Published on and written by Cyril Jarnias
In North Macedonia, the real estate market is undergoing a notable transformation with the emergence of “co-living spaces,” a trend that is attracting more and more investors and residents. This innovative concept, combining shared spaces and private accommodations, addresses both the need for financial accessibility and social connectivity, particularly appealing to young professionals and students.
By adapting to contemporary aspirations for a dynamic community life while ensuring a degree of independence, these spaces are reinventing the Macedonian urban landscape, reflecting a major shift in how people live and find housing.
The Rising Popularity of Co-living Spaces Among Young People
Socio-cultural and economic factors play a central role in attracting young people to co-living spaces in North Macedonia. The rising cost of living in urban centers makes it difficult for many young professionals and students to access individual housing. The co-living model, based on sharing common areas (kitchens, living rooms, coworking spaces), significantly reduces expenses related to rent, utilities, and maintenance.
“By sharing living spaces and collective facilities, residents can significantly reduce their monthly expenses while staying close to economic, academic, or cultural hubs.”
Major Economic Factors
- Continuous increase in urban living costs, especially for housing.
- Difficulty accessing affordable housing for young professionals or students.
- Opportunity to enjoy a comfortable setting at a lower cost through resource sharing.
Social Dynamics Favoring Co-living
- Increased search for social interaction, mutual support, and professional opportunities through networking.
- Marked preference among younger generations (Millennials & Gen Z) for collective experiences over material ownership.
- Desire for quick social integration during mobility (studies, first job).
| Factor | Impact on Co-living Choice |
|---|---|
| Housing Cost | Reduction through sharing |
| Social Isolation | Broken by a dynamic community |
| Expected Flexibility | Short contracts/geographic adaptability |
Recent Demographic Data
The majority of residents are:
- Individuals aged between 20 and 35,
- Young professionals,
- Foreign or local students seeking independence,
- Freelancers attracted by rental flexibility.
In 2024, over 70% of global occupants are from Generations Y & Z; this trend is also found in several Balkan capitals where these profiles make up more than two-thirds (2/3) of residents.
Advantages Highlighted by Residents
List based on testimonials collected from young people living in these spaces:
- Contract flexibility without long-term commitment
- Easy adaptation during professional or academic changes
- Immediate access to a supportive community
- Stimulating environment through intercultural exchanges
- Sharing allowing for better quality/infrastructure than traditional individual rentals
“I was able to move in quickly with no hidden fees or lengthy paperwork. Having everything included allowed me to focus on my work right after my arrival,” explains Ana-Maria R., an international student in Skopje.
Rapid integration into a dynamic social network strongly contributes to the growing success of the concept among Macedonian youth, who are thus shaping their own contemporary residential model adapted to local economic realities.
Good to Know:
In North Macedonia, the growing popularity of co-living spaces among young people is primarily driven by socio-cultural and economic factors. Faced with an increasing cost of living and a transitioning economy, these spaces offer an affordable and flexible solution compared to traditional rentals. Young people, often confronted with precarious job prospects, find in co-living an opportunity to share costs while benefiting from a rewarding community life. According to a recent study, about 70% of residents in these spaces are between 20 and 35 years old, reflecting a demographic that highly values social interaction and adaptability. Moreover, these living arrangements facilitate multicultural encounters, enriching the local social fabric. Resident testimonials highlight a sense of belonging and mutual support, with positive feedback on improved mental and social well-being. Thanks to their flexibility and collaborative structure, co-living spaces continue to attract a generation eager to enjoy a modern and community-oriented lifestyle.
Characteristics of Upscale Co-living in North Macedonia
An upscale co-living space in North Macedonia is distinguished by a combination of modern amenities, strategic location, and premium services tailored to a demanding clientele.
Available Amenities:
- Integrated gyms or access to partner fitness centers
- Private cinemas for residents
- Fully equipped coworking spaces with high-speed Wi-Fi
- Rooftop pools, jacuzzis, designer lounge areas, and shared terraces
- Home automation, high-end appliances, contemporary furniture
| Amenity | Description |
|---|---|
| Gym | 24/7 access or partnership with a club |
| Coworking Space | Individual desks and meeting rooms |
| Private Cinema | HD projection reserved for residents |
| Pool/Jacuzzi | On the rooftop or in a wellness area |
Prime Location:
Properties are typically located:
- Close to city centers (notably Skopje)
- Within walking distance of major public transport (buses, trams)
- Immediately adjacent to business districts and shopping areas
Services Included in the Offer:
- Regular cleaning (weekly or bi-weekly)
- Very high-speed Wi-Fi in all common and private areas
- Enhanced security: keypad entry, video surveillance, 24/7 concierge
Typical Resident Profile:
Young professionals, entrepreneurs, expatriates working in tech or financial services. Some privileged international students also seek these shared environments for their comfort and dynamic social network.
