Slight increase of apartment prices during coronavirus crisis’ peak in North Macedonia

There was an increase of the apartment prices in North Macedonia during this year’s second quarter, when the coronavirus crisis worsened and, furthermore, it is clear now that the prices are rising, even though the number of apartments on the market surpasses the demand.

According to data provided by the National Bank, during the second quarter of 2020, the apartment prices in Skopje have been growing by an annuall rate of 1.4 % which denotes a minor deceleration compared to the previous quarter.

At the same time, the statistics of the Agency for Real Estate Cadastre shows that by the end of June, on the whole territory of North Macedonia there 6.436 newly built apartments that were still on the market.

Otherwise, the data provided by the Cadastre Agency reveals significant differences among average per square meter prices, depending on the cities where the apartments are located. The prices go from 28,255 MKD in Kumanovo to 62m778 MKD in Centar, Skopje. The math shows that with the price of one apartment in the Center, two apartments can be purchased in Kumanovo and Strumica.