ABSTRACT
The value of real estate (RE) extends far beyond the land, buildings and fixtures that define it. As well as a reliable financial investment, RE is valued as a place of residence, work, business and leisure, which can provide security and produce an income. Consequently, there are many stakeholders such as sellers, buyers, developers, creditors, agents, investors, and valuers, with varying demands and requirements with respect to the RE. To satisfy their needs there are various procedures and controlling measures, such as RE law, market analysis and valuation practice, which have to be considered. In order to understand the current state of the RE market, including valuation practice in any country, it is necessary to consider past economics and social events that have occurred and fundamentally shaped the state of today's economy. This chapter provides an overview of Slovenian, Hungarian, Polish and Lithuanian RE markets, including the analysis of main players/actors, RE legal framework and RE valuation practice.
