St. Julians, Malta
Dragonara Business Centre, Office 506, Dragonara Road,
Paceville, St Julian’s, STJ 3141 Malta
+356 (277) 811-04
Vienna, Austria
Doblhoffgasse 9, 1010
+43 (650) 540-49-79
All offices

Real estate investment in North Macedonia

Foreigners can buy and sell properties with the approval of the Ministry of Justice.

Statistics confirm the liquidity of investments: residential real estate prices grow every quarter by an average of 1.4%. Five years ago, an apartment of 100 m² cost an average of €76,000, and today it is sold for €98,000.

€985 Average price per 1 m²
of housing in North Macedonia
1,4% Average price per 1 m²
increase per quarter
2,3—19,6% Buyers’ related expenses,
of the transaction amount

Cost of a 3-bedroom apartment in North Macedonia

€190,000

Apartment in the centre of Skopje

€100,000

Apartment in Skopje

€70,000

Apartment in Ohrid

What do investors buy?

The most expensive real estate in North Macedonia is in the capital, Skopje, and the resort town of Ohrid.

Apartments

  • apartments
  • studios

Houses

  • mansions
  • villas

North Macedonia residence permit or citizenship by real estate investment

One cannot get a North Macedonia residence permit by purchasing real estate. However, you can obtain a residence permit for opening a company, while authorised capital can be used to purchase real estate.

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Taxes and associated costs

Purchase
Ownership
Sale

Property buyers pay a value-added tax for new builds or a sales tax for resale properties and additional fees. The associated costs range between 2.3% and 19.6% of the purchase agreement value.

When buying a new apartment worth €100,000, the investor will spend €119,000, including additional costs.

2.3—19.6% Of the contract value are related costs for the purchase of housing in North Macedonia
Purchase expenses
New buildings

VAT

18%

Of the transaction amount

Secondary housing

Registration tax

2—4%
Legal support of the transaction

A lawyer is mandatory to conclude the deal

0.1—0.5%
Notary fee
0.1—1%

Depends on the transaction amount 

Registration fee
0.1%

Taxes

Owners pay an annual property tax of 0.1% to 0.2% of the market property value.

An income tax of 10% is paid on rental yields.

€1,092 Approximate annual costs
for maintenance of an apartment

Communal payments

Electricity, gas, water, heating, and garbage collection
€65—146 

per month

Internet, TV and telephone
€10—24 

per month

If the real estate seller has owned a property for less than three years, they pay a capital gains tax of 10% on the difference between the sale and purchase prices.

The agency fee usually is 2% of the transaction amount.

0—10% Capital gains tax on the sale
of real estate in North Macedonia
Expenses on the sale
Capital gains tax

Paid on the difference between the sale and purchase prices

0—10%
Agency fee
2%