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ISSN: 1592-6117    frecuency : 4   format : Electrónica

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Number XLIMeetingsProceedings

59 articles in this issue 

Maurizio Festa,Erika Ghiraldo,Alessandra Storniolo

Using Italian data, on the basis of economic theoretical approach of the honeycomb cycle by Janssen, Kruijt and Needham in 1994, this article proposes a further development in the study of the dynamics of real estate housing market in Italy. Using the mar... see more

Pags. 105 - 125  

Paolo Rosasco,Leopoldo Sdino

The purpose of this project is that of inquiring around the relations existing among the main variables characterizing the Genovese residential real estate market which determine their performance in time through the data analysis of the two observers of ... see more

Pags. 127 - 148  

Malgorzata Renigier-Bilozor,Radoslaw Wisniewski

This paper aims to determine the influence of selected variables on residential property price indices for European countries, with particular attention paid to Italy and Poland, using a rough set theory and an approach that uses a committee of artificial... see more

Pags. 149 - 166  

Daniela Barbu

The authors develop a concept paper on the economic valuation of land. They detail the basic principles corroborated with the direct factors that modify the mathematical parameters and also the impact of construction on the land. Starting from the princip... see more

Pags. 169 - 181  

Anna Wojewnik-Filipkowska,Malgorzata Rymarzak,Dariusz Trojanowski

Spatial planning is connected with speculations in real estate market, which deepens the process of urban sprawl. Adequate land management supporting  free market – both investment decision of businesses and location decisions of households – is nece... see more

Pags. 183 - 199  

Sergio Mattia,Alessandra Oppio,Alessandra Pandolfi

This essay describes the most relevant steps of the urban system analysis procedure and of the isovalue maps compilation for the main urban functions, to prove the urgency of using these methods to reply to the increasing need for equity and liberalism th... see more

Pags. 201 - 219  

Francesco Calabrò,Lucia Della Spina

The proposed article aims to illustrate an experimental model applicable, in the planning stage, to an appraisal of the capital gains in a residential requalification in public/ private partnership. The model develops a method using a conventional cost va... see more

Pags. 221 - 230  

Éva Szabó,Zoltán Tóth

Property prices are extremely low in extensive degraded urban areas. Enhancing property values in these areas is a foremost concern for both property owners and for the town as a whole. The aim is to transform isolated, disadvantaged urban areas; to incre... see more

Pags. 231 - 235  

Gianluigi De Mare,Antonio Nesticò,Francesco Tajani

Following the crisis generated by the financialization of private real-estate, construction prices have gradually decreased depriving the housing market of the necessary growth stimuli. Many countries have set up measures to revive this highly strategic a... see more

Pags. 237 - 261  

Manuela Ricci

This research aims to design the paths through is possible to improve historical buildings located in centers  which  show signs of abandonment  by original inhabitants and where a large part of the inhabitants are immigrants . The Italian ... see more

Pags. 263 - 266  

Koloman Ivanicka

The paper aims to show how the historical development of CEE countries and their institutional framework has influenced the quality of information on housing markets. Central and Eastern European countries (CEE) have undergone the serious economic and ins... see more

Pags. 269 - 280  

Michele Argiolas,Giampietro Cabiddu,Stefano Corsi

The main purpose of this paper is to analyze and compare the current local tax on real estate and the future and assessing criticality. The tax base is calculated by applying calculation methods that differ depending on the type of property you must ... see more

Pags. 281 - 292  

Angelo Donato Berloco,Antonio Spremulli

In the real estate appraisal, the principal problem consists in the availability of the prices and the rents bargained, on which to found the forecasts of the prices and the future rents and the appraisal of market value. For the valuation standards, the ... see more

Pags. 293 - 301  

Concetta Cardillo,Giuliano Gabrieli,Massimo Gioia,Franco Mari

The research aim to test the information collected through the Italian FADN survey to analyze the characteristics of Italian land market and was referred to accounting year 2009. The value of land is estimated according to the criterion of the most probab... see more

Pags. 303 - 315  

Angela Poletti

The contribution highlights the need for the connection between urban transformation assessment and real estate assessment, noting that there is a mutual influence (now rarely seen) between the parameters involved. For this purpose GIS serves as a tool by... see more

Pags. 317 - 332  

Michele Argiolas

Many economists have identified the main cause of recent global real estate market crisis both in the poor diffusion of systems capable of monitoring the historical property values that in the lack of public awareness about the risks of real estate invest... see more

Pags. 333 - 345  

Sergio Mattia,Alessandra Oppio

The aim of this paper is to open again the discussion on the social function of Appraisal, as nowadays are quite noticeable the negative effects on the communities’ wellbeing caused by a strong restriction of its task, up to deny the dignity of autonomous... see more

