Montenegrins, Albanians, Serbs should have a company to buy an apartment in the country

Macedonia Square in Skopje
Macedonia Square in Skopje / Photo: EPA / GEORGI LICOVSKI

The real estate agents note that our guest workers, who are far more creditworthy than Macedonian citizens, when they need to take out a loan in our banks, guarantors are required.

Citizens from the region and non-European countries being able to freely buy real estate in the country is part of the initiative that the Macedonian agencies will try to present through the chambers of commerce. Idayet Polozhani, owner of a real estate agency from Struga, explains to "Sloboden Pechat" that with the existing laws this is only possible for EU and US citizens. On the other hand, only legal entities from non-European countries can buy an apartment or house with us.

- There is an interest in acquiring real estate from individuals from Albania, Montenegro, Kosovo, Serbia. And not only in the tourist centers, but also in the whole country. Let's not forget the family and private ties that go back to the former Yugoslavia. However, the current legislation stipulates that you must first open a company in Macedonia, and then acquire real estate. It discriminates against these people in relation to EU citizens - explains Položani. Our interlocutor believes that in order to stimulate the real estate market, changes are needed in the existing regulation, and this will bring benefit to everyone.

Domestic real estate agents point to another barrier in the context of lending to the diaspora. According to Polozhani, it is nonsense that guarantors are required for our guest workers, who are far more creditworthy than Macedonian citizens, when they need to take out a loan from the banks!?

- To complete the procedure in the bank, they need almost 1 month, and that is a time that those of us who work abroad do not have. Plus, even though they are creditworthy, banks in the country are looking for guarantors. That initially "kills" the intention to invest in us - adds Položani.

On the other hand, Macedonian citizens are increasingly buying real estate in Greece, after the several-year crisis brought down the prices there. The Macedonians' interest in a piece of Greek land with a view of the sea was made possible by the legal changes that allowed foreign nationals from a few years ago to be owners of real estate in neighboring countries, regardless of whether or not they are members of The European Union. By the way, with the purchase of a property of over 250.000 euros, a golden visa is obtained in Greece, which applies not only to the holder of the investment but also to the immediate family members.

Likewise, in recent years, citizens from several Macedonian cities have massively bought apartments in Saranda and Valona, ​​attracted by the low prices and the prospects of Albanian tourism. The agencies predict that real estate prices will continue to rise in the future, because the Albanian coast is still in a construction boom and there is intensive investment and development there.

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