PSI - Issue 64

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Available online at www.sciencedirect.com Structural Integrity Procedia 00 (2023) 000 – 000 Available online at www.sciencedirect.com ScienceDirect Structural Integrity Procedia 00 (2023) 000 – 000 Available online at www.sciencedirect.com ScienceDirect

www.elsevier.com/locate/procedia www.elsevier.com/locate/procedia

ScienceDirect

Procedia Structural Integrity 64 (2024) 1720–1726

SMAR 2024 – 7th International Conference on Smart Monitoring, Assessment and Rehabilitation of Civil Structures Depreciation of urban properties and demolition threshold Benedetto Manganelli a , Pierfrancesco De Paola b , Francesco Paolo Del Giudice c, * a School of Engineering, University of Basilicata, Viale dell’Ateneo Lucano,85100 Potenza, Italy b Department of Industrial Engineering, University of Naples Federico II, Piazzale Vincenzo Tecchio 80, Naples, 80125, Italy c Department of Architecture and Design, University of Rome “Sapienza”, Borghese Sq. 9, 00186 Rome, Italy Abstract The Italian territory is characterized by the presence of numerous degraded buildings, which consequently undergo significant depreciation due to their age and obsolescence, resulting in a reduction of their attributed value. This phenomenon is observed in various areas of the country, both in large cities and small urban centers. Degraded properties pose an aesthetic problem as they contribute to a negative visual impact on the surrounding environment and may affect the quality of life of local communities. They also present socio-economic challenges considering the costs required to restore degraded buildings to normal conditions of use. This study analyzes the dynamics of the market value of a property by separating the contributions provided by the built structure and the land. The depreciation of the built structure is generated by a plurality of factors, all linked to the inevitable passage of time, which can influence or determine the end of the service life of the building, or its economic useful life. The phenomenon of urban rent (positive or negative) also acts on the latter, determined by external factors independent of the technological and physical characteristics of the building. Based on the logical interaction between the two phenomena - the depreciation of the built structure and the urban rent - this study attempts to define a relationship capable of suggesting the potential threshold for demolition. SMAR 2024 – 7th International Conference on Smart Monitoring, Assessment and Rehabilitation of Civil Structures Depreciation of urban properties and demolition threshold Benedetto Manganelli a , Pierfrancesco De Paola b , Francesco Paolo Del Giudice c, * a School of Engineering, University of Basilicata, Viale dell’Ateneo Lucano,85100 Potenza, Italy b Department of Industrial Engineering, University of Naples Federico II, Piazzale Vincenzo Tecchio 80, Naples, 80125, Italy c Department of Architecture and Design, University of Rome “Sapienza”, Borghese Sq. 9, 00186 Rome, Italy Abstract The Italian territory is characterized by the presence of numerous degraded buildings, which consequently undergo significant depreciation due to their age and obsolescence, resulting in a reduction of their attributed value. This phenomenon is observed in various areas of the country, both in large cities and small urban centers. Degraded properties pose an aesthetic problem as they contribute to a negative visual impact on the surrounding environment and may affect the quality of life of local communities. They also present socio-economic challenges considering the costs required to restore degraded buildings to normal conditions of use. This study analyzes the dynamics of the market value of a property by separating the contributions provided by the built structure and the land. The depreciation of the built structure is generated by a plurality of factors, all linked to the inevitable passage of time, which can influence or determine the end of the service life of the building, or its economic useful life. The phenomenon of urban rent (positive or negative) also acts on the latter, determined by external factors independent of the technological and physical characteristics of the building. Based on the logical interaction between the two phenomena - the depreciation of the built structure and the urban rent - this study attempts to define a relationship capable of suggesting the potential threshold for demolition. © 2024 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0) Peer-review under responsibility of SMAR 2024 Organizers © 2024 The Authors. Published by ELSEVIER B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0) © 2024 The Authors. Published by ELSEVIER B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0)

Peer-review under responsibility of SMAR 2024 Organizers Keywords: Depreciation; Obsolescence; Demolition threshold. Peer-review under responsibility of SMAR 2024 Organizers Keywords: Depreciation; Obsolescence; Demolition threshold.

* Corresponding author. E-mail address: francescopaolo.delgiudice@uniroma1.it * Corresponding author. E-mail address: francescopaolo.delgiudice@uniroma1.it

2452-3216 © 2024 The Authors. Published by ELSEVIER B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0) Peer-review under responsibility of SMAR 2024 Organizers 2452-3216 © 2024 The Authors. Published by ELSEVIER B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0) Peer-review under responsibility of SMAR 2024 Organizers

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