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

The average gross rental yield in Spain stands at 6.00% (2024, Q1).

  • Skopje
  • Bitola
  • Štip
  Last Updated: Feb. 09, 2024
SKOPJE - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
Studio €36,000 €200 6.67%
1-Bedroom €55,000 €250 5.45%
2-Bedroom €75,000 €350 5.60%
3-Bedroom €92,000 €500 6.52%
4+Bedroom €130,000 €700 6.46%
Aerodrom      
Studio €35,000 €162 5.57%
1-Bedroom €50,000 €220 5.28%
2-Bedroom €67,000 €250 4.48%
3-Bedroom €81,000 €300 4.44%
4+Bedroom €102,000 €350 4.12%
Karposh      
Studio €36,000 €170 5.67%
1-Bedroom €52,000 €235 5.43%
2-Bedroom €65,000 €300 5.54%
3-Bedroom €92,000 €450 5.87%
Kisela Voda      
Studio €33,000 €150 5.45%
1-Bedroom €49,000 €200 4.90%
2-Bedroom €61,000 €250 4.92%
3-Bedroom €77,000 €330 5.14%
4+Bedroom €93,000 €400 5.16%
Gaza Baba      
Studio €33,000 €150 5.45%
1-Bedroom €39,000 €162 5.00%
2-Bedroom €50,000 €220 5.28%
3-Bedroom €57,600 €250 5.21%
Skopje avg. Rental Yields 5.37%
BITOLA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Bitola (all locations)  
1-Bedroom €28,000 €150 6.43%
2-Bedroom €36,000 €162 5.41%
3-Bedroom €41,000 €250 7.32%
4+Bedroom €87,500 €450 6.39%
Bitola avg. Rental Yields 6.63%
ŠTIP - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Štip (all locations)  
1-Bedroom €30,000 €154 6.17%
2-Bedroom €37,000 €195 6.32%
Štip avg. Rental Yields 6.25%
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
North Macedonia´s Historic Rental Yield Data

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).

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