Gross rental yields in Macedonia: Skopje and 3 other cities

  Last Updated: Sept. 5, 2023
SKOPJE - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
Studio €44,000 €200 5.45%
1-Bedroom €66,000 €280 5.09%
2-Bedroom €90,950 €360 4.75%
3-Bedroom €120,000 €600 6.00%
4+Bedroom €240,000 €1,000 5.00%
Aerodrom      
Studio €41,800 €180 5.17%
1-Bedroom €55,100 €250 5.44%
2-Bedroom €73,000 €300 4.93%
3-Bedroom €95,000 €350 4.42%
4+Bedroom €135,000 €650 5.78%
Karposh      
Studio €40,250 €190 5.66%
1-Bedroom €58,500 €250 5.13%
2-Bedroom €76,000 €350 5.53%
3-Bedroom €120,500 €550 5.48%
4+Bedroom €165,000 €1,300 9.45%
Kisela Voda      
Studio €38,500 €180 5.61%
1-Bedroom €54,000 €220 4.89%
2-Bedroom €70,000 €290 4.97%
3-Bedroom €85,000 €350 4.94%
4+Bedroom €150,000 €600 4.80%
Gaza Baba      
Studio €38,000 €190 6.00%
1-Bedroom €46,000 €200 5.22%
2-Bedroom €60,000 €250 5.00%
3-Bedroom €65,500 €315 5.77%
Skopje avg. Rental Yields 5.44%
BITOLA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Bitola (all locations)  
Studio €29,000 €170 7.03%
1-Bedroom €42,000 €220 6.29%
2-Bedroom €54,000 €300 6.67%
3-Bedroom €60,000 €350 7.00%
4+Bedroom €87,500 €450 6.17%
Bitola avg. Rental Yields 6.63%
OHRID - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Ohrid (all locations)  
Studio €37,000 €81 2.63%
1-Bedroom €60,050 €150 3.00%
2-Bedroom €81,000 €200 2.96%
3-Bedroom €70,000 €250 4.29%
Ohrid avg. Rental Yields 3.22%
STIP - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Stip (all locations)  
Studio €32,500 €150 5.54%
1-Bedroom €43,000 €220 6.14%
2-Bedroom €55,000 €250 5.45%
3-Bedroom €60,000 €250 5.00%
Stip avg. Rental Yields 6.53%
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: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in Macedonia. We used the local real estate listing website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is €500 and the purchase price is €100,000, the calculation would be: €500 (Monthly Rent) x 12 / €100,000 (Purchase Price) = 6% (Gross Rental Yield).