Property for sale in Macedonia

1/ Capital: Skopje

Is the capital and largest city in the Republic of Macedonia, with more than a quarter of the population of the country, as well as its political, cultural, economic, and academic centre. It was known from the Roman period under the name Scupi. Get more information on property for sale in Skopje.

2/ Country: Macedonia

Is a landlocked country on the Balkan Peninsula in southeastern Europe. It is bordered by Serbia and the disputed territory of Kosovo to the north, Albania to the west, Greece to the south, and Bulgaria to the east.

3/ Property for sale in Macedonia

Macedonia's property market is at a very early stage of development and while there is great potential there remains great risk. In order to gauge when the right time to invest in its property market you need to be fully aware of all the contributing factors.

Macedonia is enjoying a house price boom, thanks to a stronger economy and a more stable political environment.

The dispute over the name “Macedonia” has prompted Greece to block the country’s membership of the Nato and EU (see below). These issues hound the economy, and thus the properties market.

The housing finance market is still underdeveloped. Despite rapid growth in household lending since 2003, outstanding housing loans were still around 1% of GDP in 2007.

   Foreigners cannot buy land in Macedonia. They can buy apartments and buildings subject to the reciprocity rule and approval from the Ministry of Justice. The purchaser must first secure a non-encumbrance certificate for the property they wish to purchase from the Macedonia First Instance Court.

The seller on his part should secure a copy of the Properties Title Deed, as well as the registration of real property from the Macedonia Department of Cadastre. Roundtrip transaction costs, i.e., the total cost of buying and selling a property, are around 5% - 6.6% of the property value.