Gross rental yields in North Macedonia: Skopje and 2 other cities

The average gross rental yield in North Macedonia stands at 6.47% (2025, Q1). Previously, in Q1 2024, the average rental yield was 6.00%.

Cities compared
  • Skopje
  • Bitola
  • Štip
Historical rental yields in North Macedonia

View the full rental yield dataset (2022 - Present)


  Last Updated: Feb. 12, 2025
Next Update: July 2025
SKOPJE - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
Studio €36,000 €200 6.67%
1-Bedroom €53,500 €260 5.83%
2-Bedroom €73,000 €350 5.75%
3-Bedroom €90,000 €500 6.67%
4+Bedroom €125,000 €700 6.72%
Aerodrom      
Studio €35,000 €162 5.55%
1-Bedroom €50,600 €220 5.22%
2-Bedroom €68,000 €260 4.59%
3-Bedroom €83,000 €330 4.77%
4+Bedroom €98,000 €380 4.65%
Karposh      
Studio €37,850 €180 5.71%
1-Bedroom €53,000 €250 5.66%
2-Bedroom €66,000 €300 5.45%
3-Bedroom €92,000 €500 6.52%
4+Bedroom €119,000 €900 9.08%
Kisela Voda      
Studio €34,000 €160 5.65%
1-Bedroom €50,000 €200 4.80%
2-Bedroom €62,500 €250 4.80%
3-Bedroom €77,000 €300 4.68%
4+Bedroom €112,000 €400 4.29%
Gaza Baba      
Studio €37,000 €150 4.86%
1-Bedroom €40,000 €162 4.86%
2-Bedroom €51,650 €230 5.34%
3-Bedroom €59,000 €280 5.69%
Skopje (all locations)  
Studio €36,000 €180 6.00%
1-Bedroom €48,500 €250 6.19%
2-Bedroom €63,500 €330 6.24%
3-Bedroom €80,000 €500 7.50%
4+Bedroom €110,000 €700 7.64%
Skopje avg. Rental Yields 6.71%
BITOLA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Bitola (all locations)  
1-Bedroom €29,000 €150 6.21%
2-Bedroom €36,000 €160 5.33%
3-Bedroom €40,000 €250 7.50%
Bitola avg. Rental Yields 6.35%
ŠTIP - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Štip (all locations)  
2-Bedroom €30,000 €150 6.00%
3-Bedroom €35,000 €195 6.69%
Štip avg. Rental Yields 6.34%
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 and Pazar3

Research Methodology:

Our rental yield analysis is conducted biannually to ensure up-to-date insights. We assess 1-bedroom, 2-bedroom, 3-bedroom across the largest cities in North Macedonia, comparing median rental prices with median purchase prices to determine gross rental yields.

We source data from a leading local property platform, capturing both asking rents and list prices to reflect current market conditions. The gross rental yield is calculated using the following formula:

(Median Monthly Rent × 12) ÷ Median Purchase Price × 100

For example, if the median monthly rent is €500 and the median purchase price is €100,000, the yield is calculated as:

(€500 × 12) ÷ €100,000 = 6% Gross Rental Yield

Note: NET yields vary from country to country, but are usually 1.5-2% lower. 

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