Francesco Tajani

Francesco Tajani
Sapienza University of Rome | la sapienza · Department of Architecture and Design

About

140
Publications
27,429
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1,151
Citations
Citations since 2016
107 Research Items
1009 Citations
2016201720182019202020212022050100150200
2016201720182019202020212022050100150200
2016201720182019202020212022050100150200
2016201720182019202020212022050100150200
Additional affiliations
January 2010 - January 2014
Università degli Studi di Salerno
Position
  • Research Assistant

Publications

Publications (140)
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The sustainability has a central role in the urban policies of cities in Europe and worldwide. The United Nations, Europe and Member States suggest guidelines to make cities and human settlements more inclusive, safe, resilient and sustainable. The European Commission upholds initiatives aimed at improving the city’s resilient status and the migran...
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Policies of environmental redevelopment and urban regeneration, actions for social and multicultural integration, the growing attention to “green” or high energy performance buildings, the need to rethink buildings in “smart” mode due to pandemic emergencies on a global level, all these aspects require to assess the impact of choices about maintena...
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With reference to the National Recovery and Resilience Plan (NRRP), the financial budget provided for a specific project constitutes a fundamental constraint to be taken into account in the selection phase of the initiatives to be carried out. In the present research, a methodological approach based on an optimization algorithm that allows one to m...
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In view of the uncontrolled cities urbanization, climate change and, last but not least, the pandemic crisis from COVID-19, there is the need to implement intervention practices at the territorial scale by an integrated sustainable approach. This to consolidate the different aspects of the design system made by interacting elements in the respect o...
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SHARE LINK: https://authors.elsevier.com/a/1fepn4ckJEyP18 The enhancement of historical, artistic and cultural assets is a topic of significant interest in the international and national context within the policies able to reduce the land take. However, it often happens that the full conservation and enhancement of the cultural heritage site is hin...
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The economic crisis generated by the current Covid-19 has scratched many of the certainties consolidated in the past, highlighting the fragility of the economic system and the need for a more efficient management of the investments. Extreme events, whether environmental, social, health and economic, trigger off shocks to which it is necessary to pr...
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The location of a university campus can generate a virtuous circle of economic effects on the territory, often not limited to the nearby neighborhoods. A frequent phenomenon associated with the construction of a University and which is widely studied in the scientific reference literature, is represented by studentification, namely, the process thr...
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The increase in the frequency and intensity through which natural disasters have hit cities in the last twenty years has created the need to prefigure a model of sustainable urban development not only consistent with the goals promoted by the Agenda 2030, but also efficient in the regulation of the main cause of the natural disasters: consumption o...
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Production and consumption activities have determined a weakness of the sustainable real estate economy [...]
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During the last decades, the public investments have very often determined “white elephants” whose initial costs have increased during construction phase and, at the end of project realization, the necessary financial resources for the operation of the investment have not been available. Starting from these bankruptcy initiatives, different techniq...
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The present research has focused on the development and experimentation of a model for the forced sale value determination. With reference to six study samples consisting of residential properties sold through judicial auctions between November 2020 and May 2021 and each of them located in an Italian region, the forced sale price, the market value...
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In recent decades, the issue of existing buildings’ energy retrofit has played a central role in the context of international and national territorial development policies, mainly due to the obsolescence state that characterizes the housing stock. Since the current need for energy renovation collides with the widespread low spending capacity of the...
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The assessment of sustainability—in its three meanings: economic, social, and environmental ones—needs to be supported by specific econometric and statistical methodologies in order to be properly considered in policymaking processes. In the current literature the use of specific indices, capable of summarizing the three fields of sustainability, i...
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With reference to the Italian context, the present research intends to analyze the functional relationships between the unit cost of restructuring and the selling prices in the residential segment. The analysis has been contextualized to the three clusters (Northern Italy, Central Italy, Southern Italy and Islands) in which the Italian territory is...
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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...
