Foreign entities, both individuals and business clients, will now be able to buy property in Macedonia under similar contract terms, market conditions and prices to Macedonian property buyers, reports the Macedonian Utrinski Newspaper daily.
The measures are part of the Macedonian government’s 50 legislative steps aimed at liberalising the market and opening up the country’s real estate market to foreigners, adopted in the context of the business climate improvement strategy.
EU and OECD (Organisation for Economic Cooperation and Development) citizens will be entitled to owning property in Macedonia. Other countries will be treated in accordance with the reciprocity principle.
Foreigners will also be allowed to buy construction plots but not agricultural lands. These are still excluded from the market's real estate liberalisation programme.
