Benedetto Manganelli - Academia.edu (original) (raw)
Papers by Benedetto Manganelli
Real Estate Management and Valuation, May 22, 2024
The assessment of income-producing properties-considered as the bulk of the existing assets-has r... more The assessment of income-producing properties-considered as the bulk of the existing assets-has rapidly increased. An efficient assessment of the market value of this kind of properties requires an adequate involvement of the main risk factors of the local real estate market for the determination of the capitalization rate for the income approach application. The aim of the work is to identify the most significant local real estate risk factors related to the market, the tenant and the context on the residential capitalization rate. The development of a regressive methodological approach applied to the residential sector of the city of Rome (Italy) is proposed. The obtained results show the susceptibility of the analyzed capitalization rate to the variation of the local real estate risk factors, in particular the per capita income and the variation of the rental values, by also considering the influences of the exogenous shocks and the expectation of the investors. The practical implications of the work consist in the possibility for evaluators to assess the likely changes in the capitalization rate in different residential contexts if variations occur in the most influential local risk factors identified by the proposed model. capitalization rate; real estate risk; exogenous shock; incomeproducing properties; real estate assessment; regression model
The vast majority of the existing European building stock has been built without modern provision... more The vast majority of the existing European building stock has been built without modern provisions for earthquake resistance and energy efficiency, result ing in seismic vulnerable and low energy performanc e buildings. Although many studies to address both th ese needs exist, energy and seismic retrofitting ar e nowadays treated separately. In this study, a combined seism ic and energy retrofitting approach is adopted. Ret rofitting strategies for existing RC buildings, combining sei smic and energy features are investigated and compa red. For what concerns seismic retrofitting, two different s eismic retrofitting techniques for RC-moment resist ing frames, namely addition of RC Walls and TRM Jacketing). The economic benefit deriving from their implementatio n has been evaluated using a probabilistic vulnerabil ity building based approach (based on fragility cur ves and mean repair costs). Moreover, a simplified method f or fragility curves in retrofitted state has been p roposed. ...
The vast majority of the existing European building stock has been built without modern provision... more The vast majority of the existing European building stock has been built without modern provisions for earthquake resistance and energy efficiency, result ing in seismic vulnerable and low energy performanc e buildings. Although many studies to address both th ese needs exist, energy and seismic retrofitting ar e nowadays treated separately. In this study, a combined seism ic and energy retrofitting approach is adopted. Ret rofitting strategies for existing RC buildings, combining sei smic and energy features are investigated and compa red. For what concerns seismic retrofitting, two different s eismic retrofitting techniques for RC-moment resist ing frames, namely addition of RC Walls and TRM Jacketing). The economic benefit deriving from their implementatio n has been evaluated using a probabilistic vulnerabil ity building based approach (based on fragility cur ves and mean repair costs). Moreover, a simplified method f or fragility curves in retrofitted state has been p roposed. For what concerns energy retrofitting, an attempt was m ade to evaluate the energy performance and cost improvements of buildings receiving various thermal insulation materials (i.e. EPS, XPS, PUR) to their building envelopes, following a simplified procedure in line with the requirements of the Italian regulation. T o evaluate the economic feasibility of an integrated seismic p lus energy retrofitting approach, this paper propos ed an expected annual loss (EAL) parameter combining both the economic benefits related to reduction of the seismic risk and energy losses. It was found that a number of retrofitting techniques were effective and econo mically feasible, with the combination of advanced textile composites (i.e. TRM) and thermal insulations mater i ls (i.e. EPS) being the most effective scheme, than the comb ination based on more localized seismic interventio ns. Overall, this study demonstrates that the concurren t energy and seismic retrofitting using advanced ma terials is a quite promising alternative approach for upgrading the existing RC buildings in seismic EU regions.
Springer eBooks, Jul 22, 2014
The chapter deals with the characteristics of the investment property. The specific risks associa... more The chapter deals with the characteristics of the investment property. The specific risks associated with the investment property are shown, as well as the advantages and disadvantages compared to other types of investment. The meaning of investment value is explained in general and, with reference to real estate investment, the parameters that affect this value are identified.
