IMPLEMENTATION OF THE INTERNATIONAL REAL ESTATE TRANSACTIONS OPENNESS ASSESSMENT IN LATVIA

In order to evaluate the ability of a country to attract an international investment real estate transaction, research was conducted to determine the criteria for and constituents of the International Real Estate Transactions Openness index as a set of systemic criteria. In Latvia, the assessment of such criteria is expressed as an index, and it was introduced in 2018, henceforth designated as the base year. The elaborated methodological solution for the assessment of International Real Estate Openness allows for the comparison of the institutional environment of international real estate transactions in any given country. In future it will be advisable to conduct an identical assessment of the institutional environment abroad (for example, in the Baltic states) to help foreign investors to evaluate the openness of each country to such transactions and to cross-check individual criteria at an international scale.