Turkish nationals spent $2.51 billion on purchasing real estate abroad in 2024, up 20.5 percent from the previous year, with most properties bought in Greece and Dubai, according to the balance of payments data from Turkey’s Central Bank.
In the first month of 2025, this figure was $144 million.
The annual real estate acquisition by Turks in foreign countries amounted to around $130 million five to 10 years ago, but that figure has increased significantly over time, said Bayram Tekçe, chairman of the Real Estate Services Exporters Association (GİGDER).
The primary reason for purchasing a home abroad is to obtain a golden visa, enabling individuals to travel freely, Tekçe explained to Turkish daily Hurriyet.
“Greece is especially favored due to its golden visa program, which grants access to all European countries for an investment of 250,000 euros,” he said.
As a second reason, Tekçe highlighted that people who see real estate as an investment are increasingly turning to abroad to make financial gains by renting out their properties.
Concerns raised in Greece about Turkish real estate acquisitions at Evros
Concerns were raised recently in Greece over the rise of Turkish real estate acquisitions, particularly in the region of Evros on the border with Turkey.
Over the past eight months, more than 100 Turkish citizens have acquired dozens of properties near Evros and on Aegean islands, marking a remarkable increase.
The National Intelligence Service (EYP) and the Anti-Money Laundering Authority initiated an investigation into the escalating property acquisitions by Turkish nationals due to fears that these real estate acquisitions might be part of an effort to colonize parts of Greece’s eastern border region with Turkey.
In a parliamentary session on March 27, 11 members of the ruling New Democracy (ND) party posed a formal query to seven ministers of the government regarding what they referred to as the “aggressive” acquisition of real estate and businesses by Turkish buyers in the border regions.
EYP is reportedly investigating whether the recent surge in real estate acquisitions by Turkish-linked entities is part of a broader geostrategic agenda orchestrated by Ankara, or if these purchases are simply driven by the demand for golden visas and the growing tourist appeal of Evros and Greece as a whole.
A report from Action 24 TV highlighted specific instances such as land and abandoned houses being sold on the western banks of the Evros River near Didymoteicho and Orestiada. Additionally, a hotel in Alexandroupolis has been purchased by a Turkish investor and is currently undergoing renovations to become a luxury establishment.
There are also claims of investments by Turkish-led real estate firms in villages where there historically hasn’t been a Muslim population. This trend has raised significant concerns about potential long-term implications for the region’s demographic and economic landscape.
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