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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


Apartment in the centre of Skopje


Apartment in Skopje


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
  • studios


  • 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


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



Of the transaction amount

Secondary housing

Registration tax

Legal support of the transaction

A lawyer is mandatory to conclude the deal

Notary fee

Depends on the transaction amount 

Registration fee


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

per month

Internet, TV and telephone

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

Agency fee
Natalia Oganesyan
Natalia Oganesyan
Prepared a guide on investing in real estate in North Macedonia