Skopje and region: apartment prices rose in H1 2026, further increases likely

Housing costs across Europe climbed again in early 2026, and data show the trend reached markets that until recently were considered relatively affordable — including Skopje.

Eurostat reported that in the first quarter of 2026 residential prices in the European Union rose by 5.1% year-on-year while rents increased by 3% — both well above EU inflation of 2.3%. The agency’s numbers also show that the average EU resident now spends almost 19% of disposable income on housing.

Skopje versus regional capitals

In the first half of 2026 the asking price for apartments in Skopje averaged €2,156 per square metre, which makes a 60 m² flat roughly €129,400. That is a clear jump from about €1,670 per m² a year earlier. The most expensive neighbourhoods remain central locations: in Municipality of Centar a square metre in a new build on an attractive site can reach €3,000. The National Bank registered an annual rise of 25% in apartment prices.

Despite these increases, Skopje is still cheaper than many capitals in the region. Comparative price points cited for first-half 2026 include Bucharest ~€2,636/m², Sofia €2,300–2,600/m², Sarajevo ~€2,700/m², Belgrade €3,080–3,100/m², and Zagreb €4,086/m².

Neighbouring markets show similar pressure. Serbian authorities published data on 7 September 2026 showing the market was worth €4.2 billion in the first half of the year (growth 10.1%) with 61,343 sales contracts. While the number of apartment sale contracts fell by 1.9% (and by 5.8% in the second quarter), the total value of apartment transactions rose 11.4% to €2.5 billion. Fifty-five percent of the money for apartment purchases flowed into the capital.

That same Serbian dataset recorded a record transaction in Belgrade’s Stari Grad: an apartment sold for €2.6 million, equivalent to an astonishing €12,000 per square metre — the highest price per m² sold in Serbia in 2026. The most expensive parking space reached €77,000. The RGZ index shows apartments in Serbia were 5.25% pricier than a year earlier (old stock +5.98%, new builds +3.86%), and mortgage lending accounted for 33% of apartment purchases.

Data from Croatia’s Bureau of Statistics (DZS), also released on 7 September 2026, show a sharp rise in new-build prices: average price per m² for a new apartment in the first half of 2026 reached €2,994 (up 8.7% year-on-year). Excluding the social housing POS programme, new apartments sold by legal entities averaged €3,012/m²; in Zagreb the average for new-builds climbed to €3,518/m² (an 18.9% year-on-year increase), and commercial new developments averaged €3,554/m².

Outlook: analysts see little evidence for a price decline across the region in the coming year. Limited new supply, stronger demand for attractive locations in Skopje (Centar, Aerodrom, Kisela Voda) and in cities such as Ohrid, Shtip and Bitola, rising construction material and labour costs, more purchases by the diaspora and higher inflation create conditions for either continued moderate growth or price stabilization at already high levels — and many experts for North Macedonia forecast further increases.

Photo: press material from the event