Where to buy

If you want to buy some vacation property or prepare for your retirement, the Medieval town of Ohrid is right for you. It's situated on the coast of the Ohrid lake near the border with Albania. In the pure air, surrounded by 1000-years-old Orthodox monasteries you can freely meditate and think on the origins of the Universe for only $500 to $1000 per sq.meter. If you consider this as too expensive for you, then you can simply rent a house for $5-10 per sq.meter a month. If you are only passing by this really extraordinary ancient town, you can find a nice hotel for $25-30 per night for a 2 bed room.

In the capital Skopje the rents for houses for residential purposes vary between $4 and $12 per sq.meter monthly. The condominiums can be rented from $3 to $7 per sq.meter per month. Twice as expensive are the rents for offices and retail spaces. If you are on business trip to Skopje never accept to stay at the hotel in the city center. The most of the hotels are old, with poor services which cost at least $50-60 per night. Instead of this simply choose between one of the small family hotels not too far from the city center. The services are better quality, the prices are as low as $15 per night for single room and the transport links to the center are frequent and convenient.

Property Rights

Protection of property in Macedonia still needs to be strengthened. According to the Economist Intelligence Unit, "the judiciary is politicised, especially in cases involving minorities.… Macedonia is making only slow progress in harmonising its laws and judicial standards with those of the EU and the Council of Europe." The U.S. Agency for International Development identifies "an inefficient judiciary and a lack of rule of law [as] key impediments to the economic and democratic development of the country."

Foreign Investment

Macedonia grants foreign and domestic investors equal treatment and—with the exception of a few sectors, such as arms manufacturing—permits non-residents to invest in domestic firms, establish new firms, or launch joint ventures without restrictions. Foreign investors can also acquire state-owned firms that are slated for privatization. The European Bank for Reconstruction and Development reports that foreign direct investment "is at a low level as many foreign investors continue to be deterred by a difficult investment climate and perceived political and security risks." According to the Economist Intelligence Unit, Macedonia has received $1 billion in foreign investment since gaining its independence, but "FDI has dried up since then because of the sharply increased political risk and continued weaknesses in the business environment." The International Monetary Fund reports that residents may hold foreign exchange accounts with approval from the central bank and that non-residents may hold foreign exchange accounts subject to some restrictions. Payments and transfers face few controls and restrictions. Most capital and money market activities require the approval of or must be registered with the government. Residents are generally not permitted to buy real estate abroad.