Public sector real estate asset management models and their evaluation
||Public sector real estate asset management models and their evaluation
||PhD-Thesis at University of Tartu, Estonia
||The sizes of countries (in terms of territory, population, income) are different, their traditions and habits vary, and therefore also the ways, how they handle their public sector real estate management is not the same. Still, there are a lot of common features, which are universal to bear in mind while making decisions over the use of taxpayers’ money. Firstly, one common feature in every country is that the government administrates in terms and in the presence of budgetary constraint. Secondly, in every democratic country the public sector has been evoked to serve the interest of the citizens of that country. Government authorities need to make state-concerning financial decisions prudently, weighing carefully the consequences in executing different scenarios of action. Smaller countries like Estonia have fewer opportunities and scantier resources (both human and financial) to deal with the complex problems concerning large amounts of capital assets, and therefore decisions over public sector real estate issues need to be made even more diligently.
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