North Macedonia tightens home loan rules from 1 December

The National Bank of North Macedonia is introducing new limits on borrowing and repayment periods. From 1 December, loan conditions for citizens will become stricter. Under the new measures, the ratio of total monthly loan obligations to borrowers' income will be cut by five points: the cap on denar loans will fall from 50% to 45%, and on loans with a foreign-currency component from 45% to 40%.

The source gives an example: a citizen earning 60,000 denars a month could previously take on monthly loan obligations of up to 30,000 denars. From December, that person can pay no more than 27,000 denars a month. Repayment periods are also changing. Loans for a second or additional home may run for up to 25 years instead of 30. The maximum repayment period for mortgaged consumer loans will fall from 20 years to 15.

An exception applies to people buying a home for the first time. For them, the maximum repayment period stays at 30 years and a minimum down payment of 10% remains available. For other property buyers, the minimum down payment ratio will remain at 25%, in line with measures introduced in December 2025.