Latvian Real Estate Market: Trends and Prospects

Definition

Immovable property plays many-sided role in economics life – it acts as a naturally-spatial basis, on which takes place all the household activities.
By moving to market economics, immovable property is distinguished as an idependent object of economic relations, which we can see from the term itself.

Firstly, we must address to the definition of the real estate in order to understand its meaning and only then move to the more detailed theoretical description.



Real estate – is a land in a way of physical object and everything that is strongly interrelated with it.

Real estate – first of all is a part of a land surface and everything that is strongly interrelated, that this connection could not be interrupted.


Real estate - or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings



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