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Turks Can Now Buy Real Estate on Greek Islands

Greece has revoked a restriction on the sale of border-area real estate to non-EU nationals, effectively making it possible for Turkish citizens to buy property on Greek islands.
Local delegations will be formed to authorize the sale of real estate near the country’s national borders, daily Hurriyet reported on its website. Greek real estate laws define all Aegean islands across from the Turkish coastline as ”border area”.  These islands include the Dodecanese islands, Lesbos, Samos, Chios and Crete.
Real estate on these islands and in the Greek city of Thessaloniki will be available for purchase to Turkish citizens, as well other non-EU nationals. IMF and the European Union had made it mandatory for Greece to quickly sell real estate and complete the privatization of government-owned enterprises in exchange for providing an additional 60 billion euros in credit to the crisis-hit country.

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