The “Economics of Real Estate” Department was established in 2007. It focuses on one of the most dynamically developing markets in the country - that of real estate. Due to its broad scope and specifics, real estate market reflects the trends in other sectors of the economy and, in turn, also influences them. Because of that, modern economics pays it special attention. In the Economy of consumption, it is traditionally assumed that the acquisition and effective management of real estate is the basis of economic efficiency of the individual household. The newer understanding however, is that the effective management of property is also a key factor for achieving economic efficiency in companies, business and other organizations, municipal and state structures. That’s why, in their strategic plans, along with marketing, finance, manufacturing (or their specific activities) and staff management, management of real estate is also part of planning.

Modern business is faced with the need for professionals to manage the real estate of end users (the households), economic organizations, NGOs, municipal and government bodies and structures. The activity of “Economics of Real Estate” Department is focused on meeting this needs.

The mission of the “Economics of Real Estate” Department is to prepare professionals for a specific sector – the industry with immovable property (real estate). Its creation responds to the dynamic development of this sector and its needs for highly qualified specialists. These specialists find professional realization both in companies and organizations operating in the real estate market; and in the area of management of real estate of individuals and legal entities, specialized state units and municipalities, etc.