Greek MEP Giorgos Avtias has formally asked the European Commission to crack down on aggressive land and property purcha...

Greek MEP Giorgos Avtias has formally asked the European Commission to crack down on aggressive land and property purchases by third-country investors in border regions across the EU, citing national security and economic concerns. Avtias, a New Democracy member of the European Parliament's Economic Committee, filed the parliamentary question asking how the Commission, together with member states' oversight authorities, plans to control the surge of capital from outside the EU flowing into strategically sensitive areas. He noted that local communities in multiple EU countries have already raised alarms over the trend. The MEP pointed specifically to cross-border areas of high national and economic importance, where the problem has intensified significantly in recent years according to both published reports and direct accounts from residents. He argued that the Commission must strengthen transparency mechanisms covering the origin of funds, the stated purpose of purchases, and the actual ownership structure behind the transactions. Avtias also called for scrutiny of corporate structures, particularly in cases involving shell companies used to dodge taxes or obscure the real source of money. In areas of strategic importance, he said, any sale to foreign investors should require approval from the relevant national authorities whenever national security issues arise. The question asks the Commission to detail exactly what steps it intends to take on each of these fronts, whether current EU rules are adequate for the task, and whether new legislative tools are being considered to address the gap. No Commission response has been published yet. The push aligns with a broader debate across Europe over foreign, particularly Chinese and Gulf state, capital entering sensitive European real estate and infrastructure markets near national borders. #Greece #EuropeanParliament #NationalSecurity