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 |
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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).