Springer eBooks, 2015
ABSTRACT This book describes in full the major approaches used to evaluate investment in real est... more ABSTRACT This book describes in full the major approaches used to evaluate investment in real estate and shows how theory informs decision-aid methods and tools to support such evaluation. The inclusion of numerous examples makes it also a practical guide to assessing the suitability of an investment property. The first part of the text is devoted to an analysis of the housing market through the study of micro- and macroeconomic variables influencing supply and demand, with illustration of how these two components of the market interact. Special attention is given to market research and other preparatory activities able to influence the outcome of the investment. In fact, the quality of the parameters used for the evaluation depends on these activities. The final chapters describe the valuation techniques and highlight their essential features, limitations and potential in relation to ability to manage the investment risk. The book is aimed at graduates who wish to deepen their study of the real estate market and of the methods used to support investment decisions in real estate but also at professionals and managers of companies operating in the real estate market.
In the real estate market, there are examples of bilateral monopoly in special situations related... more In the real estate market, there are examples of bilateral monopoly in special situations related to the position and the configuration of the property. Typical cases are the trading involving: extra ordinary properties that are taken away from the normal interactions between supply and demand; landlocked funds and/or residual surfaces that get a certain value only if connected to neighboring properties. A model that summarizes the framework within which supply and demand move and interacts is defined, in order to identify a possible break-even point of the respective utilities.
Lecture Notes in Computer Science, 2023
Lecture Notes in Computer Science, 2023
Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee eviden... more Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee evidenzia una comune e attuale tendenza alla re-urbanizzazione, centralizzazione e conseguente ritorno al centro storico delle stesse, in netta antitesi con i fenomeni di delocalizzazione dei decenni passati [1]. Ne risulta l'incremento della domanda di alloggi, situati nei centri storici delle città, al fine di conseguire un miglioramento in termini di qualità di vita legato ad una serie di benefici di tipo economico e sociale; ad esempio derivanti dalla riduzione dei tempi di viaggio e delle risorse impiegate per il soddisfacimento delle esigenze di trasporto [2]. Inoltre, tale tendenza rappresenta una forma di rigenerazione urbana in linea con l'attuale accezione di pratica intesa come riuso/rinnovo degli edifici esistenti, e conseguente "riduzione del consumo di suolo". La rivitalizzazione dei patrimoni immobiliari, siti nei centri storici, rappresenta un'opportunità per conseguire gli obiettivi in termini di in-cremento di sostenibilità, che l'Unione Europea, attraverso l'accordo di Parigi, impone al settore dell'edilizia entro il 2050 [3]. Le politiche europee volte alla rivitalizzazione dei centri urbani e alla rigenerazione basata sul turismo [4] si sono tradotte in fondi di finanziamento di progetti di riqualificazione di immobili, siti in essi, noti come progetti di "Ospitalità diffusa". Essi hanno favorito la riqualificazione architettonico-strutturale dei suddetti immobili necessaria alla loro conversione funzionale in strutture ricettive. Tuttavia, gli interventi di retrofit strutturale, energetico e funzionale, pur garantendo gli attuali standard di sicurezza, comfort e benessere, devono rispondere ad istanze di conservazione delle caratteristiche estetiche e morfologiche. Queste ultime, che determinano la tipica e specifica tessitura dei nuclei urbani, insieme a elementi non tangibili, quali eventi storici, costumi, credenze, articolano l'uso dello spazio e dell'ambiente costruito, determinando l'autenticità e il senso dei luoghi [5]. L'Italia è caratterizzata
Springer eBooks, 2022
The concept of exploiting proven monotonicity for dimension reduction and elimination of partitio... more The concept of exploiting proven monotonicity for dimension reduction and elimination of partition sets is well known in the field of Interval Arithmetic Branch and Bound (B &B). Part of the concepts can be applied in simplicial B &B over a box. The focus of our research is here on minimizing a function over a lower simplicial dimension feasible set, like in blending and portfolio optimization problems. How can monotonicity be detected and be exploited in a B &B context? We found that feasible directions can be used to derive bounds on the directional derivative. Specifically, Linear Programming can be used to detect the sharpest bounds.
International Journal of Business Intelligence and Data Mining, 2014
Urban real estate property values are mainly conditioned by several aspects, which can be summari... more Urban real estate property values are mainly conditioned by several aspects, which can be summarised in two main classes: intrinsic and extrinsic ones. Intrinsic characters are specific goods while extrinsic features are related to a diversity of goods. Therefore, there is an extremely close correlation between 'rigidity location' of property (fixed location) and its value. Possibilities offered by recent developments of statistical techniques, principally geographically weighted regression (GWR), in analysing housing market have given a new impetus in mass appraisal of urban property. More particularly, geographically weighted regression has been adopted in analysing housing market, in order to identify homogeneous areas and to define the marginal contribution that a single location (outlined by these areas) gives to the market value of the property. The model has been built on a sample of 280 data, related to the trades of residential real estate units occurred between 2008 and 2010 in the city of Potenza (Basilicata, southern Italy). The results of territory zoning into homogeneous market areas, in addition to the undoubted usefulness in the field of real estate valuations, has useful implications in terms of taxation, programming territorial transformations and checking ongoing or ex post planning decisions.
