Rental yields are moderate in Macedonia

Residential Valuation Specialist | November 18, 2022

Last Updated: Sept. 5, 2022
SKOPJE - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center
Studio €38,500 €200 6.23%
1-Bedroom €51,000 €250 5.88%
2-Bedroom €72,000 €340 5.67%
3-Bedroom €92,000 €470 6.13%
4+Bedroom €135,000 €625 5.56%
Aerodrom
Studio €34,500 €160 5.57%
1-Bedroom €49,000 €200 4.90%
2-Bedroom €65,000 €240 4.43%
3-Bedroom €80,000 €300 4.50%
4+Bedroom €97,500 €350 4.31%
Karposh
Studio €35,000 €162 5.56%
1-Bedroom €50,000 €220 5.28%
2-Bedroom €63,000 €280 5.33%
3-Bedroom €88,000 €400 5.45%
4+Bedroom €118,500 €600 6.08%
Kisela Voda
Studio €32,000 €150 5.63%
1-Bedroom €47,000 €200 5.11%
2-Bedroom €59,000 €250 5.08%
3-Bedroom €75,000 €300 4.80%
4+Bedroom €91,000 €425 5.60%
Gaza Baba
Studio €27,750 €150 6.49%
1-Bedroom €37,000 €160 5.19%
2-Bedroom €46,000 €220 5.74%
3-Bedroom €56,000 €200 4.29%
4+Bedroom €97,000 €250 3.09%
Skopje avg. Rental Yields 5.28%
BITOLA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Bitola (all locations)
Studio €19,500 €100 6.15%
1-Bedroom €28,000 €150 6.43%
2-Bedroom €36,500 €162 5.33%
3-Bedroom €41,250 €250 7.27%
4+Bedroom €44,500 €235 6.34%
Bitola avg. Rental Yields 6.30%
OHRID - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Ohrid (all locations)
Studio €23,000 €81 4.23%
1-Bedroom €34,000 €114 4.01%
2-Bedroom €43,000 €150 4.19%
3-Bedroom €50,000 €110 2.64%
Ohrid avg. Rental Yields 3.77%
STIP - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Stip (all locations)
Studio €15,000 €97 7.78%
1-Bedroom €30,000 €162 6.49%
2-Bedroom €37,000 €200 6.49%
3-Bedroom €45,000 €200 5.33%
3-Bedroom €48,000 €179 4.48%
Stip avg. Rental Yields 6.11%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

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Buying prices of apartments in Skopje, Macedonia, remain very reasonably priced at around EUR 46,000 to EUR 72,000 for a two-bedroom apartment. Rental yields in Skopje are between 3.09% to 6.49% with a city average of 5.28%-

Due to moderate price rises since 2005 (all our figures are stated in Euro terms), there has been a slight increase in yields. It seems to us that another reason is that rents have been raising, though we don´t have official statistics to confirm this. Gross rental yields in Macedonia are now moderate, with most cities yielding around 3.77% to 6.30%.

  

Round trip transaction costs are low on residential property in Macedonia, see our Macedonia transaction costs analysis and our Macedonia transaction costs compared to other locations.