Over the past three years, Turkish investors have invested approximately EUR614 million in Greek real estate, significantly strengthening their presence in the housing market of their neighboring country. According to experts, the main motivation for buyers from Turkey has been the desire to protect their capital from high inflation, currency fluctuations, and domestic economic uncertainty. For them, Greek real estate serves not only as an investment asset but also as a way to gain access to the European residency program.
An additional factor is the Golden Visa program, which allows citizens of non-EU countries to obtain a residence permit in Greece through investment. Depending on the property and region, the minimum investment threshold ranges from EUR250,000 to EUR800,000, and the residence permit itself is issued for five years with the possibility of renewal provided the investment is maintained.
The growth in interest from Turkish buyers is particularly noticeable against the backdrop of an overall decline in foreign investment in Greek real estate. According to the Bank of Greece, foreign investment in this sector fell by 22% in 2025—to EUR2.05 billion, down from EUR2.75 billion the previous year. Despite the decline, 2025 remained one of the strongest years for the market in terms of foreign capital inflows.
For Greece, Turkish demand has a dual effect. On the one hand, it supports developers, the secondary housing market, and investments in tourist areas. On the other hand, it increases pressure on prices, especially in Athens, Thessaloniki, on the islands, and in coastal locations, where supply is limited and local residents are already facing housing affordability issues.
Turkish investors’ interest is also linked to geographical proximity. Greece is perceived as a familiar and relatively close market: tourism and business ties are developing between the countries, and the Greek islands remain a popular destination for Turkish citizens. Reuters previously reported that Greece had extended a simplified visa regime for Turkish citizens to a number of Aegean islands, which further bolstered ties between the two markets.
In the near future, Turkish capital is likely to continue playing a significant role in the Greek market.
Greek authorities are tightening controls on fraudulent schemes in the Golden Visa program following the issuance of a new circular, No. 1/2026, by the Ministry of Migration and Asylum. According to explanations regarding the circular and reports in industry publications, Greek authorities will now forward information about misleading advertising and fictitious investment deals to the AADE tax authority and the Greek anti-money laundering agency, and confirmed violations may result in sanctions up to and including the revocation of the investor’s residence permit.
The reason for tightening controls was schemes in which investors were formally shown a property that met the program’s minimum threshold, but part of the funds was then effectively returned through hidden discounts, prepaid lease agreements, compensation for furniture, or cash payments. Industry experts note that following the increase in program entry thresholds in September 2024, the market saw a rise in advertising offers for properties priced below the legally established minimum, which drew additional attention from the authorities.
The new circular is broader in scope than mere anti-fraud measures. According to explanations from lawyers and the industry press, the document also resolves discrepancies in the application of rules among regional offices, clarifies the application submission process, and establishes stricter oversight of whether properties and applicants meet program requirements. This is intended to simultaneously increase the predictability of administration and intensify pressure on questionable schemes.
This tightening comes amid continued high demand for the Greek Golden Visa. According to data cited in industry publications, the number of approvals reached 8,879 in 2025, nearly doubling from 4,535 the previous year. This makes the program one of the most sought-after in Europe, thereby increasing incentives for abuse in the real estate market.
Ivan Verbitsky, Ukraine’s Deputy Minister of Culture, discussed with Pantelis Alexandros Dimitrakopoulos, the Ambassador of the Hellenic Republic to Ukraine, the development of bilateral cooperation in the cultural sphere, particularly the preservation of cultural heritage, the exchange of expertise, and support for Ukrainian specialists.
According to a statement from the Ministry of Culture, the Greek side proposed launching cooperation with the European Center for Byzantine Studies, which specializes in the preservation of monuments, icons, and mosaics.
“We aim not only to talk about cooperation but to move toward concrete actions. In particular, we are considering the possibility of cooperation with the European Center for Byzantine Studies, which possesses the relevant expertise. We are ready to host Ukrainian specialists and cover the costs of their internships,” the press service quoted the ambassador as saying.
It is noted that the parties paid special attention to the issue of honoring the historical figure of Alexander Ypsilanti, who is associated with Ukraine.
In addition, the interlocutors exchanged views on potential cooperation within the framework of international cultural events, as well as the prospects for developing academic cooperation in the field of Ukrainian studies.
Ukrainians’ attitudes toward Greece are showing a moderately positive trend. According to the results of a public opinion poll conducted in March 2026 by the research company Active Group in collaboration with the Experts Club information and analytical center, the share of positive assessments stands at 52.7%, which is higher than the August 2025 figure (47.7%). At the same time, the level of negative perception remains low and fluctuates around 2.6% (compared to 2.3% previously).
