Abstract
By now, it is clear the built environment could play an important role in fighting climate change, since it accounts for around 39% of global energy-related carbon emissions. Generally speaking, Italian residential stock is over 50 years old and around 16% of that needs large interventions due to its poor maintenance condition. So, the maintenance in this context can play a pivotal role in acheiving both energy efficiency and asset valorization. Introduced by a reference framework for the question in the title, this paper presents the case study: a portion of a working-class neighborhoods near the metropolitan city of Turin, marked by very recurrent typologies for the period (early seventies). The local real estate market is discussed to investigate the extraordinary maintenance impact on the property values: the paper considers the market value increase due to the energy class upgrade and the external look improvement. Individual owners putting money on this group of works get a very cost-effective investment and take advantage of Italian legislation supporting these kinds of interventions: the whole is greater than the sum of its parts and in turn greater than the cost assumed for the renovation work.
Highlights
Temperatures have risen by 0.8 ◦C and 1.2 ◦C, with an average increase of about 0.2 ◦C per decade [1] from the preindustrial period (1850–1900) to the present day
The price of each estate depends directly on its reference market (RM), which in turn is conditioned by supply/demand circumstances for similar goods in that specific area
As it is possible to see, between 2008 and 2014, the real estate bubble that originated in the United States caused a decreasing trend; in 2015 the house prices began to increase more than the inflation, and this trend is still ongoing
Summary
Temperatures have risen by 0.8 ◦C and 1.2 ◦C, with an average increase of about 0.2 ◦C per decade [1] from the preindustrial period (1850–1900) to the present day This overwarming phenomenon, anything but isolated, is affecting the whole planet and is causing an increase in extreme weather-related disasters that cause a substantial number of deaths every year: the main reasons for this overwarming must be found in the impact of anthropic activities and their greenhouse gas emissions. The built environment is currently responsible for 39% of global energy-related carbon emissions, where 28% comes from heating, cooling, and power, and 11% from materials and construction processes [4]. It is clear the built environment can have an important role to play against climate change
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