Housing plays an important role in the development of the economy of each country and averages 10-20% of all economic activity in the country, and is also considered the largest main asset of households. The need for housing is not only one of the basic human needs, but also one of the indicators of the life quality standards. Housing should be convenient, economical and realistic in maintenance, as well as architecturally expressive, so as to be able to harmoniously fit into the environment. At the same time, it must be kept in mind that the specifics of the real estate sector are the large capacity of financial resources, the long payback period of investments and, therefore, an invaluable role in attracting financial resources for the long-term development of real estate. Nowadays more attention is paid to the benefits and costs of housing, that the house is comfortable, convenient and suitable, but also energy efficient, and the costs of buying, building, improving and maintaining a house are proportionate with the benefits of using the house. Only by providing a high-quality informative database to all professional participants in the real estate market system, you can create an effectively oriented organizational and methodological structure and system of the real estate market. The main element of the system’s information support is the methodology of obtaining, collecting and further analysing the data in relation to objects on the real estate market, using the latest technologies. Based on the foregoing, the role of real estate valuation in the process of successful socio-economic development is becoming increasingly relevant. The aim of the research is to analyse the concept of real estate valuation in the housing market of Latvia and Germany and develop proposals for its improvement.