Compared to other European countries, buying a property in Macedonia is much more affordable in terms of prices. Those who are interested in buying a house in Macedonia can benefit from specialized help regarding legal aspects. We invite you to read the following lines and find out some important aspects related to the process of buying and selling a house in Macedonia, specifying that one of our Macedonian lawyers can take care of the formalities and represent you in this endeavor.
| Quick Facts | |
|---|---|
| Can expats buy properties in Macedonia? | There are no restrictions regarding foreigners buying properties in Macedonia, except the state-owned ones. |
|
Legislation for property purchase in Macedonia |
– Law on Ownership and Other Real Estate Rights in Macedonia, – Law on Construction Land, – Law on Cadastre of Immovable Assets |
|
Types of properties you can buy as a foreigner |
– residential, – commercial, – industrial properties, – land, etc. |
| Property inspection before purchase (YES/NO) | YES |
| Non-encumbrance certificate required |
Yes, this document is issued by the Real Estate Cadastre. |
| Documentation verification made by our law firm in Macedonia |
Our Macedonian lawyers can verify the property history and related documents. |
| Content of a sale-purchase contract of a property |
– name of the owners, – property description, – name of the buyers, – sale price, and other legal aspects |
| Real estate tax in Macedonia |
Ranges between 0.10% and 0.20%. |
| VAT for property purchase in Macedonia |
18% |
| Can a lawyer in Macedonia represent you with a power of attorney? | Yes, our clients can be represented with a power of attorney when buying a property in Macedonia. |
| Possibility to buy without visiting Macedonia |
Yes, with legal support provided by our attorneys |
| Price negotiation |
With the help of the real estate agent you work with |
| Residence permit issued for buying property (YES/NO) |
YES |
| Buying a property in Macedonia through mortgage |
Available option |
| Legal services offered for buying a property in Macedonia |
We can: – handle the paperwork and create the sale-purchase contract for buying a property in Macedonia, – represent clients in front of the notary for signing the agreement. |
| Can a foreigner buy a property in Macedonia on her/his own? | Yes, but it is recommended to ask for legal advice and skip possible complexities throughout the process. |
|
Can foreign citizens buy agricultural land in Macedonia? (YES/NO) |
NO |
|
Institution that issues approvals for foreigners buying a property in Macedonia |
Ministry of Justice |
| Recommendations for loans in Macedonia | A property lawyer in Macedonia can verify all documents and provide legal advice. |
| What happens with the deposit if the buyer changes his/her mind? |
The deposit cannot be returned. |
| When is the property transfer made? |
Proof of payment is solicited first. |
| Notary fees |
No more than 1% of the property price |
| Fees for real estate agent (approx.) |
Around 2% rate paid by the seller |
| Other obligations for the new property owner in Macedonia |
Must register with the Department of Cadastre and other local authorities |
| Buying a property for rental purposes in Macedonia | An available option for foreign investors |
| Real estate market forecast in Macedonia |
Projected to grow by approximately 4.77% during 2024-2028 |
| Title transfer |
As soon as the property is paid, the title transfer is made. |
| Avoiding possible legal disputes |
Our real estate lawyer in Macedonia assures clients that all documents are correct from a legal point of view. |
| Popular cities for buying a house in Macedonia |
– Skopje, – Ohrid, – Delbar, – Prilep, etc. |
| Average price for an apartment in the center of Skopje, the capital city | Around EUR 190,000 |
What is the process of buying a house in Macedonia?
First of all, it must be stated that foreign citizens have no restrictions regarding the purchase of a house in Macedonia as long as there are no state-owned properties involved. However, certain exceptions apply. Here are the general steps of buying a house in Macedonia:
- A non-encumbrance certificate issued by the Real Estate Cadastre must be acquired in the first place.
- The cadastral number must be owned and presented by the owner of the house to be sold.
- Real estate due diligence is recommended for the buyer to ensure that there are no legal or other problems with the property in question.
- The price of the property can be negotiated, and the real estate agent you work with can help you here.