The breakdown of responses indicates a predominance of moderately positive attitudes. 16.8% of respondents chose the option “completely positive,” while another 35.9% selected “mostly positive.” Thus, more than half of Ukrainians generally view Greece positively, although the intensity of this attitude remains less pronounced than in the case of leading European partners.
At the same time, a key feature is the significant share of neutral assessments—43.1%. This indicates that for a significant portion of Ukrainian society, Greece does not fall into the category of countries with a clearly formed emotional image. Negative assessments remain marginal: 2.6% of respondents indicated a “mostly negative” attitude, while the share of “completely negative” assessments is virtually nonexistent. Another 1.6% of respondents were undecided.
Comparative trends show that over the past six months, attitudes toward Greece have become more positive, though the changes are gradual. The increase in positive assessments occurred without a significant rise in negative ones, indicating a gradual strengthening of the overall perception of the country without sharp fluctuations in public opinion.
The high proportion of neutral responses indicates limited intensity of contact or informational influence. In such cases, positive dynamics develop more slowly than in countries that have a more noticeable presence in the political, economic, or humanitarian spheres for Ukraine.
“The results regarding Greece show that Ukrainians do not form strong opinions where interaction is less intense. In such cases, we see a combination of a moderately positive attitude with a large proportion of neutral responses. This means that the country’s image is still in the process of formation,” noted Oleksandr Pozniy, director of the research company Active Group.
Overall, the survey data indicate that Greece is gradually strengthening its position in Ukrainian public opinion, though the country’s level of engagement and influence on perceptions remains moderate. The primary potential for further improvement lies in shifting from a neutral to a more clearly positive perception.
According to a study conducted by the Experts Club information and analytical center based on data from the State Customs Service, Greece ranks 18th in total trade volume with Ukraine, amounting to $1.92 billion. Imports from Greece significantly exceed exports from Ukraine, resulting in a trade deficit of over $1.13 billion.
The study was presented at the Interfax-Ukraine press center; the video can be viewed on the agency’s YouTube channel. The full version of the study can be found at this link on the Experts Club analytical center’s website.
ACTIVE GROUP, EXPERTS CLUB, GREECE, Pozniy, SOCIOLOGY, SURVEY, UKRAINE, URAKIN
In Greece, from April 1, 2026, residential and commercial property rentals will only be payable by bank transfer to the landlord’s account. The measure is enshrined in amendments that postpone the launch date of mandatory cashless payments for rent to April 2026 and tighten controls on the declaration of rental income.
According to explanations provided by the Greek media and the regulations they refer to, payments must be made to an IBAN registered to the owner and declared to the AADE tax service. Payments to third-party accounts (relatives, lawyers, trustees, management companies) will not be recognized for tax purposes, and in the case of joint ownership, each co-owner will be required to provide their IBAN for the correct distribution of income.
Failure to comply with the rules will result in financial consequences for all parties to the transaction. Owners lose the standard 5% tax deduction on rental income; tenants lose their entitlement to housing benefits, including annual rent compensation of up to €800; businesses will not be able to count rent as an expense if they pay outside the banking system (as an example, there is a risk of losing €8,400 in deductible expenses per year when renting €700 per month).
The authorities link the innovation to the task of matching declared rental income with bank transactions and reducing the share of “gray” payments in the rental market, with AADE having to set up data collection from payment service providers to monitor compliance with the regime.
The Greek tax authority AADE is tightening control over short-term rentals through Airbnb, Booking.com, and Vrbo: owners and managers of properties must verify and finalize their 2025 income data in the short-term accommodation registry by February 28, 2026, including the distribution of income among beneficiaries, amounts, and the correctness of the property registration number (AMA).
According to AADE, 2.2 million initial declarations were submitted for 2025, and the total declared income amounted to EUR 870 million (+16% y/y). At the same time, tax authorities warn that if the data is not confirmed and corrected on time, it is possible that tax will be levied on 100% of the income specified in previous declarations, even if part of the amounts was not actually received (for example, due to cancellation of reservations).
From the beginning of March 2026, AADE will launch cross-checks based on data provided directly by the platforms. If unregistered properties or properties without AMA in the listings are found, sanctions will be imposed: fines ranging from EUR 5,000 to EUR 20,000, as well as removal of listings from platforms until the violations are rectified.
Against the backdrop of the segment’s growth, the authorities are tightening requirements for correct registration and compliance with the rules for maintaining a presence in the register.
