Tržišna Vrednost Nepokretnosti Kao Jedan Od Stubova Funkcionalno-Pravnog Sistema

At the beginning of the 21st century, the Republic Geodetic Authority (RGA) established the Real Estate Cadastre system. This marked a significant advancement compared to the previous land registry system, which, by the end of the 20th century, had been the only source of information regarding land parcels and ownership. While the land registry system was important for tracking basic property data, it did not record key information such as encumbrances, property values, and similar data. For these reasons, the establishment of the Real Estate Cadastre, an initial step toward data digitalization, represented a major leap forward for the RGA toward creating a fully functional and legal cadastre system. The most crucial element in establishing a functional legal system is a solid foundation. Through the Republic Geodetic Authority (RGA), Serbia has, in recent years, succeeded in creating a stable, modern, and transparent cadastre that primarily serves the citizens and the economy, but also plays a key role in supporting the state. The functionality and reliability of the cadastre are best reflected in numerous ISO standards, which stand as proof of a mature system ready to take the next step. Key measures in establishing a functional legal system include: the creation of an Infrastructure Cadastre, the implementation of a new mass valuation system, the enhancement of data and analytics infrastructure for faster, more accurate, and more reliable data management, and the introduction of new systems for land consolidation and rational land use. This paper will focus on the mass property valuation system, specifically the process of developing valuation models, estimated property values, and real estate price indexes, which has been conducted by the Republic Geodetic Authority since 2022 and is updated and published quarterly. As of the second half of 2024, estimated values for all garage spaces in Serbia, as well as residential units within houses, have been developed and published. The estimated values of apartments, apartments in houses, and garage spaces are published quarterly on the RGA portal, allowing property owners to access these values at any time through their e-Citizen profiles, while professional users can do so via the RGA portal. This represents a significant step forward in building a functional legal system, primarily because it ensures that citizens, the economy, and the state have access to up-to-date information on property values.