ISSUE OF RISK IN LITERATURE

Any attempt to explicitly define the property market involves an interdisciplinary approach. Commonly applied notions referring to the genesis of risk in the area of medicine, humanities and, in particular, social and other sciences, have a significant impact on the strictly technical definition. The juxtaposition of the established definitions concerning the phenomenon of risk is an attempt to refer their types and risk factors to the extensive subject area of risk concerning the property market itself. In the future, this may contribute to the development of new risk analysis methods or methods of determining its probability and, therefore, levelling the effect of uncertainty in developing real estate management processes. The aim of the paper is to carry out a review of literature for a deeper analysis of this issue.