ARCHITECTURAL AND HISTORICAL MONUMENTS - REAL ESTATE MARKET SEGMENT

Abstract

Architectural and historical monuments represent an important segment of the real estate market. Many of them are included in the civil circuit and influence the area in which they are located. In the present study, the authors examined the world heritage and its state. Applying the structural analysis, inspection and bibliographic synthesis, the national heritage and its condition were examined. The impact of the real estate listed in the Register of Monuments on the real estate market was studied. Analyzing transactions with real estate with cultural, historical, and architectural value, internationally found considerable influence on the price of two basic factors: cultural character (historical, architectural) and physical condition. In the Republic of Moldova, the following factors have a major influence on the prices of real estate-monuments: the location in the historical area of the city, the lack of parking spaces, the physical condition of the building, including the condition of engineering networks. In the conditions of Republic of Moldova, the true estimation of the impact of the “cultural / architectural” factor on the value of real estate is impossible due to the lack of a database on the “de facto” prices of real estate trading.