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From sources of financial value to commons: Emerging policies for enhancing public real‐estate assets in Italy
Author(s) -
Mangialardo Alessia,
Micelli Ezio
Publication year - 2018
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/pirs.12310
Subject(s) - real estate , business , finance , capitalization rate , value (mathematics) , real estate investment trust , corporate real estate , real estate development , outcome (game theory) , economics , microeconomics , machine learning , computer science
Enhancing public real‐estate assets has been at the centre of a lively debate in Italy. Public policies have focused on the supply‐side, assuming that private demand was ready to develop assets. Yet with the decline in the real‐estate market, conditions have greatly changed. Italian authorities begun to experiment new approaches to enhance public assets by supporting the grass‐roots participation. The aim of this research is to determine the conditions that can predict the successful outcome of bottom‐up value creation dynamics in public real‐estate properties. Through a multivariate statistical analysis, the study proposes an interpretation of the elements that determine the successful outcome of bottom‐up processes.