Macedonia: Investment Potential
Latest News
23-Feb-2010
High Confidence in Property Investment
Confidence in real estate as an investment vehicle is high this year, particularly from institutional investors.
Macedonia: Investment Potential
The Former Yugoslav Republic of Macedonia is turning into an impressive emerging property investment market. It has undergone considerable economic reform in recent years, turning itself into an open economy that is attracting increasing foreign direct investment (FDI). With rising tourism and applications in place for membership of both the EU and NATO, Macedonia is attracting considerable interest from foreign property investors.
Macedonia's Growing Economy
The good news for property investors in Macedonia is that the World Bank has ranked the country as the fourth ‘best reformatory state' of 178 countries, with the government successfully combating inflation, bringing it down to as low as 2% in 2007. GDP is projected to rise by an average of 5.2% between 2006 and 2010 and there is currently a flat tax system which makes the country more attractive to foreign investment in general, including foreign property investors.
Favourable Investment Conditions
Property investors in Macedonia will find that the Macedonian government has introduced 50 legislative steps aimed at liberalising the real estate market and opening it to foreigners, according to a report in the Macedonian newspaper, Utrinski. Foreign property investors, both individuals and companies, can now invest in property in Macedonia on the same terms as Macedonian nationals.
Growing Tourist Figures
According to the Macedonian State Statistical Office, foreign and domestic tourism figures grew by around 5% between March 2007 and March 2008. The country's rising popularity was underlined by the fact that neighbouring Bulgaria named it as the most desirable destination in 2006, with travel and tourism expected to generate US$1,367.4 million of economic activity by 2017. The country's increasing popularity will be reflected in a rising demand for property driving up capital and rental yields - the perfect environment for property investors in Macedonia.
Macedonia Property Investment Report 2009
MACEDONIA
The Former Yugoslav Republic of Macedonia is turning into an impressive emerging property investment market. It has undergone considerable economic reform in recent years, turning itself into an open economy that is attracting increasing foreign direct investment (FDI). With rising tourism and applications in place for membership of both the EU and NATO, Macedonia is attracting considerable interest from foreign property investors.
Macedonia's Growing Economy
The good news for property investors in Macedonia is that the World Bank has ranked the country as the fourth ‘best reformatory state' of 178 countries, with the government successfully combating inflation, bringing it down to as low as 2% in 2007. GDP is projected to rise by an average of 5.2% between 2006 and 2010 and there is currently a flat tax system which makes the country more attractive to foreign investment in general, including foreign property investors.
Favurable Investment Conditions
Property investors in Macedonia will find that the Macedonian government has introduced 50 legislative steps aimed at liberalising the real estate market and opening it to foreigners, according to a report in the Macedonian newspaper, Utrinski. Foreign property investors, both individuals and companies, can now invest in property in Macedonia on the same terms as Macedonian nationals.
Growing Tourist Figures
According to the Macedonian State Statistical Office, foreign and domestic tourism figures grew by around 5% between March 2007 and March 2008. The country's rising popularity was underlined by the fact that neighbouring Bulgaria named it as the most desirable destination in 2006, with travel and tourism expected to generate US$1,367.4 million of economic activity by 2017. The country's increasing popularity will be reflected in a rising demand for property driving up capital and rental yields - the perfect environment for property investors in Macedonia.