- The sale-purchase contract is drawn up, after checking the history of the respective property. Our lawyers in Macedonia can guide and help you in this regard.
- Once these are drawn up, the signature is done in front of the notary, who can also verify the sale-purchase contract.
- The exchange of ownership is done between the seller and the buyer in front of the notary. One of them or even both can be represented with a power of attorney by our Macedonian lawyers. We can tell you more bout how to buy a house in Macedonia.
Furthermore, it is good to know that the notary in front of whom the documents are signed for the sale of a property must notify the Macedonian Department of Cadastre of the change of owner. Next comes the registration and obtaining a new title deed from the Cadastral Office in Macedonia.
We remind you that if you want to buy a property in Macedonia, you can contact our specialists. Our attorneys in Macedonia can offer you the necessary legal support in this endeavor. You can also discover an infographic on how to buy a house in Macedonia:
Reciprocity Law for buying properties in Macedonia
The Reciprocity Law comes into play when a certain category of foreign citizens buy real estate properties in Macedonia. While those from the European Union can purchase houses in Macedonia without prohibitions, things change for citizens from outside the EU. In this case, the Reciprocity Law states that if the country of origin allows the purchase of real estate for Macedonian citizens, Macedonia also allows this for respective foreign citizens.
The same rules apply to owners of foreign companies interested in buying real estate in Macedonia if there is a reciprocity agreement signed in this sense. Be careful, however; there are also certain restrictions in this case. People interested in more information on this case and who come from non-EU countries are advised to contact one of our specialists. Our Macedonian lawyers ensure that clients understand the rules and principles underlying the purchase of real estate properties in Macedonia in order to avoid possible complexities.
Buying a property in Macedonia through bank loan
Mortgages are available in Macedonia. In practice, foreign citizens who want to purchase real estate in Macedonia can obtain a bank loan for this purpose, but only if they meet all the conditions. Some banks offer loans of up to 80% of the value of the property, while others can guarantee the entire amount. In any case, specialized assistance is recommended in this case, especially for foreigners who do not know the local legislation or the preferences and conditions of banks in Macedonia.
What to consider before purchasing a real estate property in Macedonia
If you want to relocate to Macedonia and choose to buy a property instead of renting it, it would be good to have the following tips at hand:
- Skopje, the capital of North Macedonia, is among the preferences of foreigners who move here. Prices for real estate properties are usually higher than in other cities and can differ depending on the area. It is recommended to work with a local real estate agent to guide you in this regard.
- If you want to make real estate investments in Macedonia, you can also opt for other cities such as Bitola, Struga, or Ohrid.
- The market is quite diverse. You can opt for both luxury apartments and villas, as well as more affordable properties.
- Do not hesitate to talk to a Macedonian lawyer, as you can find one at our firm, and make sure that you understand all the procedures related to the acquisition of a real estate property in this country.
- Last but not least, you must also consider the taxes that must be paid as a buyer of a real estate property in Macedonia.
Below is a video presentation with details about how to purchase a property in Macedonia:
Taxes to be paid when purchasing a property in Macedonia
When you want to buy a house in Macedonia, you must consider the taxes that must be paid. Both the buyer and the seller must pay certain taxes, as follows:
Paid by the buyer:
- 18% VAT rate,
- 0.10% registration fee,
- between 2% and 4% sales tax rate,
- around 1% rate as the notary fee.
Paid by the seller:
- around 2% rate – fee for real estate agent.
Our law firm in Macedonia can provide you with complete information about the taxes that must be paid when purchasing a house. We are here to help you and offer specialized legal advice if you want to buy a property in Macedonia. Our lawyers can also help you if you need to purchase a property in another country/ region, such as Dubai.
We invite you to contact our lawyers in Macedonia and discuss all legal aspects if you want to buy a property in Macedonia. On the other hand, our immigration lawyers in Macedonia are at your disposal with legal support if you want to apply for a residence permit once the property is purchased. We can tell you more about immigration to Macedonia and the conditions imposed.