Globalization impact on European Union real estate development

Abstract

The term globalization is frequently introduced in a literature, though there is no universal definition of the globalization concept. In this article various scientific approaches to globalization are compared. In the modern global economy environment it is common problem to conform under speedy changes and continuously dynamic market in the worldwide scale. Therefore in this article it is analysed the real estate market, their features, the models of the real estate development processes. The external factors affecting real estate in Europe Union are defined. The attitudes of the authors describing the terms are provided as well as consequences of the analysed factors, which can affect the real estate development processes.