Greek Intelligence investigates Turkish real estate investments in Thrace and Aegean Islands
The Hellenic National Intelligence Service (EYP) and the Anti-Money Laundering Authority have launched an investigation into Turkish investors' real estate acquisitions in Thrace and the Eastern Aegean islands. According to a report by TA NEA, at least 20-30 "high-interest" Turkish investors have been in the process of acquiring properties in these border regions since the summer of 2023.
Growing Interest in Thrace and the Islands
Greek authorities are closely examining the sudden and increasing interest of Turkish investors in these regions, questioning whether such acquisitions serve "suspicious purposes." A key concern is the Golden Visa program, which grants residency in Greece and, consequently, free movement within the Schengen Area to investors who purchase property.
Focus on the "Muslim" (Turkish) Community and Financial Transactions
The EYP’s investigation extends beyond property transactions. Authorities are also scrutinizing financial movements involving at least ten "Muslim" (Turkish) citizens in Western Thrace. Reports suggest that large sums of money have been collected through associations and foundations, allegedly transferred via a European capital city to an Arab organization.
Property Acquisitions Raise Concerns
Turkish investors have been purchasing land and old houses, particularly in Alexandroupoli, Komotini, Orestiada, and nearby villages. Local officials fear these acquisitions could alter the region’s demographic, social, and cultural balance.
There are also claims that industrial facilities and hotels acquired by Turkish investors have had their equipment relocated to Turkey, while labor forces in these enterprises are being gradually replaced with members of the Muslim community.
Turkish Investments by the Numbers
According to Greek authorities:
Turkish investors purchase over 1,000 properties in Greece annually.
The number of Turkish investors holding Golden Visas rose from 525 in 2021 to 1,367 in 2024.
Between 2021 and 2023, 1,432 applications were submitted from Türkiye. Currently, 1,934 applications are under review.
If approved, the number of Turkish investors in Greece will increase by 500%.
Suspicious Fund Sources Under Scrutiny
In collaboration with the Anti-Money Laundering Authority, EYP is closely monitoring the financial sources and investment movements of Turkish investors on a monthly basis. Cross-border financial transactions and corporate mergers are being analyzed under relevant EU regulations.
While authorities have yet to confirm any centralized coordination behind these investments, the investigation remains ongoing. The Greek government has activated all intelligence and regulatory mechanisms to assess whether any elements pose a potential national security threat.
