REAL ESTATE: LEGAL REGULATION AND TRANSACTION FLOW IN THE REPUBLIC OF NORTH MACEDONIA

The subject of this research is real estate. In that classification of property into movable and immovable, today it has become a practice to identify immovable property with real estate, which primarily addresses property that includes land and buildings or structures on it, including natural resources and air rights. It is a broad term encompassing both residential and commercial properties. This study aims to deal with real estate, with the main focus on the case of the Republic of North Macedonia. Today, it remains a key sector in the economy, involving activities like buying, selling, leasing, and developing properties. The treatment is done in two directions. On the one hand, from the perspective of the importance of real estate, this has imposed the need for national and international legal regulation, including the constitution, laws, and conventions. On the other hand, from the perspective of the importance that real estate has gained, there is a continuous increase in the volume of transactions from year to year. Through the data processing method, the results of transactions made based mainly on two forms are presented: sale and lease. The data provided from 2016, when the Register of Prices and Leases was established, shows that only in the years 2017 and 2020 there was a stagnation in the increasing volume of transactions, while in all other years the growth is evident, with reliable premises to continue the upward trend.