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

How the residential property price index is growing in North Macedonia

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.

40+ guides on European countries

Learn the prices for purchasing and renting a property in each country, the market dynamics and taxes on buying and selling real estate.

Portugal Malta Austria Greece Andorra Italy Turkey Montenegro Switzerland Cyprus Spain Germany France

All countries

Get a real estate market analysis of all European countries

Download the guide

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%

Natalia Oganesyan

Prepared a guide on investing in real estate in North Macedonia

Real estate investment in North Macedonia

How the residential property price index is growing in North Macedonia

Cost of a 3-bedroom apartment in North Macedonia

North Macedonia residence permit or citizenship by real estate investment

40+ guides on European countries

Get a real estate market analysis of all European countries

Taxes and associated costs

New buildings

18%

Secondary housing

2—4%

Legal support of the transaction

0.1—0.5%

Notary fee

0.1—1%

Registration fee

0.1%