison, the number stood at 416,000 in 2022 and 804,000 in 2023. This rise signals a strengthening of tourism and trade relations between the two countries.
REAL ESTATE INVESTMENTS IN GREECE EXCEED €2.3 BILLION
Greece continues to attract foreign investors, with real estate investments surpassing €2.3 billion in 2024. The Greek government’s supportive policies in the real estate sector have contributed to making the country an increasingly popular investment destination.
TÜRKİYE’S OVERSEAS INVESTMENTS RISE BY 11%
By 2024, Turkey’s total direct overseas investments increased by 11%, reaching $6.6 billion. Of this amount, $2.1 billion was allocated to real estate investments, while portfolio investments surged by 407% to $9.5 billion. These developments indicate that Greece’s investment opportunities are becoming increasingly appealing to Turkish investors.