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With reference to real estate auctions activated in the context of judicial procedures (bankruptcy and/or executive), this work develops and tests a logical operating model for the assessment of the forced sale value. This is determined from the market value of the asset by applying an appropriate discount (or premium) coefficient based on the pote...
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The widespread uncertainty that characterizes the current world economic situation has also influenced the real estate market, leading investors towards generally lower risk profiles and more stable returns. However, in the absence of adequate skills, it is difficult to carefully manage the main risks factors which occur during the decision-making...
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Since the current need to renovate the existing residential asset, especially in Italy numerous fiscal measures have been promoted in order to encourage the buildings energy improvement initiatives. Among the incentive policies for the energy requalification, the Italian “Relaunch” Law Decree No. 34/2020 has introduced a fiscal deduction equal to 1...
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Several methods and operational tools for assessing the sustainability and corresponding aspects can be identified in the current literature. At international level, the use of synthetic indices is clearly established through analytical indicators capable of expressing multiple aspects from an economic, social and environmental perspective. By a li...
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Accidents at work represent, globally, a significant social and business cost for all production processes and working sectors. With a view to achieve the Sustainability Goals shared in the 2030 Agenda, it is necessary to design tools that can analyze and monitor the costs related to the accidents phenomenon, to support the Public Administration in...
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With reference to a study sample related to eleven countries (Australia, Canada, Denmark, Germany, Iceland, Ireland, Italy, New Zealand, Norway, Sweden and United Kingdom), the present work intends to identify the impact of specific factors on the sustainability of the construction sector through the definition of a composite index. In particular,...
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The projects for cities’ development must comply with multiple instances defined according to the sustainability dimensions, i.e. economic, social and environmental ones. Even in the light of the most demanding international governmental and other current provisions for climate-change adaptation, initiatives of public and/or private interest must b...
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The multiple features of the urban systems require actions designed according to integrated logics. In line to current European dispositions on ecological transition and digital innovation, worldwide attention is focused on the programming-planning interventions in view of intergenerational equity. The valorization of existing built-natural environ...
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With reference to the redevelopment of brownfields areas, in the present research a non-linear model aimed at assessing the conveniences of regeneration initiatives of the parties involved has been proposed. The model is part of the assessment methods aimed at verifying the financial feasibility of an urban redevelopment intervention carried out th...
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In order to support the decision-making process related to the reduction of land consumption into the urban regeneration interventions, the present research has the aim to define and propose a goal programming-based model that can be adopted for the negotiation phases of public and private subjects involved. In particular, the proposed model can pr...
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In the last decades, some global events such as the economic crisis of 2008 and the COVID-19 emergency of 2020, have generated more attention towards the housing rental market and its capacity to meet several social needs. In order to study the existent demand for houses, then define the interventions on the residential assets to make them more aff...
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Due to the forced changes that the COVID-19 pandemic has had in many aspects of ordinary life (working, social life, training and learning in schools etc.), the characteristics of domestic spaces have significantly modified buying, selling and renting decisions in the real estate market. The aim of this research was to structure a methodology, arti...
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In this paper the relationship between price and rent dynamics in the Italian housing market is studied. The aim is reached through the implementation of a multivariate autoregressive model (VAR), that makes it possible to explain the interdependencies of multiple time series. The analysis considers a series of macroeconomic variables in the model...
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A suitable cap-rate is generally determined through an analogical process in order to estimate the value of any real estate through the capitalization of the incomes. The analogy relates to the risk and duration of similar investments. There are numerous methods to rationalize the valuation of the cap-rate. Appraisals have a certain degree of uncer...
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The second post world-war period has been widely characterized by urbanization phenomena related to the urban rent formation dynamics. The scarcity of public financial resources and the growing privatization of the benefits generated by several territorial initiatives have highlighted the need for negotiation tools capable of ensuring a fair redist...
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With reference to a study sample related to the city of Milan (Northern Italy), the present research intends to identify the impact of the most influencing factors on the residential rents. In particular, in the analysis two hundred and twenty housing properties rented in the second half of 2019 have been collected and the most relevant intrinsic a...
