Application of a Multi-criteria and Participated Evaluation Procedure to Select Typology of Intervention to Redevelop Degraded Urban Area

Through urban redevelopment of a degraded area, the deficiency in urban planning and/or building developments can be remedied, allowing for the flourishing of activities that can provide economic stimulus while improving the living conditions of citizens; in this way the local economy can be relaunched. Evaluation methodologies and procedures can contribute to steering the choices made by Public Administration (PA) in creating programmes and hypothesis of intervention that may be considered sustainable and shared by stakeholders. The text proposes the application of an evaluation procedure (Capanne area in Terracina, Latina, Lazio Region), based on the integrated use of a Multi-Criteria Analysis technique - the Analytic Hierarchy Process, as well as a technique promoting participation and interaction among stakeholders, the Stakeholders Analysis. The evaluation procedure can be used to support the PA to make the decision related to the best type of hypothesis of intervention among those possible: the decision must be taken on the basis of identified Stakeholders' needs and available resources, in order to further exploit the unexpressed potential of the intervention area. The structural elements of the evaluation procedure are aligned to article 1 of the "Prime Ministerial Decree" regarding ‘Projects for the social and cultural regeneration of decaying urban areas’ (15 October 2015) in order to identify the type of intervention allowable for financing provided in the Decree

“GREEN BUILDINGS” E PREMIO DI MERCATO IMMOBILIARE NELLA CITTÀ DI REGGIO CALABRIA (ITALIA)

The construction of new buildings or interventions to improve energy performance can be considered "sustainable" if they meet the requirements which intersect with each other in the economic, social and environmental spheres. The paper has as its main topic detecting and quantifying the market premium attributable to housing properties with high energy performance characteristics. Through a semi-parametric additive model, extended to a wide real estate sample relating to the city of Reggio Calabria, it is demonstrated how the choice of sustainable interventions, oriented to "Green Building" practices, produce significant economic impacts in terms of increased market value of buildings as well as mitigating energy consumption while respecting the historical-architectural peculiarities of urban buildings

LA VALUTAZIONE DELLA FATTIBILITA’ FINANZIARIA DEGLI INTERVENTI DI TRASFORMAZIONE URBANA: IL CASO DELLA CITTA’ DI PONTEDERA (ITALIA)

The sustainable development of cities is ruled by an effective and efficient management of urban renewal interventions at the local scale. With reference to three degraded urban areas in the city of Pontedera (Italy), the aim of the paper is to highlight the usefulness of the Cost-Volume Profit Analysis (CVPA) as a reference for supporting the decisions that public and private operators have to face in order to identify the most suitable initiative for each area. Two different scenarios which respectively refer to the provisions of the General Regulatory Plan (GRP) of the city and the projectual proposal are analyzed for each plot area. The achieved results prove the rigidity of the GRP forecasts can generate unfeasible interventions which, therefore, are not attractive for private entrepreneurs. The proposed methodology is a logical-operational reference that can be easily applied both by public and private subjects in order to i) quickly assess the stability of the financial structure, and ii) to provide the basis for a negotiation for improving the requested works

Contextualized property market models vs. Generalized mass appraisals: An innovative approach

The present research takes into account the current and widespread need for rational valuation methodologies, able to correctly interpret the available market data. An innovative automated valuation model has been simultaneously implemented to three Italian study samples, each one constituted by two-hundred residential units sold in the years 2016-2017. The ability to generate a "unique" functional form for the three different territorial contexts considered, in which the relationships between the influencing factors and the selling prices are specified by different multiplicative coefficients that appropriately represent the market phenomena of each case study analyzed, is the main contribution of the proposed methodology. The method can provide support for private operators in the assessment of the territorial investment conveniences and for the public entities in the decisional phases regarding future tax and urban planning policies

Estimative analysis of a segment of the bare ownership market of residential property

Estimative analysis of the property market aims to identify the parameters, economic variables and mechanisms at the basis of negotiations that take place in the market. The aims are explanatory and predictive. In this work, a multiple regression analysis is carried out to evaluate a segment of the bare ownership market of residential properties in a district of an Italian city. In particular, using regression, the explanatory variables in the price of the bare ownership are selected among those initially identified with the empirical observation of this phenomenon, the hedonic prices and weights of the explanatory variables are estimated, the estimation function of the bare ownership price is specified as well as the average depreciation rate determined by the usufruct. The discrepancy between the depreciation rates estimated with the regression and those set out by the law for tax purposes, but applied when estimating the bare ownership value, leads to distrusting the practical use of the latter in matters other than tax purpose

Estimative analysis of a segment of the bare ownership market of residential property

Estimative analysis of the property market aims to identify the parameters, economic variables and mechanisms at the basis of negotiations that take place in the market. The aims are explanatory and predictive. In this work, a multiple regression analysis is carried out to evaluate a segment of the bare ownership market of residential properties in a district of an Italian city. In particular, using regression, the explanatory variables in the price of the bare ownership are selected among those initially identified with the empirical observation of this phenomenon, the hedonic prices and weights of the explanatory variables are estimated, the estimation function of the bare ownership price is specified as well as the average depreciation rate determined by the usufruct. The discrepancy between the depreciation rates estimated with the regression and those set out by the law for tax purposes, but applied when estimating the bare ownership value, leads to distrusting the practical use of the latter in matters other than tax purposes