The accommodations feature elegant and minimalist design as well as modern amenities that attract this clientele concerned with comfort.
Current Market Trends Favoring This Development:
- Rapid growth of remote work creating demand for collaborative home workspaces.
- Increasing attractiveness of major Macedonian cities among expatriates.
- General upscaling expected by the young urban generation.
Growing Interest Among Real Estate Investors:
Investors are turning to this segment because it combines high occupancy rates, above-market rents, and simplified management through service automation. The growing diversity of the resident profile (internationally mobile professionals) strengthens the security appeal of these investments.
Good to Know:
Upscale co-living spaces in North Macedonia stand out with luxurious amenities including modern gyms, private cinemas, and well-appointed coworking spaces. Often located near vibrant city centers with easy access to public transport, these properties primarily attract young professionals and entrepreneurs seeking a dynamic and connected living environment. The services offered, such as regular cleaning, high-speed Wi-Fi, and enhanced security systems, meet the expectations of a demanding clientele. The growing trend of living in shared spaces also attracts both local and international investors, eager to bet on this expanding market, stimulated by increased demand for flexible and friendly housing solutions.
More and more people in North Macedonia are choosing shared spaces (co-living), especially in large cities, to address rising real estate prices and the search for a more flexible and community-oriented lifestyle. This phenomenon is part of a global trend driven by young urban professionals (mainly Generation Z and Millennials) who prioritize accessibility, professional mobility, and belonging to a dynamic community.
Main Factors for Adopting Co-living in an Urban Context:
- Easier access to housing despite a tight market
- Contract flexibility without long-term commitment
- Search for a strong social network in the city
- Sharing of common spaces (kitchen, coworking)
Social and Economic Benefits:
| Benefit | Detail |
|---|---|
| Reduced Cost of Living | Shared rent, included utilities, shared amenities |
| Supportive Community | Regularly organized events promoting mutual aid, cultural & professional exchanges |
| Contract Flexibility | Ability to easily change housing according to needs |
| Increased Well-being | Reduced isolation through daily interactions |
“Since I moved into my shared space in downtown Skopje, I’ve not only reduced my monthly expenses but also expanded my social circle. The workshops organized every week have allowed me to grow professionally while feeling at home,” testifies Aleksandar J., a satisfied resident.
Recent Co-living Statistics:
- In Central and Eastern Europe, the segment has seen an estimated annual growth of 10% to 15% since 2021.
- Nearly 90% of residents are under 35, illustrating the appeal to young urban workers.
- Demand is particularly strong in regional capitals where the traditional rental market remains less accessible.
International Comparison:
| Country | Dominant Trend | Notable Characteristics |
|---|---|---|
| Germany | Massive Development | Spaces dedicated to students & freelancers |
| France | Hybrid coworking/co-living models | Focus on social diversity |
| Seychelles | Adaptation to island constraints | Emphasis on flexibility & professional synergies |
In all these mature and emerging markets:
Contract flexibility, digital management of shared spaces, and social integration are consistently highlighted as key drivers of attractiveness.
Impact on the Local Real Estate Market:
- Increased pressure on certain traditional segments (small apartments), encouraging property owners to convert their assets to meet this new demand.
- Gradual rise in rents observed if too many apartments are converted at the expense of the classic housing stock.
Important Note
Co-living models also require regulatory adaptation to ensure legal security for residents while avoiding a major imbalance in the traditional rental market.
Cultural and Economic Redefinition of Housing in North Macedonia:
Professional co-living is no longer perceived solely as a temporary solution or reserved for students but is now establishing itself as a structural choice rooted in a modern collective logic. This evolution reflects:
- A gradual shift towards a collaborative model inspired by European practices;
- A cultural revaluation around communal living;
- Increased openness to foreign or diaspora investment wishing to energize this promising sector.
In conclusion:
Shared spaces are durably reshaping local expectations, combining concrete economic gains with tangible strengthening of social bonds – two pillars that have become essential for many modern Macedonian urbanites.
Good to Know:
In North Macedonia, shared spaces, or co-living spaces, are becoming increasingly popular, especially in urban areas, thanks to their ability to significantly reduce the cost of living and create close-knit communities; in 2023, the number of co-living units increased by 30% compared to the previous year. This concept appeals due to its economic and social benefits, comparable to those already observed in countries like the United States or Germany, where co-living is well established. Shared spaces allow a unique marriage between community tradition and modernity, meeting the changing expectations of young urban professionals and influencing the local real estate market by promoting construction focused on sustainability and flexibility. Testimonials from residents in North Macedonia praise not only the friendliness and supportive spirit but also the savings made on shared goods and services. This dynamic, fueled by the country’s specific needs, makes it a wise alternative in the face of inflation and real estate prices, while redefining cultural norms of communal living.
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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.