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This paper proposes a logical-deductive model for the estimate of forced sale value, in support of individuals involved in real estate auctions. This value is estimated by starting from market value, considering an appropriate discount/premium coefficient which, due to obtainable yields and associated risk, guarantees transaction admissibility for...
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The present research analyzes the main methods implemented for the assessment of the market value of residential properties in Italian judicial procedures. This value represents the reference for the “starting price” in the subsequent property auctions. An Italian study sample of 514 residential properties assessed by technicians in judicial proced...
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The establishment of real estate funds has made it possible to attract greater local and foreign capital in the context of the enhancement and reuse of the Italian public real estate assets. The process of optimal allocation of the financial resources available in a real estate portfolio, however, is often opaque and linked to multiple factors. The...
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In the present research the risks matrix related to a transformation intervention to be carried out through the Project Financing (PF) operational tool, has been developed. With reference to the expansion and management of the cemetery of a small town located in Southern Italy, the identification and allocation of the risks among the parties involv...
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The present study is part of a wider research line focused on the analysis of the effects caused by the pandemic of the Coronavirus disease (Covid-19) on the Italian residential property market. The paper aims to propose a methodology for the assessment of the effects of this abnormal event on the housing price mechanisms. The research could be an...
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The establishment of the “extraordinary urbanization contribution” with Law no. 165 of 2014 requires regulating the division between public and private of the capital gains achievable from interventions on urban areas or buildings as variant or in derogation of the regulatory instruments in force. The “free interpretation” of the aforementioned dir...
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The economic crisis of 2008 has highlighted the ineffectiveness of the banks in their disbursement of mortgages which caused the spread of Non-Performing Loans (NPLs) with underlying real estate. With the methods stated by the Basel III agreements, aimed at improving the capital requirements of banks and determining an adequate regulatory capital,...
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Among environmental factors, noise represents one of the most relevant determinants on human health and on the urban quality level and, consequently, on real estate values. Thus, the noise pollution issue plays a significant role in public urban policies aimed at increasing the acoustic comfort level and creating more sustainable and comfortable ci...
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Production and consumption activities have determined a weakness of the sustainable real estate economy [...]
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From the 21st century to the present(2021), a worldwide awareness that cities’ development must be based on projects for socio-economic growth and environmental protection is increasing. World governmental agencies and the European Union have suggested action strategies for the construction of «prototype cities» whose value must be founded on the i...
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The present research is focalized on public-private partnership (PPP) procedures as a driving force of urban sustainable development. The paper intends to point out the relevant role played by the public administrations in the implementation of these mechanisms aimed at degraded urban area renovation, public property assets enhancement, or ex novo...
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The design of a natural park is generated by the need to protect and organize, for conservation and/or for balanced growth, parts of the territory that are of particular interest for the quality of the natural and historical–cultural heritage. The necessary tool to support the decision-making process in the design of a natural park are the financia...
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In 2017 the European AVM Alliance emphasized the importance of Automated Valuation Methods, to be used to assess market values and/or to monitor the evolution of property prices. This last aspect has acquired a particular cogency for market operators (sellers, buyers, investors, etc.) over time, in order, on the one hand, to make reliable valuation...
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With reference to “jack up” vessels, this paper has proceeded: to examine the critical aspects of their assessment in the context of the various cases relating to ship appraisal; to catalogue the assessment models proposed in the international literature about the construction cost of similar vessels; to identify the most suitable methodological ap...
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Following the approval of the Basel capital adequacy framework, the credit institutions had to adapt their skills to determine regulatory capital. In this regard, the methodologies defined by the Third Basel Accord [2] have some limits concerning the subjectivity of some aspects and the complexity of the valuation models, especially for the smaller...
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The paper aims to discuss the new typology of the Rent to Buy contract from an appraisal perspective. Starting from the analysis of the contractual typologies alternative to the traditional property sale, the paper analyzes the Rent to Buy formula, with particular reference to the definition of the Discounted Cash Flow terms. The study prefigures t...
