Published on and written by Cyril Jarnias
In a world where more and more seniors are choosing to spend their retirement abroad, North Macedonia is emerging as an intriguing destination for expatriates seeking new adventures. With its affordable cost of living, picturesque landscapes, and rich cultural heritage, this Balkan country offers countless investment opportunities for those looking to fully enjoy their golden years.
Off the beaten path, investing in real estate or local small businesses can provide interesting and profitable long-term prospects. Discover how to turn your retirement into an exciting and rewarding project in this hidden gem of Southeastern Europe.
Attracting European Retirees: Why Choose North Macedonia
North Macedonia is increasingly attracting European retirees thanks to a unique combination of economic, environmental, and human advantages.
Affordable Cost of Living:
- The cost of living is estimated to be 45-50% lower than in Western European countries.
- Rents are particularly low, allowing retirees to enjoy an excellent standard of living on a monthly budget between €1,000 and €1,500, or even less.
- A couple can live very comfortably on about €1,500 per month.
Tax Benefits for Senior Expatriates:
| Tax | Rate or Situation |
| Income Tax | Flat rate of 10% |
| Dividend Tax | Exemption |
| Wealth Tax | None |
| VAT | 18%, (5% on certain products) |
These tax conditions allow retirees to optimize their purchasing power and attract those who wish to fully enjoy their pension.
Pleasant Climate & Preserved Landscapes:
- North Macedonia enjoys a temperate continental climate, with hot, dry summers and moderate winters in the plains.
- The lakes (Ohrid, Prespa), mountains, and forests offer an exceptional natural setting conducive to well-being and relaxation.
Local Hospitality:
- The warm welcome from residents is often cited as a major asset. Newcomers frequently report the keen sense of Macedonian hospitality, which facilitates their integration.
Healthcare Accessibility & Medical System:
- Thanks to a bilateral agreement between France and North Macedonia, French pension holders can benefit locally from healthcare services as if they were covered by the Macedonian system.
- After registering with local funds using form SE 21-35, they gain access to medical care reimbursement for themselves and their dependents who usually reside in the country.
- In case of a temporary stay in France, they also continue to be covered by French health insurance.
Cultural & Social Integration:
- The gentle pace of daily life in Macedonia promotes easy adaptation. Many expatriates report quickly making connections through:
- Local markets,
- Community activities,
- Language courses or municipal cultural events,
- Active French or English-speaking communities in several cities (Skopje, Ohrid).
“We chose Ohrid for its natural beauty; here our retirement truly allows us all kinds of activities without depriving ourselves. The family-like atmosphere surprised us from the moment we arrived,” shares Jean-Luc (67), settled for three years with his wife.
“I was struck by the mutual help among neighbors—even without speaking perfect Macedonian! The moderate cost allows me to travel regularly throughout the region,” explains Hélène (62), a former nurse who moved after discovering the country on a tourist trip.
In summary:
- An advantageous economic solution
- A peaceful environment
- Accessible medical infrastructure
- Hospitality that facilitates social integration
The country thus offers a credible alternative to traditional Mediterranean destinations while still being relatively undiscovered.
Good to know:
North Macedonia is attracting many European retirees thanks to its affordable cost of living, allowing for a higher purchasing power than in several EU countries. The Mediterranean climate, with its mild winters and sunny summers, appeals to those fleeing extreme temperatures. The beauty of the landscapes, ranging from mountains to serene lakes, offers a soothing setting to enjoy retirement. Moreover, the locals, known for their hospitality, facilitate cultural and social integration for expatriates. The Macedonian tax system is also attractive, offering favorable conditions for retirees, including tax exemptions on foreign pensions. Medical infrastructure is well-developed with relatively easy access to healthcare, reassuring seniors seeking medical security. Testimonials from retirees, such as that of Pierre, a Frenchman settled in Ohrid, praise the friendliness of the community and the improvement in their quality of life thanks to these advantages.
Investing in Real Estate: A Peaceful Retirement in North Macedonia
The real estate market in North Macedonia is experiencing steady growth, illustrated by rising urban property prices and marked interest from foreign investors. Apartments in Skopje, the capital, command the highest prices (between €1,500 and €2,000/m²), driven by constant demand and the development of modern infrastructure. Other attractive hubs include Ohrid—especially near the lake where land scarcity is pushing prices up—as well as Bitola (stable market) and Tetovo (dynamic student population). The average price per square meter in the city is around €1,783, well below Western European standards.
| City | Property Type | Average Purchase Price (€/m²) | Purchase Range (€) |
|---|---|---|---|
| Skopje | Apartment | 1,500 – 2,000 | 90,000 – 180,000 |
| Ohrid | Apartment/Lake | 1,400 – 2,000 | – |
Areas Preferred by Senior Expatriates:
- Skopje for its medical services, international shops, and cultural life.
