250,000 Euro investment on real estate by Non EU citizens

[Mensur]

I've read that investing 250,000 Euros in real estate in Greece will allow a non EU citizen to be granted long term residency in the country. My questions are:

1) how quickly will residency be granted and for how long will the residency be for?

2) Are there more fees to be paid on top of the 250,000 Euros and if so roughly about how much?

3) I'm presuming the investment is allowed to be invested in freehold property and not leasehold, I just want this confirmed.

4) After a Non EU person gains his residency through this investment, what is the criteria or steps needed to be taken in order to get a work permit?

It will be very helpful if these questions are answered.

[Amber]

If you have €650,000 then you can get citizenship in Malta. Far better than permanent residency.

[UKBA HUNTER]

With such amount a third country national can live more better life in its own home country than Europe. Canada also offer citizenship for CAD dollars 800000 investment.