Open AccessTo Rebuild or to Refurbish? An Analysis of the Financial Convenience of Interventions on Urban Consolidated Contexts
Author(s) -
Marco Locurcio,
Francesco Tajani,
Pierluigi Morano,
Felicia Di Liddo,
Debora Anelli
Publication year - 2022
Publication title -
wseas transactions on environment and development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.157
H-Index - 19
eISSN - 2224-3496
pISSN - 1790-5079
DOI - 10.37394/232015.2022.18.24
Subject(s) - real estate , demolition , context (archaeology) , business , finance , investment (military) , real estate development , economic recovery , sustainability , economics , engineering , civil engineering , political science , paleontology , ecology , politics , law , biology , keynesian economics
In the current historical moment of post-crisis recovery, the real estate sector has a dual role: i) through the construction industry and its impacts on related economic sectors, it is called upon to be an active part of the economic recovery; ii) the enhancement of existing property assets is of primary importance in the containment of greenhouse gases and the achievement of the objectives set by the United Nations [1]. In this context, the various players involved in the real estate market have outlined the importance of being supported by assessment methodologies. That allows to point out not only the opportunities of the investment, but also the risks that may invalidate the initial forecasts, nullifying the success of the initiative. To this end, this research develops a multi-criteria Key Performance Indicator aimed at analyzing the feasibility of real estate initiatives that allows to provide a synthetic scoring on the financial sustainability of each investment and to compare different types of initiatives (e.g. new construction, demolition and reconstruction, renovation, etc.).