![Research paper thumbnail of Interpretation and measurement of the spread between asking and selling prices in the Italian residential market [Interpretazione e misura dello spread tra prezzi richiesti e prezzi di vendita nel mercato residenziale italiano]](https://attachments.academia-assets.com/109083119/thumbnails/1.jpg)
](Valori e valutazioni, Feb 1, 2023
Contributo degli autori Gli autori hanno lavorato insieme alla pubblicazione e hanno contribuito ... more Contributo degli autori Gli autori hanno lavorato insieme alla pubblicazione e hanno contribuito in egual misura.
Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee eviden... more Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee evidenzia una comune e attuale tendenza alla re-urbanizzazione, centralizzazione e conseguente ritorno al centro storico delle stesse, in netta antitesi con i fenomeni di delocalizzazione dei decenni passati [1]. Ne risulta l'incremento della domanda di alloggi, situati nei centri storici delle città, al fine di conseguire un miglioramento in termini di qualità di vita legato ad una serie di benefici di tipo economico e sociale; ad esempio derivanti dalla riduzione dei tempi di viaggio e delle risorse impiegate per il soddisfacimento delle esigenze di trasporto [2]. Inoltre, tale tendenza rappresenta una forma di rigenerazione urbana in linea con l'attuale accezione di pratica intesa come riuso/rinnovo degli edifici esistenti, e conseguente "riduzione del consumo di suolo". La rivitalizzazione dei patrimoni immobiliari, siti nei centri storici, rappresenta un'opportunità per conseguire gli obiettivi in termini di in-cremento di sostenibilità, che l'Unione Europea, attraverso l'accordo di Parigi, impone al settore dell'edilizia entro il 2050 [3]. Le politiche europee volte alla rivitalizzazione dei centri urbani e alla rigenerazione basata sul turismo [4] si sono tradotte in fondi di finanziamento di progetti di riqualificazione di immobili, siti in essi, noti come progetti di "Ospitalità diffusa". Essi hanno favorito la riqualificazione architettonico-strutturale dei suddetti immobili necessaria alla loro conversione funzionale in strutture ricettive. Tuttavia, gli interventi di retrofit strutturale, energetico e funzionale, pur garantendo gli attuali standard di sicurezza, comfort e benessere, devono rispondere ad istanze di conservazione delle caratteristiche estetiche e morfologiche. Queste ultime, che determinano la tipica e specifica tessitura dei nuclei urbani, insieme a elementi non tangibili, quali eventi storici, costumi, credenze, articolano l'uso dello spazio e dell'ambiente costruito, determinando l'autenticità e il senso dei luoghi [5]. L'Italia è caratterizzata
Lecture Notes in Computer Science, 2023
Sustainability, Sep 6, 2019
The present research takes into account the current and widespread need for rational valuation me... more 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.
Aestimum, 2005
ABSTRACT In this paper is developed a procedure to select the appropriate capitalization rate acr... more ABSTRACT In this paper is developed a procedure to select the appropriate capitalization rate across the financial analysis of an investment based on the real estate of which we are willing to evaluate the market value. The proposed model rationalizes the corrections as well as the adaptations needed by the alternative reference rate, reducing number of input variables in the well known Ellwood model. Its application is simplified by implementation of the algorithm in a software able to reproduce the appraisal of urban properties through out the income approach
Heritage
The historic designation of individual properties and entire neighborhoods has experienced an evo... more The historic designation of individual properties and entire neighborhoods has experienced an evolution in its meaning in recent decades. The original passive approach to managing historical buildings, which primarily regarded them as “values” to be defended and preserved for future generations, has been supplemented by strategies aimed at their valorization, derived from an awareness of the potential of such resources for the community, as a means of promoting the economic and social conditions of local populations. This paper proposes a review of all the main research carried out in the literature over the last thirty years concerning the impact of the historical–architectural significance of property values, both from an intrinsic point of view by evaluating the weight that the examined variable assumes in relation to the market value of the individual property and an extrinsic point of view by addressing the issue of the evaluation of “spatial spillovers”, positive and/or negati...
