The authors in this research outline peculiarities of changing real estate tax from which it can be concluded that introduction of this taxation will significantly influence the development of real estate market and secondary - the economy of the country as a whole. Thus the further studies are closely related to the in-depth analysis and evaluation of socio economic system that will serve as the basis of the development of sustainable social economical model of real estate of Latvia. For the complete development of such model that simultaneously will take into consideration both the influence of fiscal policy to the development of real estate and the specific financial economical circumstances of Latvia in the research particular attention will be paid to the study of the most successful models of sustainable social economical development of other EU Member States and to the assessment of these models.