Pags. 349 - 357  

Gaetano Martino

The paper aims at investigating some aspects of the evalutation process under the perspective of the problem solving approach. Firstly, the basic sketch of the evaluation process is summarized and it is pointed out its relationship with the institutional ... see more

Pags. 359 - 369  

Marcello Orefice

The author pauses to found the changes and the essentially methodological choice that, for the evaluation rules - and, in particular, for the training of engineers and architects - has become possible in last decades of the 20th century. Thanks to th... see more

Pags. 371 - 381  

Saverio Miccoli,Fabrizio Finucci,Rocco Murro

This work was inspired by some of the ideas introduced during the CESET Meeting “Appraisal – University Education and Professional Practice”, that took place in Rome on November 19, 2010. This meeting aimed at drawing a balance of the status of appraisal ... see more

Pags. 383 - 396  

Aart C. Hordijk

The worldwide trend towards globalization of Businesses has pushed the need for International Standards in every sector of business. For the Appraisal and Valuation profession it has lead to the introduction of International Valuation Standards IVS. The p... see more

Pags. 397 - 401  

Ion Anghel

In the actual context (with issues like as viability of the global markets, cross-border transactions, transparency in financial reporting etc.) it is a common interest for professional valuers, investors, universities, researchers etc. to consider a conv... see more

Pags. 403 - 410  

Mauro Iacobini,Gaetano Lisi

This empirical paper tests the role of bargaining in the formation process of housing prices in Italy. Housing markets are “thin”, local and decentralized, and thus buyers and sellers may have some market power. Hence, the selling price is influenced both... see more

Pags. 41 - 54  

Alfredo Passeri

The instrument employed to express any value appraisal is our intellect that, by its very nature, given the invariability of objective data, cannot but express a single judgement, and never multiple judgements amongst which some are more or less probably ... see more

Pags. 411 - 423  

Carsten Lausberg

Real estate appraisal is usually regarded as both a science and an art: “science” because the appraiser uses mathematical calculations and other objective elements, “art” because he also uses his experience and other subjective elements. This dual charact... see more

Pags. 427 - 442  

Saverio Miccoli

Landscape is a crucial component of the world heritage. Landscape projects play a vital role in the development of sustainable scenarios. The assessment of a project plays a dual role: it is a procedure to pass judgements on both “values” and “choice... see more

Pags. 443 - 458  

Sergio Mattia,Alessandra Oppio,Alessandra Pandolfi

This essay describes the most relevant steps of a method for the environmental damage assessment that was edited in 1989 and that could be easily adapted to the actual context, using a scenario approach built thanks to Gis tools and procedures. Once the s... see more

Pags. 459 - 477  

Marina Bravi,Stefano Rossi

The primary aim of this work is to connect the Real Options Theory (ROT) with the real estate investment framework. A great deal of theoretical work exist today; it begun with Merton (1973) and Black & Sholes (1973) and provided new insights into capital ... see more

Pags. 479 - 498  

Sergio Mattia,Alessandra Oppio,Alessandra Pandolfi

The enhancement process of urban systems is currently developed by interventions with increasing complexity, as they should achieve the economical and social requirements of sustainability, beside the environmental ones. This is a central issue that is gr... see more

Pags. 499 - 510  

David C. Ling

We examine the impact of heterogeneous investors with asymmetric bargaining positions on transaction prices in private commercial real estate markets. Using a dataset that contains nearly 100,000 commercial real estate transactions during 1997-2009, we ex... see more

Pags. 5 - 40  

François Des Rosiers

The 2007-2008 subprime mortgage crisis has profoundly modified the way investment and management risks are perceived by economic agents. In particular, both private and institutional players in the property sector are now being compelled to follow more st... see more

Pags. 511 - 533  

Richard A. Borst

An Automated Valuation Model (AVM) that seeks to attain predictive accuracy must take into account both spatial and temporal effects in the real estate market.  A model structure that contains neither explicit spatial nor temporal variables is calibr... see more

Pags. 535 - 545  

Luigi Caraglio

In the context represented by the market approach, the scientific research has developed a lot of valuation models. Any typology of these models is affected by a considerable number of important problems. These models are usually considered independently ... see more

Pags. 547 - 567  

Gianfranco Brusa,Alessandra Armiraglio

This research propose a deep analysis of Milanese real estate market, based on data supplied by three real estate organizations; gentrification appears in some neighborhoods, such as Tortona, Porta Genova, Bovisa, Isola Garibaldi: the latest is the subjec... see more