Real Estate Management and Valuation, May 22, 2024
The assessment of income-producing properties-considered as the bulk of the existing assets-has r... more The assessment of income-producing properties-considered as the bulk of the existing assets-has rapidly increased. An efficient assessment of the market value of this kind of properties requires an adequate involvement of the main risk factors of the local real estate market for the determination of the capitalization rate for the income approach application. The aim of the work is to identify the most significant local real estate risk factors related to the market, the tenant and the context on the residential capitalization rate. The development of a regressive methodological approach applied to the residential sector of the city of Rome (Italy) is proposed. The obtained results show the susceptibility of the analyzed capitalization rate to the variation of the local real estate risk factors, in particular the per capita income and the variation of the rental values, by also considering the influences of the exogenous shocks and the expectation of the investors. The practical implications of the work consist in the possibility for evaluators to assess the likely changes in the capitalization rate in different residential contexts if variations occur in the most influential local risk factors identified by the proposed model. capitalization rate; real estate risk; exogenous shock; incomeproducing properties; real estate assessment; regression model
The vast majority of the existing European building stock has been built without modern provision... more The vast majority of the existing European building stock has been built without modern provisions for earthquake resistance and energy efficiency, result ing in seismic vulnerable and low energy performanc e buildings. Although many studies to address both th ese needs exist, energy and seismic retrofitting ar e nowadays treated separately. In this study, a combined seism ic and energy retrofitting approach is adopted. Ret rofitting strategies for existing RC buildings, combining sei smic and energy features are investigated and compa red. For what concerns seismic retrofitting, two different s eismic retrofitting techniques for RC-moment resist ing frames, namely addition of RC Walls and TRM Jacketing). The economic benefit deriving from their implementatio n has been evaluated using a probabilistic vulnerabil ity building based approach (based on fragility cur ves and mean repair costs). Moreover, a simplified method f or fragility curves in retrofitted state has been p roposed. ...
The vast majority of the existing European building stock has been built without modern provision... more The vast majority of the existing European building stock has been built without modern provisions for earthquake resistance and energy efficiency, result ing in seismic vulnerable and low energy performanc e buildings. Although many studies to address both th ese needs exist, energy and seismic retrofitting ar e nowadays treated separately. In this study, a combined seism ic and energy retrofitting approach is adopted. Ret rofitting strategies for existing RC buildings, combining sei smic and energy features are investigated and compa red. For what concerns seismic retrofitting, two different s eismic retrofitting techniques for RC-moment resist ing frames, namely addition of RC Walls and TRM Jacketing). The economic benefit deriving from their implementatio n has been evaluated using a probabilistic vulnerabil ity building based approach (based on fragility cur ves and mean repair costs). Moreover, a simplified method f or fragility curves in retrofitted state has been p roposed. For what concerns energy retrofitting, an attempt was m ade to evaluate the energy performance and cost improvements of buildings receiving various thermal insulation materials (i.e. EPS, XPS, PUR) to their building envelopes, following a simplified procedure in line with the requirements of the Italian regulation. T o evaluate the economic feasibility of an integrated seismic p lus energy retrofitting approach, this paper propos ed an expected annual loss (EAL) parameter combining both the economic benefits related to reduction of the seismic risk and energy losses. It was found that a number of retrofitting techniques were effective and econo mically feasible, with the combination of advanced textile composites (i.e. TRM) and thermal insulations mater i ls (i.e. EPS) being the most effective scheme, than the comb ination based on more localized seismic interventio ns. Overall, this study demonstrates that the concurren t energy and seismic retrofitting using advanced ma terials is a quite promising alternative approach for upgrading the existing RC buildings in seismic EU regions.
Springer eBooks, Jul 22, 2014
The chapter deals with the characteristics of the investment property. The specific risks associa... more The chapter deals with the characteristics of the investment property. The specific risks associated with the investment property are shown, as well as the advantages and disadvantages compared to other types of investment. The meaning of investment value is explained in general and, with reference to real estate investment, the parameters that affect this value are identified.
