Stip housing prices rise 10% — new-build and older flats cost more

Housing prices in Stip have risen by about 10% compared with last year, according to the municipality's latest analysis. Local real estate turnover reached roughly 13 million euros so far this year, of which about 8 million euros relate to newly built apartments. The highest recorded contract price for a new flat is approximately 1,500 euros per square metre.

"The average price has increased by about 10%, meaning both old and new apartments are sold at higher prices. So far, from the cases submitted to the municipality, the resale value of apartments is around 13 million euros, of which 8 million euros are for new apartments. The highest agreed price on a contract is around 1,500 euros per square meter for a new apartment," says Dragan Karov, Municipality of Stip.

Fewer transactions, more building permits

Despite the price rise, overall sales are down: transactions for both new and older apartments have fallen by about 30% this year. To date the municipality has registered 207 sales contracts, compared with 315 apartments sold in Stip last year.

At the same time, the number of newly approved construction permits for residential buildings has increased. Those projects are not yet recorded in the cadastre and are expected to be entered into the cadastral system in 2027, which the municipality says will expand the supply and likely boost future resale activity.

Municipal officials expect the new approvals to widen the choice of new apartments across the central city area and residential neighbourhoods next year. For now, the market shows higher unit prices but fewer completed transactions as buyers and sellers respond to the changing offer and pipeline of developments.

Photo: press material from the event