The paper presents selected financial instruments of the real estate market. First, property market is defined and briefly described. Next, the notion of a financial instrument is defined, according to the provisions of the Act on Accounting. These instruments include the following:

1. debt securities;
2. shares in joint stock companies;
3. shares in different types of partnerships and private limited companies;
4. shares in cooperatives;
5. contracts resulting in the creation of financial receivables and payables;
6. derivative instruments.

Additionally, trust participation units and investment certificates have been included as financial instruments.

Further, the paper discusses financial instruments characteristic of the property market, such as:

1. bank and other loans;
2. shares in companies (discussed on the example of partnerships and limited companies);
3. debt instruments including municipal housing bonds, infrastructure bonds, commercial papers and mortgage bonds;
4. property investment certificates;
5. mortgage-based derivative instruments.

The author concludes by defining the development of the property market, which should be understood as its long term growth, including an improvement in its institutions, financial instruments etc. leading to its greater efficiency.