The Ultimate Guide to Buying Property in North Macedonia

Are you thinking about buying property in North Macedonia? Whether you’re an investor, expat, digital nomad, or simply looking for a holiday home in a beautiful, affordable European destination, you’re in the right place.

North Macedonia has become an increasingly attractive option for international buyers, thanks to its low cost of living, rich cultural heritage, strategic location in the Balkans, and growing real estate market. This guide provides a comprehensive overview of everything you need to know about buying property in North Macedonia.

Why Buy Property in North Macedonia?

The country is a bit of a hidden gem, tucked away in the heart of the Balkans. North Macedonia offers a mix of history, stunning landscapes, and a slower pace of life that’s hard to resist.

Additionally, property prices remain relatively low compared to the rest of Europe. It’s not unusual to find a tidy apartment in Skopje for the cost of a used car in some Western cities.

Can Foreigners Buy Property in North Macedonia?

The short answer is yes, but there are a few details worth knowing.

1. Foreign citizens are generally permitted to purchase property in North Macedonia, particularly apartments and houses. If you’re from a country that has a reciprocal agreement with North Macedonia (including most European Union nations), the process is relatively straightforward.

2. For non-EU buyers, the rules are slightly more complex. You may need to go through the process as a legal entity, such as by registering a Macedonian company that purchases the property on your behalf. This is more common when buying land or commercial space, as owning land as an individual foreigner can require additional approvals.

It might sound complicated, but with the right legal support and a trustworthy real estate agent, it’s all very manageable.

What Types of Property Can You Buy?

The North Macedonian market is diverse, especially in major cities and tourist regions. Here’s a quick look at what you’ll typically find:

• Apartments: These are the most common option for both locals and foreigners. In cities like Skopje and Bitola, you’ll find everything from modern high-rises to older blocks with lots of character. Many apartments come semi-furnished and offer excellent rental potential.

• Houses and Villas: If you’re looking for more space, privacy, or a yard, houses are a great choice. They’re available in both urban neighborhoods and quieter villages.

• Commercial Properties: There is growing interest from foreign investors in shops, cafes, office spaces, and hotels, especially in high-traffic areas such as Skopje or Ohrid.

• Land: Buying vacant land is possible, although it can be a bit trickier if you’re not a citizen. That’s where working with a local partner becomes key.

Where Should You Buy? Popular Locations

Each city in North Macedonia has its unique vibe, so choosing where to buy depends on what you’re looking for.

Skopje, the capital city, is where most international buyers start. It offers a mix of modern apartments, solid infrastructure, and long-term growth potential. If you're after rental returns or a more urban lifestyle, Skopje is a smart bet.

Ohrid, a UNESCO-listed town known for tourism, history, and holiday homes, is ideal if you’re looking for something more scenic and relaxed. Ohrid is a stunning lakeside town that attracts tourists and retirees alike. Property here can be slightly more expensive, but the lifestyle and views are well worth it.

Then there are regional towns like Bitola, Prilep, Tetovo, Stip, Kumanovo, and Struga, which are perfect for retirees or remote workers seeking a slower pace. These areas can offer excellent value for long-term living or holiday homes.

How Does the Buying Process Work?

Buying property here is a bit different from places like Australia, the UK, Canada, or the US, but it’s not overly complicated. Here’s how it generally works:

1. Find your property: Whether browsing online or visiting in person, it starts with choosing the right place. We’ll help you shortlist options and arrange viewings.

2. Hire a lawyer: This is essential for foreign buyers. Your lawyer will handle all legal checks, translate documents, and represent your interests.

3. Sign a preliminary agreement: Once you’ve chosen a property, you’ll usually sign a basic contract and pay a small deposit to reserve it.

4. Conduct your due diligence: This involves your lawyer verifying the property’s legal status, ensuring there are no outstanding debts, ownership disputes, or zoning issues.

5. Sign the final contract: You’ll meet with a notary to officially sign the contract and pay the remaining balance.

6. Register the property: Finally, your ownership will be recorded in the local cadastre (property register), and you’ll receive your title deed.

   
   

In most cases, the entire process can be completed within a few weeks, especially if everything’s in order.

What Documents Will You Need?

As a foreign buyer, you’ll need:

• A valid passport.

• A local tax identification number (EMBG), which your lawyer can help arrange.

• Proof of funds, such as a bank statement.

• A power of attorney if you’re not in the country during the process.

• Translated and notarized documents, depending on your nationality.

Your legal team will guide you through this process and ensure that all necessary documents are properly filed.

How Much Does it All Cost?

Buying property in North Macedonia is relatively affordable, but there are some standard costs to plan for:

• Property transfer tax: Around 3% of the property value.

• Legal and notary fees: Usually between €300 and €1,000, depending on complexity.

• Real estate agency commission: 2% to 3% (often split between buyer and seller).

• Registration fees: Minor, usually under €200.

As a rough guide, you can expect to pay approximately 5% of the purchase price to cover all costs. For example: On a €80,000 apartment, expect around €4,000 in total fees.

Can Foreigners Get a Mortgage in North Macedonia?

It’s possible, but not common. Most foreigners buying in North Macedonia use cash, simply because local banks often require residency status and a long-term financial history within the country. If you do explore financing, expect to provide a larger down payment and navigate more paperwork.

What Happens After You Buy?

Once you’ve purchased the property and registered it in your name, you can:

• Transfer utilities (electricity, water, internet) into your name.

• Start renovating or furnishing the space.

• Apply for temporary residence if you plan to stay long term.

• If it’s an investment, rent it out and start generating income.

  
  

You’ll also want to consult with a local accountant or tax advisor if you plan to earn rental income, to ensure you’re correctly set up.

What to Watch Out For

If this is your first time buying overseas, or even your first home, here are some tips to keep you grounded and confident throughout the process:

• Do your homework: Look into different regions, property types, and market trends. North Macedonia has a lot to offer, but not every property is a wise investment.

• Work with professionals: A solid local real estate agent and a trusted lawyer can save you money, stress, and potentially avoid a few legal headaches.

• Ask about future development plans: Are there any plans for new roads, shops, or infrastructure in the area? These developments can significantly impact property value.

• Negotiate respectfully: Prices are often negotiable, but don’t rush into a decision too quickly. Relationships matter here, and a collaborative approach usually gets better results.

• Be patient: The process can take a little longer than you're used to, especially when it comes to paperwork or approvals. Take your time and avoid rushing big decisions.

Is It a Good Investment?

It depends on your goals. If you're buying as a lifestyle choice, you're probably going to love it here. But if you're looking at rental income or capital growth, do your research on the specific area and ask your agent for recent data.

The market is growing, so the most significant gains often come from making smart investments and adopting a long-term perspective.

Why Work with MakLiving Real Estate?

At MakLiving Real Estate, we specialize in helping foreigners buy property in North Macedonia. We understand the market, speak the language, and work with a trusted network of lawyers, notaries, and professionals who will make your buying journey secure and straightforward.

From finding the right place to handing you the keys, we’re with you every step of the way.

Ready to Get Started?

North Macedonia offers incredible value, rich culture, and an emerging real estate market that’s full of opportunity. Whether you’re looking to invest, retire, or relocate, now is a great time to make your move.

Contact us today to book a consultation, view available properties, or get expert advice on buying property in North Macedonia.