The role of land in the value of real estate objects

The author examines the category «land» and its interpretation in modern socio-economic conditions and legislation ofdifferent countries. Identifies the need to take into account the cost of land in a modern economy. Identifies the problem of allocating the share of the cost of a land plot in the cost of a single real estate object and suggests ways to solve it. Analyzes the formula for the value of a single real estate object and shows that with inefficient land use, the share of the cost of land exceeds the cost of the object. Notes that in all countries with developed market economies, regulation of the land market is one of the most important factors of economic development.