Greek authorites are preparing to amend laws governing property acquisitions in strategic border zones after revelations that Turkish citizens are increasingly buying land near the border via EU-based companies, the Turkish media reported on Feb. 3.
This issue sparked heated debate in the Greek parliament, particularly concerning the Evros region in northeastern Greece, which borders Türkiye and includes the city of Alexandroupoli, referred to as Dedeağaç in Turkish.
Greek media report that Turkish citizens have increasingly used companies registered in Bulgaria and other EU countries to bypass longstanding restrictions on direct property ownership by third-country nationals in border and military-sensitive zones.
Greek lawmakers and government officials argue that the scale and method of these purchases raise national security concerns.
Under the planned legal changes, it will no longer be sufficient for a buyer to use an EU-registered company to acquire property in border regions.
Authorities will require full disclosure of the company’s ultimate beneficial owners.
If those owners are citizens of non-EU countries, such as Türkiye, the transaction will be subject to strict security scrutiny.
Property purchases in Evros, including in Alexandroupoli, Orestiada and Didymoteicho, will require approval from Greece’s Defense Ministry.
If approval is denied, the sales contract will be declared invalid.
Turkish real estate investment in Greece reportedly exceeded 514 million euros ($607.5 million) in 2024, a tenfold increase compared to the previous year.
Greece has restricted property sales to Turkish citizens in certain border areas since 1924.
On the Turkish side, a reciprocal law introduced in 1927 and enforced from 1964 prevents Greek citizens from buying property in the Turkish border and coastal regions.
As much of Greece’s territory lies along the coast, this reciprocity has disproportionately limited Turkish buyers, encouraging the use of corporate structures as a workaround — often with guidance from Greek real estate agencies themselves.
