The article discusses how property valuation and management in Belarus have evolved since the early 1990s. The main focus is on the challenges and opportunities of using different methods to determine property values in a transitioning economy. The researchers found that the sales comparison approach and income approach are commonly used for estimating market value, with limitations in the case of income-producing properties. They also discovered that the capitalization rate has been misused in some valuation reports. Overall, the paper highlights the importance of accurately determining property values for effective management and investment decisions in a transitioning economy like Belarus.