Estonian government, having started to adopt the ideas of the theory of New Public Management, has decided to apply private sector best practices also in it´s public sector real estate asset management (PREAM). In order to evaluate the possible performance of the reforms, outlined to...

Government often faces decisions, which concern choosing between projects carrying different risk level and timing of cash flows. For calculating government real estate investment discount rate, we can apply social opportunity cost approach and derived from that the capital asset pricing model...

Since 2008 the world has witnessed a remarcable recession in global financial and capital markets, being the concequence of the subprime crisis emerging in August 2006. As Estonia is exposed to global market trends through the open economy, the problems at first started with the real estate...

Time after time, at least since 2001, there has been a lot of discussion about the real estate market failure in Estonia, where all kinds of analysts have been trying to predict a bubble, bursting quite soon. Although this kind of discussion is not new, it is obvious by now, that the situation...

During the past few years there have been many changes in financial reporting rules in EU countries. One significant change from the real estate point of view has taken place in balance sheet, where property investment account is switched to the asset side of the balance sheet, separate from the...

During the past few years there have been many changes in financial reporting rules in EU countries. One significant change from the real estate point of view has taken place in balance sheet, where property investment account is switched to the asset side of the balance sheet, separate from the...