Importance of Location in Property Valuation in Poland and European Union: A Literature Review

Real estate location is one of the most important attributes in the process of real estate valuation. However, it can be seen in various forms during valuations of all components of the real estate market. The problem of taking into account real estate features, including location, is also often discussed in the literature on the subject, but synonyms related to the location of the property are almost always used. The inconsistency in the literature, as well as the inconsistency of using uniform nomenclature on the part of practitioners, encourage taking action to standardize the scope of applicability of this most important attribute in real estate valuation.