Pags. 55 - 78  

Marina Ciuna

In appraising the “valore di trasformazione” the valuation error is composed by the error on market value and the error on construction cost.  In appraising the “valore complementare” the valuation error is composed by the error on market value of co... see more

Pags. 569 - 583  

Francesca Salvo,Manuela De Ruggiero

In order to make easy, univocal and accurate Market Comparison Approach application, the present work’s aim is to simplify the use of price commercial theorems using numerical coefficients able to correct every single duplication, leading to reliable appr... see more

Pags. 585 - 594  

Luigi Orefice

Operative interventions are frequently required in the field of estimation in the case of real estate that have exhausted their original function but that can be redesigned or adapted to accommodate new functions and new uses. For example, there are ... see more

Pags. 595 - 599  

Marcellina Bertolinelli,Marco Fabbri,Luca Masotto,Alberto Pirani

The alterations caused by the realization of large scale, linear infra-structure have repercussions that similarly disrupt the land market. The market is still not perfect and has all the inherent problems connected to estimation of the compensation due f... see more

Pags. 601 - 616  

Stefano Carrer

Section 39 of the current consolidated expropriation act states: “while expecting a systematic re-regulation of the matter, in the case of reiteration of a preordered constraint or a practical expropriation constraint, the estate owner is entitled to an i... see more

Pags. 617 - 619  

Antonio Benvenuti

The article proposes a calculation criteria for the determination of the mortgage lending value which originates from the application of the financial method (direct capitalisation), by adopting a capitalisation rate calculated by means of the Debt Covera... see more

Pags. 621 - 628  

Mario Breglia

The increasing interest on the part of institutional investors in the yield potential of real estate assets highlights the importance of effective criteria for evaluation. Each segment of real estate needs its own appraisal procedure, which is determ... see more

Pags. 629 - 632  

Tom Kauko

The issue of interest is as to whether it is possible to use the added value generated by the positive effect of having housing developments close to water to abate the negative effects that may arise in some of the same locations. This paper is based on ... see more

Pags. 635 - 651  

Domenico Enrico Massimo

In international and metropolitan real estate markets, it has been detected, for the first time, the growing relevance of green buildings with respect to non-green building. Also, it has been singled out and then quantified through regression analysis a g... see more

Pags. 653 - 673  

Salvatore Giuffrida

The real estate market is a highly communicative human and social place in which individual creativity interacts with the urban structure. The rising tendency of the property value and quality stimulates global investors to demand more and more qualified ... see more

Pags. 675 - 696  

Maria Rosa Trovato

The valorization processes of real estate capital are strongly influenced by the ability of the different buildings to capture and incorporate some liquidity flows, this capacity, is closely related to the dynamics of the market, of its segments and the s... see more

Pags. 697 - 720  

Sergio Mattia,Alessandra Oppio,Alessandra Pandolfi

One of the most criticism in Real Estate appraisal processes based on sales comparison approach is the reliability of data about market prices of comparable properties. In this context, the use of evaluation methods based on hypothetical markets, most wid... see more

Pags. 721 - 734  

Maurizio D’Amato,Nikolaj Siniak

Mass Appraisal is the valuation of large quantity of properties. This automatic valuation procedure gave the opportunity to reach a single point estimate (The Appraisal of Real Estate, 13th Edition). The work test different location sensitive methodologie... see more

Pags. 735 - 743  

Vincenzo Del Giudice,Pierfrancesco De Paola

The estimate of undivided and indivisible real estate shares, in relation to different building types represents, in practice application, a recurring underestimated by the professional appraisers. This problem requires finding a logical so... see more

Pags. 745 - 763  

Maurizio D’Amato,Ion Anghel

Discounted Cash Flow Analysis is a method used for real estate valuation and valuation of worth. The application of DCF requires the selection of an appropriate discount rate. Discount rate estimation is based on the sum between a risk free and a risk pre... see more

Pags. 765 - 776  

Antonella Postorino

The LaboReg has spent years to focus on the purpose of internal research on practical application of the achieved  results and the involvement in all phases of business, governments and local entrepreneurs in order to anticipate times and procedures ... see more

Pags. 777 - 787  

Marko Kryvobokov,Aurélie Mercier,Alain Bonnafous,Dominique Bouf

Housing prices in the Lyon Urban Area are simulated with the land use framework UrbanSim interacting with transportation model. We focus on the Real Estate Price Model of the UrbanSim framework. This OLS regression model of housing prices is calibrated us... see more

Pags. 79 - 90  

Mariola Chrzanowska,Monika Krawiec

The paper aims at application of multidimensional comparative analysis methods to investigating Warsaw real estate secondary market. The research is based on a data base covering more than 300 apartments offered in the fourth quarter of 2010. There were c... see more

Pags. 91 - 104