Apartments worth about €300 million sold in six months as real-estate market accelerates

In the first six months of the year buyers paid roughly €300 million for apartments across the country, according to the latest report from the Agency for Cadastre. The same report shows total spending on all property purchases exceeded €600 million, with apartments accounting for about half of that sum.

Market picks up pace in the second quarter

After a soft start to the year, apartment transactions accelerated: sales in the second quarter rose by 37% compared with the first quarter, a sign that demand for housing remains robust despite frequent public debate over high prices.

The most active month in Q2 was June, when the largest number of sales was recorded, while May showed the weakest activity. The report also notes that in most of Skopje’s municipalities average prices are higher for apartments in older buildings than for units in newly constructed blocks.

The most expensive apartment recorded in Q2 was an older-building flat in Ohrid sold at €3,200 per square metre; for 66 square metres the buyer paid just over €211,000.

Transactions for newly built apartments also climbed: sales of new-build flats in the second quarter rose by about 40% compared with the same quarter last year. By contrast, rental markets contracted — rental transactions fell across nearly all categories, including apartments, houses and commercial premises.

Price per square metre has been a recurring topic: developers point to strong demand as the reason for increases, while others argue that opening new construction locations would help lower costs. The National Bank of the Republic of North Macedonia (NBRM) has adjusted lending participation rules — reducing the share for financing a first apartment while raising required shares for subsequent purchases — hoping these steps will contribute to price stabilisation.

Written by: Irena Chachkova

Photo: press material from the event