Springer eBooks, 2015
ABSTRACT This book describes in full the major approaches used to evaluate investment in real est... more ABSTRACT This book describes in full the major approaches used to evaluate investment in real estate and shows how theory informs decision-aid methods and tools to support such evaluation. The inclusion of numerous examples makes it also a practical guide to assessing the suitability of an investment property. The first part of the text is devoted to an analysis of the housing market through the study of micro- and macroeconomic variables influencing supply and demand, with illustration of how these two components of the market interact. Special attention is given to market research and other preparatory activities able to influence the outcome of the investment. In fact, the quality of the parameters used for the evaluation depends on these activities. The final chapters describe the valuation techniques and highlight their essential features, limitations and potential in relation to ability to manage the investment risk. The book is aimed at graduates who wish to deepen their study of the real estate market and of the methods used to support investment decisions in real estate but also at professionals and managers of companies operating in the real estate market.
In the real estate market, there are examples of bilateral monopoly in special situations related... more In the real estate market, there are examples of bilateral monopoly in special situations related to the position and the configuration of the property. Typical cases are the trading involving: extra ordinary properties that are taken away from the normal interactions between supply and demand; landlocked funds and/or residual surfaces that get a certain value only if connected to neighboring properties. A model that summarizes the framework within which supply and demand move and interacts is defined, in order to identify a possible break-even point of the respective utilities.
Lecture Notes in Computer Science, 2023
Lecture Notes in Computer Science, 2023
Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee eviden... more Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee evidenzia una comune e attuale tendenza alla re-urbanizzazione, centralizzazione e conseguente ritorno al centro storico delle stesse, in netta antitesi con i fenomeni di delocalizzazione dei decenni passati [1]. Ne risulta l'incremento della domanda di alloggi, situati nei centri storici delle città, al fine di conseguire un miglioramento in termini di qualità di vita legato ad una serie di benefici di tipo economico e sociale; ad esempio derivanti dalla riduzione dei tempi di viaggio e delle risorse impiegate per il soddisfacimento delle esigenze di trasporto [2]. Inoltre, tale tendenza rappresenta una forma di rigenerazione urbana in linea con l'attuale accezione di pratica intesa come riuso/rinnovo degli edifici esistenti, e conseguente "riduzione del consumo di suolo". La rivitalizzazione dei patrimoni immobiliari, siti nei centri storici, rappresenta un'opportunità per conseguire gli obiettivi in termini di in-cremento di sostenibilità, che l'Unione Europea, attraverso l'accordo di Parigi, impone al settore dell'edilizia entro il 2050 [3]. Le politiche europee volte alla rivitalizzazione dei centri urbani e alla rigenerazione basata sul turismo [4] si sono tradotte in fondi di finanziamento di progetti di riqualificazione di immobili, siti in essi, noti come progetti di "Ospitalità diffusa". Essi hanno favorito la riqualificazione architettonico-strutturale dei suddetti immobili necessaria alla loro conversione funzionale in strutture ricettive. Tuttavia, gli interventi di retrofit strutturale, energetico e funzionale, pur garantendo gli attuali standard di sicurezza, comfort e benessere, devono rispondere ad istanze di conservazione delle caratteristiche estetiche e morfologiche. Queste ultime, che determinano la tipica e specifica tessitura dei nuclei urbani, insieme a elementi non tangibili, quali eventi storici, costumi, credenze, articolano l'uso dello spazio e dell'ambiente costruito, determinando l'autenticità e il senso dei luoghi [5]. L'Italia è caratterizzata
Springer eBooks, 2022
The concept of exploiting proven monotonicity for dimension reduction and elimination of partitio... more The concept of exploiting proven monotonicity for dimension reduction and elimination of partition sets is well known in the field of Interval Arithmetic Branch and Bound (B &B). Part of the concepts can be applied in simplicial B &B over a box. The focus of our research is here on minimizing a function over a lower simplicial dimension feasible set, like in blending and portfolio optimization problems. How can monotonicity be detected and be exploited in a B &B context? We found that feasible directions can be used to derive bounds on the directional derivative. Specifically, Linear Programming can be used to detect the sharpest bounds.
