In the footsteps of Greece. Housing in Macedonia falls in prices rapidly

July 2, 2014

In the footsteps of Greece. Housing in Macedonia falls in prices rapidly

Property prices in Macedonia in 2013 continued to decline, falling by 6.2% to €760 (48,825 denars) per sq.m, according to ee24.com citing the State Statistical Office of Macedonia.

Apartments in Skopje have lost in the price a bit less, and square meter could be purchased for €890 (54,857 denars). Outside the capital, real estate prices dropped almost by 10% - to €637 (39,246 denars) per sq.m.

In Q2 2013 crisis of the residential property market was particularly strong: housing prices dropped by 12.5% compared with Q1 2013.

Recall that unlike Greece (where there is a historical region of Macedonia), the former Yugoslav Republic of Macedonia is not part of the EU, although the country made the corresponding application 10 years ago.