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Even if the mortgage lending value is not included among the bases of valuation recognized by the International Valuation Standards, the consequences of the global financial crisis have pointed out the peremptoriness for the banking institutions to adopt, in the transactions that involve properties as credit exposure guarantees, sustainable value j...
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Environmental health studies are a really central topic in the debate about territorial development.
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With reference to the urban redevelopment interventions carried out through the Public Private Partnership procedure, the present research aims at testing a model able to quickly evaluate the convenience of the parties involved (private investors and Public Administrations). The model has been applied to three urban transformation initiatives to be...
Book
This book features a selection of the best papers presented at two recent conferences organized by the SIEV (Italian Society of Appraisal and Valuation). Taking into account the current need for evaluative skills in order to make effective and sustainable investments, it highlights the multidisciplinary role of valuation, which opens the door for i...
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The evaluation of the effects that an urban interventiongenerates on the area in which it is realized, and moregenerally on the city-system, plays a central role in thedefinition of its effectiveness, as it measures the effectsthat may derive from its implementation in terms of im-proving the quality level of the natural and built envi-ronment. The...
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The present research concerns the procedures of concessions for the improvement and exploitation of public property assets. We propose a model that helps to define the optimal combination of novel uses in public properties. This model is an answer to the need for effective strategies to find new functions for disused buildings or abandoned areas. T...
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The sustainable development of cities, by focusing on abandoned or degraded areas, represent the key driver that is able to remedy to damages that are produced by uncontrolled urban growth. The aim of the work is to highlight usefulness of the Cost-Revenue Analysis (CRA) in decision-making process concerning the enhancement of a military complex lo...
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Despite the widespread opinion that the traditional finance is exclusively interested in the monetary return, in the last ten years this sector has been affected by a contamination of the public principles related to the social impacts. The global development and the spread of “win-win” financial instruments such as the Social Impact Bonds (SIBs) o...
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In the present research the effects of urban transformation projects on the housing prices have been analyzed. With reference to a redevelopment initiative in the peripheral area of the city of Bari (Southern Italy), the study has been carried out on a sample of two hundred residential properties, sold in the period 2017–2019 and located in the per...
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With reference to the European goals concerning the noise pollution control, the present research aims at verifying the existence and, eventually, determining the influence level of the acoustic component on the selling prices in the residential segment. The analysis has been contextualized to the city of Bari (Southern Italy) and the study sample...
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Purpose The present research aims to develop and test an evaluation support model for decisions alert soil surface saving to be used in the redevelopment of abandoned and degraded properties through involvement of private developers. Design/methodology/approach Adapting operations research principles to the public–private partnership features that...
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The financial transmission of the USA's housing price bubble has highlighted the inadequacy of the valuation methods adopted by the credit institutions, due to their static nature and inability to understand complex socio-economic dynamics and their related effects on the real estate market. The present research deals with the current issue of usin...
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In the present research the financial convenience of refurbishment investments concerning residential properties located in the Italian territory was analyzed. The study aimed at determining the unit profit range for a potential investor deriving from the refurbishment of residential properties and contextualizing the analysis to the Italian provin...
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With reference to the current topic of the energy efficiency of residential properties, the aim of this research is to analyze the contribution of the energy performance component on the housing prices. The study has been carried out on a sample of two hundred residential properties recently sold and located in the city of Bari (Italy). In addition...
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In the paper an analysis of functional correlations of property prices with the main locational and socio-economic variables, which generally contribute to define the market value of properties, has been developed. Locational characteristics are represented by the surfaces of soil used for the main functions, borrowing the logic of the system of cl...
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Purpose In this research a model for the rationalization of the assessment in a rent to buy contract has been proposed, in order to contextualize the economic amounts involved in the negotiation according to the specific market risk of the area where the property is located. The paper aims to discuss this issue. Design/methodology/approach The mod...
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Purpose The purpose of this paper is to develop an innovative model that can be included within the market approach methods for property valuations. The algorithm takes into account the frequent high level of dissimilarity of the comparables selected for the assessment, thus providing for the use of appropriate similarity and reliability coefficien...