- Ohrid for its exceptional natural setting around the lake, tranquility, and UNESCO World Heritage status.
- The rural or suburban surroundings offer an even lower cost of living while remaining accessible.
Financial Advantages:
- Acquisition cost lower than in most European countries.
- Low property taxes (0.1% to 0.2% of the value).
- Real estate sales tax set at only 10%.
- Attractive rental yield opportunities in tourist or university areas.
Legal Procedures for Foreigners:
- A foreigner can purchase real estate subject to reciprocity with their country of origin.
- Mandatory signing before a notary; the deed is then registered with the national cadastre, ensuring legal security.
- New legislative measures now allow for preliminary agreements to be signed for new constructions, offering better contractual visibility.
Regulations Specific to Retirees:
There is currently no official “retiree” visa, but it is possible for non-European residents to obtain a renewable temporary permit linked either to real estate acquisition, family reunification, or through sufficient proof of stable resources.
Testimonials
“We chose Ohrid for our retirement: between the calm of the lake and the reasonable cost of local medical care. The international community grows every year.”
“Buying here was simple thanks to the bilingual support offered by some local agencies; we found a modern house with a view of Skopje for much less than in Western Europe!”
Practical Tips for a Successful Investment:
- Always use a locally recognized real estate agency or one recommended by established expatriates.
- Verify that all cadastral documents are compliant before signing with the notary.
- Seek advice from a bilingual specialized lawyer to avoid any surprises regarding local taxation or potential inheritance rights.
- Visit several neighborhoods in advance to assess accessibility to healthcare, proximity to essential shops, and the general atmosphere according to your desired lifestyle.
Investing in Macedonian real estate not only provides affordable access to housing but also gradual integration into a peaceful environment that still benefits from strong appreciation potential on its main residential assets!
Good to know:
The real estate market in North Macedonia is booming, with Skopje and Ohrid among the preferred destinations for senior expatriates seeking tranquility and beautiful properties at reduced costs. Investing here offers numerous financial advantages, including low ownership costs and attractive rental yield opportunities. For foreigners, the process of acquiring real estate is relatively straightforward, although it is important to understand the specific regulations applying to retirees, such as those concerning proof of stable income. Senior expatriates testify to their happiness in this welcoming country, highlighting a pleasant quality of life and friendly relations with the local population. To ensure a successful purchase, it is highly recommended to use local real estate agencies or experts who know the market well and to visit as many properties as possible before making a decision.
The Best Cities for Seniors in North Macedonia
North Macedonia is increasingly attracting seniors and retirees for several reasons: a very affordable cost of living, high safety, varied landscapes blending lakes, mountains, and rich cultural heritage, as well as an accessible healthcare system. Its moderate continental climate also allows for enjoyable summers and mild winters.
Infrastructure and Services for Seniors
- Healthcare System: Major cities like Skopje, Ohrid, and Bitola have modern hospitals, specialized clinics, and English-speaking doctors in private or university facilities. Care is financially accessible.
- Transportation: Efficient network in Skopje (modern, low-cost buses), cheap taxis in all main cities. Generally good accessibility to medical and cultural centers.
- Urban Amenities: Numerous local markets for fresh produce, well-stocked pharmacies, banks with services tailored to expatriates.
| City | Average Monthly Rent (1 bedroom, center) | Meal at Restaurant | Monthly Public Transport |
| Skopje | 200–350 € | 5–8 € | ≈20 € |
| Ohrid | 180–300 € | 4–7 € | ≈15 € |
| Bitola | 170–280 € | 4–7 € | ≈15 € |
Costs vary by exact location but remain significantly lower than in European capitals.
Quality of Life & Leisure
- Skopje
- Dynamic capital offering contemporary museums (National Museum), theaters, modern art galleries.
- Vibrant nightlife but quiet neighborhoods available for those seeking rest.
- Shaded urban parks (City Park).
- Active international community facilitating expatriate integration.
- Ohrid
- UNESCO-listed lakeside town known for its exceptional natural environment: beaches on Lake Ohrid, historic walks around Byzantine churches.
- Regular cultural festivals (classical music in summer).
- Peaceful atmosphere ideal for a tranquil retirement while remaining close to essential amenities.
- Bitola
- Unique blend of ancient past (Greco-Roman ruins) and youthful ambiance thanks to its many literary cafés on the pedestrian street Širok Sokak.
- Proximity to Pelister National Park allowing easy hikes even for active seniors; clean air guaranteed by the nearby mountain range.
General safety is considered very good in these three cities; low crime rate compared to European standards.
