Macedonia Investment: Economy
In Macedonia, buying Macedonia homes for investment entails consideration of the country’s economic situation. Those looking at Macedonia property investment will find statistics that promise successful returns from Macedonia land and property. Macedonia’s economy has shown strong growth in recent years and the country enjoys low inflation. It is widely expected that Macedonia’s eventual entry into the EU will reap huge rewards for the country’s economy and, by extension, the Macedonia real estate market.
Macedonia is keen to attract foreign investment (and this includes foreigners making investment in Macedonia property) and to this end, has reduced personal and corporate income tax to one of the lowest levels in the world – just 10%. This together with rapid growth in foreign direct investment and the creation of free economic zones has done much to increase Macedonia’s investment appeal. Those buying Macedonia properties will find a beneficial environment for their investment.
Macedonia Investment: Tourist Potential
If you plan to buy, Macedonia also offers interesting potential in its tourist industry and Macedonia buy-to-let property is particularly promising. Although Macedonia visitor numbers are currently low, demand is expected to grow and the World Travel and Tourism Council ranked Macedonia in 45th place (out of 176 countries) for growth potential. Projects have been completed in 2008 to improve Macedonia’s infrastructure. Skopje and Ohrid have the country’s 2 international airports and Ohrid, situated in the south west, is Macedonia’s most beautiful tourist spot and one of the country’s top areas for investment in Macedonia property.
Macedonia Investment: Property Market Future
Macedonia, compared with most other European countries, has a very new real estate market, but this is a distinct advantage for the investor in property in Macedonia. Macedonia properties are registering strong annual growth and demand for properties in Macedonia currently outstrips supply. Buy-to-let Macedonia property, e.g. apartments in Macedonia resorts, has excellent potential. Rental apartments, for example in Skopje, are currently yielding between 8% and 10% a year.
For more information, download the Macedonia Land and Property Investment Guide.
