Applications for Greece's "Golden Visa" program for foreign real estate investors fell by more than 26% in June, the first significant sign of a slowdown after a nearly two-year surge, according to new data from the Ministry of Migration and Asylum.
A total of 441 new applications were filed in June 2025, a sharp decline from the 600 applications recorded in the same month last year.
The drop follows a prolonged rush by foreign investors to enter the program ahead of government measures aimed at curbing the overheated market.
That surge began in late 2022 after Prime Minister Mr. Kyriakos Mitsotakis announced plans to raise the minimum investment threshold.
Analysts say the government's successive restrictions ironically created "artificial demand" as buyers hurried to finalize deals before new rules took effect.
The June figures are the first tangible indication that the market may now be de-escalating, with a continued decline in applications expected in the coming months.