“After living twenty years in mainland France and a few years in Spain, I chose Ohrid with my wife. The calm of the lake is unmatched… We quickly made friends with locals and expatriates alike!” — Alain D., French retiree
“I particularly appreciate Bitola because everything is accessible on foot. Medical care is quick; I feel reassured here.” — Marianne S., Belgian retiree
For investors or future residents seeking a serene setting without sacrificing their comfort or usual European retirement budget, these three cities each constitute an attractive option thanks to their adapted infrastructure and a genuine daily quality of life.
Spending your retirement in North Macedonia combines tranquility, cultural richness, and budget economy
Good to know:
North Macedonia is an increasingly popular destination for European retirees, offering an affordable cost of living and infrastructure adapted to the needs of seniors, particularly in the cities of Skopje, Ohrid, and Bitola. Skopje stands out for its modern healthcare network and numerous green spaces, while Ohrid, with its cultural heritage and magnificent lake views, attracts with its leisure activities and peaceful atmosphere. Bitola, known for its historic center and friendly ambiance, offers an appreciated quality of life, enhanced by a growing expatriate community. Costs in North Macedonia are generally lower than in Western European countries, making it an economical choice for retirement investment. Testimonials from retirees living in Bitola confirm the sense of security and integration fostered by the warm welcome of the residents and easy access to essential services. For those wishing to diversify their activities, Skopje offers a dynamic cultural life with many museums and festivals, complemented by transport infrastructure facilitating travel across the country.
The Cost of Living in North Macedonia: An Asset for Your Retirement
The cost of living in North Macedonia represents a major asset for retirees seeking a destination to optimize their purchasing power. The country shows a standard of living approximately 45% lower than in France and up to 58% lower than other Western European countries, translating into substantial savings on all everyday expenses.
| Expense Item | North Macedonia (€/month) | France/Western Europe (€) | Estimated Difference |
| Studio rent city center | 150-250 | 600-1000+ | -60 to -75% |
| 2-bedroom apartment center | 250-350 | 900-1400+ | -60 to -75% |
| House suburbs | 400-600 | >1200 | -50% |
| Lunch at restaurant | 5-6 | 12-18 | -55 to -70% |
| Grocery shopping | 200-250 | >400 | -40 to -50% |
| Bus/subway ticket | ~0.6 | ~2 | -70% |
Housing
Seniors benefit from very competitive rents. A comfortable apartment in the city center costs between €150 and €350, while a house in the suburbs rents for around €400–€600, even in the capital Skopje. In comparison, similar properties can cost two to three times more in the European Union.
Food
The grocery basket is also very affordable: local fruits and vegetables between €0.8 and €1.2 per kilo, meals at restaurants from €5–€6, coffee around €1–€1.5. This price moderation promotes a varied diet without budgetary constraints.
Healthcare
Medical care is financially accessible for foreign residents; several private facilities offer services meeting European standards at much lower prices than those in Western Europe. Many retirees choose international or local health insurance to supplement their coverage.
Leisure
Cultural outings (cinema: about €3–€4) or sports activities remain inexpensive; lively cafés and restaurants allow seniors to maintain an active social life without fearing the financial impact. Outdoor activities such as hiking or nature excursions are common due to the overall low cost.
“We chose North Macedonia for our retirement because here we can fully enjoy our pension while living comfortably. Our monthly budget was cut in half compared to our former life in France,” explains a French couple settled near Lake Ohrid.
“With our modest but stable income from Germany, we have access here not only to spacious housing but also to regular leisure activities without having to watch every expense,” testifies a German retiree who has been an expatriate for three years.
Tax Benefits & Favorable Provisions
Macedonian taxation remains attractive: fixed income tax (flat tax) among the lowest in Europe (10%), no double taxation on certain foreign pensions according to bilateral agreements—all elements that enhance the financial interest in settling here long-term. Simplified administrative procedures also exist to obtain a long-stay permit for non-active seniors wishing to peacefully live their retirement under the Balkan climate.
By choosing North Macedonia as a retirement destination, many thus find a setting where their purchasing power experiences a genuine daily revaluation while maintaining quality and comfort of life.
Good to know:
North Macedonia stands out for a cost of living significantly lower than that of many European countries, thus offering a unique opportunity for retirees seeking to maximize their purchasing power. Housing is particularly affordable, with rents and property purchase prices markedly lower than in major European cities, while the cost of food remains moderate, allowing enjoyment of varied local cuisine without breaking the bank. Healthcare services, although requiring some private insurance for expatriates, offer good value for money, and leisure activities, such as cultural or outdoor pursuits, are also accessible at lower cost. Many retirees testify to the country’s tax attractiveness, mentioning reduced taxes and advantageous provisions for senior expatriates, which lighten overall expenses. Moreover, the friendliness of the residents and the peaceful living environment, combined with these financial benefits, make North Macedonia particularly appealing for seniors considering a comfortable and enriching retirement.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