International Journal of Business Intelligence and Data Mining, 2014
Urban real estate property values are mainly conditioned by several aspects, which can be summari... more Urban real estate property values are mainly conditioned by several aspects, which can be summarised in two main classes: intrinsic and extrinsic ones. Intrinsic characters are specific goods while extrinsic features are related to a diversity of goods. Therefore, there is an extremely close correlation between 'rigidity location' of property (fixed location) and its value. Possibilities offered by recent developments of statistical techniques, principally geographically weighted regression (GWR), in analysing housing market have given a new impetus in mass appraisal of urban property. More particularly, geographically weighted regression has been adopted in analysing housing market, in order to identify homogeneous areas and to define the marginal contribution that a single location (outlined by these areas) gives to the market value of the property. The model has been built on a sample of 280 data, related to the trades of residential real estate units occurred between 2008 and 2010 in the city of Potenza (Basilicata, southern Italy). The results of territory zoning into homogeneous market areas, in addition to the undoubted usefulness in the field of real estate valuations, has useful implications in terms of taxation, programming territorial transformations and checking ongoing or ex post planning decisions.
Valori e valutazioni, Feb 1, 2023
Contributo degli autori Gli autori hanno lavorato insieme alla pubblicazione e hanno contribuito ... more Contributo degli autori Gli autori hanno lavorato insieme alla pubblicazione e hanno contribuito in egual misura.
Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee eviden... more Heritage and Identity 1. Introduzione L'analisi del processo evolutivo delle città europee evidenzia una comune e attuale tendenza alla re-urbanizzazione, centralizzazione e conseguente ritorno al centro storico delle stesse, in netta antitesi con i fenomeni di delocalizzazione dei decenni passati [1]. Ne risulta l'incremento della domanda di alloggi, situati nei centri storici delle città, al fine di conseguire un miglioramento in termini di qualità di vita legato ad una serie di benefici di tipo economico e sociale; ad esempio derivanti dalla riduzione dei tempi di viaggio e delle risorse impiegate per il soddisfacimento delle esigenze di trasporto [2]. Inoltre, tale tendenza rappresenta una forma di rigenerazione urbana in linea con l'attuale accezione di pratica intesa come riuso/rinnovo degli edifici esistenti, e conseguente "riduzione del consumo di suolo". La rivitalizzazione dei patrimoni immobiliari, siti nei centri storici, rappresenta un'opportunità per conseguire gli obiettivi in termini di in-cremento di sostenibilità, che l'Unione Europea, attraverso l'accordo di Parigi, impone al settore dell'edilizia entro il 2050 [3]. Le politiche europee volte alla rivitalizzazione dei centri urbani e alla rigenerazione basata sul turismo [4] si sono tradotte in fondi di finanziamento di progetti di riqualificazione di immobili, siti in essi, noti come progetti di "Ospitalità diffusa". Essi hanno favorito la riqualificazione architettonico-strutturale dei suddetti immobili necessaria alla loro conversione funzionale in strutture ricettive. Tuttavia, gli interventi di retrofit strutturale, energetico e funzionale, pur garantendo gli attuali standard di sicurezza, comfort e benessere, devono rispondere ad istanze di conservazione delle caratteristiche estetiche e morfologiche. Queste ultime, che determinano la tipica e specifica tessitura dei nuclei urbani, insieme a elementi non tangibili, quali eventi storici, costumi, credenze, articolano l'uso dello spazio e dell'ambiente costruito, determinando l'autenticità e il senso dei luoghi [5]. L'Italia è caratterizzata
Lecture Notes in Computer Science, 2023
Sustainability, Sep 6, 2019
The present research takes into account the current and widespread need for rational valuation me... more 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.
Aestimum, 2005
ABSTRACT In this paper is developed a procedure to select the appropriate capitalization rate acr... more ABSTRACT In this paper is developed a procedure to select the appropriate capitalization rate across the financial analysis of an investment based on the real estate of which we are willing to evaluate the market value. The proposed model rationalizes the corrections as well as the adaptations needed by the alternative reference rate, reducing number of input variables in the well known Ellwood model. Its application is simplified by implementation of the algorithm in a software able to reproduce the appraisal of urban properties through out the income approach
Heritage
The historic designation of individual properties and entire neighborhoods has experienced an evo... more The historic designation of individual properties and entire neighborhoods has experienced an evolution in its meaning in recent decades. The original passive approach to managing historical buildings, which primarily regarded them as “values” to be defended and preserved for future generations, has been supplemented by strategies aimed at their valorization, derived from an awareness of the potential of such resources for the community, as a means of promoting the economic and social conditions of local populations. This paper proposes a review of all the main research carried out in the literature over the last thirty years concerning the impact of the historical–architectural significance of property values, both from an intrinsic point of view by evaluating the weight that the examined variable assumes in relation to the market value of the individual property and an extrinsic point of view by addressing the issue of the evaluation of “spatial spillovers”, positive and/or negati...