Top 5 Places to Live in North Macedonia for Expats and Investors

Thinking of relocating or investing in the Balkans? North Macedonia might not be the first country that comes to mind, but it should be. Nestled between Greece, Albania, and Serbia, this small nation is quickly becoming one of Europe’s best-kept real estate secrets.

Whether you're chasing a relaxed lifestyle, seeking growth opportunities, or hunting for undervalued property, North Macedonia offers plenty of reasons to explore your options. Affordable housing, low cost of living, a growing tourism sector and a favorable tax system make it especially attractive for expats and international property investors.

So, where should you move to? Here are the top 5 places to live in North Macedonia.

1. Skopje

If you're looking for convenience, community, and connectivity, Skopje is the place to start. As the capital and largest city, it serves as the center of government, business, education, and cultural life.

Skopje has experienced rapid development in recent years, with the emergence of new residential complexes, modern malls and a thriving café culture. It's also the most diverse and foreigner-friendly city in the country. A growing expatriate community has driven an increase in rental apartment demand, with some properties yielding returns of 7% or more.

Some areas have even seen property value growth of up to 60% over the past five years, making Skopje one of the region’s most strategic investment hubs for real estate.

2. Ohrid

Ohrid is often regarded as the pearl of the Balkans, a UNESCO World Heritage site known for its stunning lakeside views and rich history.

Located along the shores of Lake Ohrid, the city offers a slower pace of life that appeals to retirees and anyone seeking peace without isolation. The town is home to at least 365 churches, an ancient amphitheater, and several archaeological sites.

What makes Ohrid a real estate hotspot is its booming seasonal tourism industry. During the summer months, the population swells with visitors, creating strong demand for short-term rentals and pushing peak rental yields over 8%.

3. Bitola

Known as the "City of Consuls," Bitola is rich in history, elegance, and old-world charm. Once a hub of Ottoman diplomacy, it has evolved into a thriving city with an affordable property market and a relaxed pace of life.

Its appeal lies in its European-style architecture, open squares, and cultural life. Bitola hasn’t been heavily modernized, making it attractive for those seeking authenticity. With average property prices around €1,250 per square meter, and steady rental demand from students and tourists, it’s a favorite among value-driven investors, providing a good return of around 6%.

4. Kumanovo

Located just 40 km from Skopje, Kumanovo, the country’s second largest city, is often overlooked, but that’s starting to change. It offers some of the country’s most affordable real estate yet shows real signs of urban growth.

The city benefits from its strategic location near Serbia and Kosovo, which encourages trade and attracts logistics and light manufacturing businesses. A small but growing IT sector is also taking root, attracting young professionals and remote workers. Kumanovo offers real potential for long-term investors priced out of Skopje.

5. Kavadarci

If you love rolling vineyards, clean air, and a more laid-back lifestyle, Kavadarci is your hidden gem. Located in the heart of the Tikveš wine region, it’s surrounded by wineries, farmland, and agrotourism opportunities.

The town is gaining popularity among expats for its Mediterranean-style climate, strong sense of community, and low cost of living. From an investment angle, Kavadarci's wine tourism sector is growing steadily, with demand rising for guesthouses, boutique stays, and hospitality businesses.

City Comparison Table: Where Should You Buy?

Ready to Make the Move?

North Macedonia offers more than just affordable real estate; it’s a gateway to a life rich in culture, community, and opportunity. From lakeside serenity to vineyard retreats and emerging tech hubs, there’s something here for every type of buyer or investor.

And the best part? You’re getting in before the rest of the world catches on.

As you explore your options for relocation or investment, these five cities stand out for their lifestyle appeal, rental potential, and long-term value. Their welcoming communities and growing markets make them ideal entry points into the Balkan property scene.

At MakLiving Real Estate, we specialize in helping expats and international investors navigate the local market. Whether you’re searching for a city apartment, a holiday home, or a boutique business opportunity, contact us today and let us help you find your place in North Macedonia.