|Friday, 14 November 2008 08:32|
Foreign individuals can acquire property in Macedonia personally or through a registered local company in the same way as domestic legal entities.Construction land is alienated through a public tender procedure. Minimum bidding prices are set by the Ministry of Transport and Communications in compliance with the Construction Land Price Determination Methodology.
The State Authority for Geodetic Works maintains authoritative data regarding land ownership. The State Authority for Geodetic Works (www.katastar.gov.mk) is an independent body in charge of conducting geodetic works and registering real estate rights. It operates through regional offices located in 29 cities throughout the country and the head office in Skopje. The registration of real estate rights in the real estate cadastre is compulsory and is done ex officio or at the request of the client.
The Ministry of Transport and Communications can grant concessions to land of general concern to the state following a public bidding process.
RIGHT TO LONG-TERM LEASE
The right to long-term lease of construction land may be established to the benefit of domestic and foreign private individuals and legal entities. The construction land is leased for a maximum period of 99 years through a public bidding process.
Prices of the apartments are calculated based on their size in square meters. The value of a square meter of a smaller apartment is more expensive than the meter of a bigger apartment or a house. In Skopje prices vary from around 450 Euro per square meter of bigger apartment on the left bank of Vardar river, to 1,300 Euro per squad meter in an a apartment in a residence building on the right bank. Prices in other towns vary between 200 and 700 Euro per square meter.
Prices of land vary between slightly less then one Euro (agricultural land), up to around 1,000 Euro per square meter, for smaller peaces of property in Skopje Vodno area.