Investment property: North Macedonia

Updated 6 October 2026

North Macedonia: we show what makes sense for you to buy, vet the seller and the property, and close the deal.

Individuals and companies from EU and Organisation for Economic Co-operation and Development countries buy flats, houses and commercial premises in North Macedonia on the same terms as locals. For citizens of other countries reciprocity applies: a purchase is possible if their country allows the same purchase to North Macedonian citizens. Foreigners cannot own agricultural land but, under reciprocity, can take it on a long-term lease. Prices are usually quoted in euros, and the denar is de facto pegged to the euro at about 61.5 denars per euro; dollar amounts use the European Central Bank rate of 5 October 2026, $1.12 per euro.

Where people buy

• Skopje: the capital, with most new builds and rentals.
• Ohrid and the Lake Ohrid shore: resort homes; part of the area is protected as a World Heritage site, so building is restricted.
• Bitola and other towns: inexpensive homes, but less rental demand.

Taxes on purchase and ownership

• Real estate turnover tax: 2% to 4%, with the exact rate set by the municipality.
• Annual property tax: 0.10% to 0.20% of market value, also set by the municipality.
• Notary and cadastre registration are paid separately.
• Rental income is subject to 10% income tax after set deductions.

Rates are confirmed by North Macedonia's Ministry of Finance. On a €100,000 flat, about $112,100, turnover tax is €2,000 to €4,000, about $2,250-4,490.

How the purchase works

1. Checking the right to buy: the buyer's country, property type and reciprocity if needed.
2. Checking the property at the Real Estate Cadastre Agency: owner, encumbrances, compliance of the building with permits.
3. A notarial contract with translation for a buyer who does not speak Macedonian.
4. Payment through a bank and payment of turnover tax.
5. Title registration in the cadastre and transfer of utility accounts.

New builds and letting

• A new build from a developer. Before signing, check the building permit and, for a finished building, the use permit: without it the flat cannot be registered as a completed home. Payments are tied to construction stages.
• Long-term letting is subject to 10% income tax; a written lease is advisable.
• Short-term tourist letting, for example in Ohrid, requires registering the home for guest accommodation with the municipality.

Buyer's documents

• passport and, if needed, a North Macedonia tax number;
• proof of the origin of funds for the bank and notary;
• an apostilled power of attorney if a representative handles the deal.

Risks

• A building or extension without a permit that has not been legalised.
• Discrepancies between the cadastre and actual plot boundaries.
• A buyer from a country without reciprocity: the deal will not be registered.
• Building restrictions in the protected Ohrid area.

What we do

We check whether you can buy the chosen property, shortlist a home, check it at the cadastre and municipality, and support the notarial contract, payment and registration with locally licensed partners. If you need a local bank account, we open it in parallel.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · All country programs

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