Skopje, 1st March 2016 (MIA) – Construction is the pillar of Macedonian economy. Last year, construction experienced 12% growth for a period of 9 months, and such trend is expected to continue in the next period as well.

What was stated at the opening ceremony was that the construction companies observed growth of the sale of flats in the first months of this year, and they expect for the Government’s “Young Individuals and Couples Housing Project” and “Buy a House Buy a Flat Project” to also contribute thereto.  By 5th March, the citizens may see the offer of over 3000 flats and more than 3000 state lots at one place, i.e. the Construction and Real Estate Fair at the Skopje Fair premises, being held under the auspices of the Ministry of Finance for a second year in a row.

The opening ceremony was launched by Deputy Prime Minister and Minister of Finance, Zoran Stavreski.

– Construction is a significant branch of the Government’s economic strategies and policies. It is the main support to Macedonian economy. Government supports the construction sector through several measures and projects – through the public investments, i.e. the major capital projects in which the state invests, followed by a series of projects such as the 5% VAT preferential rate for first sale of flats, as well as the “Young Individuals and Couples Housing Project” launched this year, as a step-forward Project of the “Buy a House, Buy a Flat Project”, launched in 2012, Stavreski said.

He went on that flats, houses and construction materials are offered at one place. According to him, the partnership of MoF, though both Projects creates a synergy with the Construction Fair, thus giving an opportunity to its visitors for getting the necessary information and rich offer at one place.

At the Fair, thirteen municipalities, out of which four are from Skopje, offer over 3,000 state lots favourable for the “Young Individuals and Couples Housing Project”.

Mayor of Ilinden Municipality Zika Stojanovski said that this local government is ready, having available 500 lots under the “Jaka” Project.

– There is sufficient number of locations precisely for building houses. There are 500 lots under “Jaka” Project, where some of the investors have been issued building permits, by which they are prepared to participate in the “Young Individuals and Couples Housing Project”, Stojanovski said, adding that this Project is ideal precisely for the rural areas.

There are 370 lots in Prilep with initial price of EUR 1 per square meter in Gradina settlement. Mayor Marjan Risteski stressed that interest in these lots was especially shown following the announcement of the Government’s “Young Individuals and Couples Housing Project”.

– There was interest for offering as many lots as possible. In addition to the citizens and young people, the municipality will also have great benefit from the project, since part of the overall infrastructure for normal functioning of the settlement will be funded by the Government, Risteski said.

Construction workers expect further growth in the sector and greater sale of flats, expecting no change in the prices per square meter.

Robert Hot from the Construction Chamber within the Macedonian Chambers of Commerce, pointed out that the construction sector is expected, as so far, to be the driving force of Macedonian economy in the next four years at least. “Buy A House, Buy a Flat” Project”, and particularly the new Young Individuals and Couples Housing Project” the target of which are the young individuals wanting to buy their own home, will additionally contribute to the increase of the capacities of the construction sector.

– There is great interest, and as a result of the offer of lots from the municipalities, we expect for this interest to increase from day to day, Hot said.

He underlined that the real estate market has been stable for a long period of time, and no price reduction of the flats is expected.

Zoran Azmanov from Nastel recommended that reducing the prices of flats is not a good thing, since, as he said, than the economy experiences downward trend.

According to Vanco Cifliganec from Adora Inzinering, prices of flats are favourable given the offered quality.

He stressed that the sale of flats is increasing this year and that there was growth in the first two months this year, being provided by the favourable housing loans, as well as the low interests on deposits.

Gligor Bisev from Sparkasse Bank pointed out that the interests on housing loans depend on the supply and the demand of deposits, and that they will be the same as for the loans, i.e. they will follow the trend of the cost of capital, i.e. the savings.

– Savings increased in the last two years with 7% growth rate, and the credit activity of households picked up by 13%, meaning that there should be inflow of foreign savings to the banks, which will depend on the developments on the international financial markets, Bisev explained.

During the Fair, the construction companies offer discounts to the consumers, as well as additional incentives together with the banks and the insurance companies. 


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