Skopje, 28 August 2022 (MIA) – One square meter of a residential area in the outskirts of the capital city costs two average wages, and over three are required for a square meter in the most attractive areas. Elsewhere, it costs a little over one average salary. To buy an apartment in Skopje, one would need 117-211 average salaries, or the overall wages of a person of approximately 10-17.5 years. This data is based on the prices of a square meter from EUR 1000-1800 depending on the location and municipality in Skopje and the average net wage in June this year amounting to EUR 518. In other cities, Macedonian residents can have a new place to live with the overall wages of 7 years. MIA’s analysis, according to data from current advertised apartment prices through randomly selected real estate agencies, shows that a 60-square apartment at the most attractive locations in Skopje that goes for EUR 1800 costs 108,000 or 208 average salaries, which is over 17 years of work, if paid for in cash. For an apartment in Centar of 60 square meters, with a price of EUR 1,600 per square meter, EUR 96,000 are needed, that is, 185.3 average salaries or incomes within 15 years. For an apartment with the same square footage in the Kapishtec neighborhood at a price of EUR 1,200, you need to set aside EUR 72,000, that is, approximately 140 average salaries or work for over 11 years. For an apartment of 60 square meters under construction in Kisela Voda municipality, advertised with a price of EUR 1,400 per square meter, EUR 84,000 should be paid, that is, 162 salaries or 13.5 years of work. If someone decides on an apartment with that area, but at a price of about EUR 1000 per square meter, which can be found in the advertisements only in the peripheral settlements, they will have to set aside 117 salaries, that is, save all their income for almost 10 years. To buy a luxury apartment in Ohrid of 63 square meters, for which the price is EUR 1450, EUR 91,350 are needed, which is 179 average salaries or almost 15 years. In Ohrid, among the advertised apartments for sale there are also apartments at a price of EUR 1,080, so for an apartment of 56 square meters you need EUR 60,480 or 118 average net salaries, or approximately ten years. In Shtip, an advertised apartment of 52 square meters for a total of EUR 52,000 requires 100 average salaries, that is, 8.3 years. To buy an apartment in Dojran, on the other hand, where some of the advertised ones are priced at EUR 900 per square meter, 60 square meters require EUR 54,000, that is, 104 average salaries or 8.6 years of work. In Kochani, on the other hand, for an apartment under construction of 60 square meters, at a price of EUR 730, or a total of EUR 43,800, it is necessary to work for seven years, that is, to allocate 84 salaries. An apartment with that square footage in Kriva Palanka would require six years of work, where there are apartments listed at a price of EUR 625 per square meter. Czechs to new real estate in 13.3 years, Belgians in 4.5 years The latest survey of the Deloitte Property Index 2022, which covers 23 countries, according to calculations from the ratio of gross annual earnings and price, shows that the Czechs have to work the longest to buy real estate, 13.3 years. That's almost four times more than the Irish, who need just over three years. The inhabitants of Slovakia need 12.76 annual salaries, those in Serbia 11.5 years. In Norway, you can buy new property with an average income of 4.4 years, and in Belgium 4.5 years. The research shows that the cheapest new constructions are in Bosnia and Herzegovina with an average price of EUR 974 per square meter, in Romania the average square meter costs EUR 1,266, in Croatia 1,823, and in Slovenia EUR 3,356. The most expensive square residential area of the countries included in the research is in Great Britain, where the price is EUR 4,905, ahead of Austria with EUR 4,782 and France with EUR 4,639. Germany and the Netherlands joined the list of the most expensive countries in 2021, with prices of EUR 4,600 and EUR 3,949 per square meter. Growth of real estate prices in the second quarter as well The price of real estate in North Macedonia continued to increase in the second quarter of the year, when it recorded a growth of 16.5 percent annually and 6.8 percent quarterly. In the first quarter of this year, the growth of real estate prices was 12.4 percent on an annual level, and 2.9 percent quarterly. The calculations of the Forton MKA real estate consulting company, published at the end of June this year, show that the average price per square meter of residential space in Skopje has increased by 20 percent in the past three years. Lidija Velkovska Translated by Dragana Knezhevikj