No one buys apartments, building firms hope for foreigners.
Real estate agencies say that it is clear that the real estate market crisis is neither a coincidence or short-lived as some suggested during the summer. Agents say that buying apartments has tapered off by more than 30 percent. However, this has no major effect on prices, especially not when it comes to new buildings.
"In the center of Skopje, prices range from 1,150 to 1,350 euros per sq. meter. These are by far higher prices than those in Belgrade, Thessaloniki or Sofia," real estate agents say.
They further explain that new apartments are likewise expensive in Ohrid (800-1,200 euros per sq. meter) where the foreign citizens' interest in buying real estate is expected to rise. This means that Macedonian real estate prices compared to those in the region are not at all competitive and that there is room for them to fall.
Unlike new buildings, prices of old apartments have already declined by 10-15 percent, according to the real estate agencies.
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|Title Annotation:||BUSINESS NEWS|
|Publication:||INFOMAC Daily News Service|
|Date:||Dec 12, 2012|
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