Abstract
For decades, historical assets have been considered, particularly real estate, as a heritage to be conserved, but limiting the use to museums. The concept of enterprise was considered far removed, if not an indication of the dangerous commodification of the aforementioned assets. On the one hand, the emergence of an ever-increasing demand for cultural services connected to this patrimony, and, on the other hand, the increasing difficulties in finding adequate resources for the conservation of the latter, have pushed a greater number of operators to take into consideration the instrument of cultural industry, the latter whose goal is to secure resources for the maintenance of the artistic historical patrimony by exploiting the potential of the same. Italy is an important test for this challenge, because it can count on an intense pool of historical and artistic heritage, that is unique and unrivalled in the world.
 
 In this paper, therefore, we try to relate the investments necessary for the conservation and enhancement of the Italian private historical real estate assets, with the concentration of the aforementioned in certain realities and with the current local economic development of cultural and creative industries.
 
 The cross analysis shows clearly how the enhancement of private real estate assets is particularly relevant in smaller cities and can represent a stimulus for a specific economic, social and cultural growth model.
 
 However, this opportunity at the local level is unfortunately not always cultivated, therefore, we call for a comprehensive set of structural, long-term interventions in the sector, both at national and supranational level, for not only economic but social revival of private historical heritage.
Highlights
Cultural heritage represents a public good, as it is a natural capital, and the former, like the latter, can be a key factor for economic and social development
The results show a greater presence of private real estate in small Italia cities, compared to urban centers of medium (60.000 – 250.000 inhabitants) and large cities
Studying the possibility of incentives or investments to support the enhancement of this patrimony that we can demonstrate a certain relationship between heritage and the development of the territory concerned. This cross analysis of the necessary investments for the enhancement of private cultural property, the concentration of tied private real-estate assets in economically marginalized areas, and the relevance of cultural activities in the local economy shows how the development potential linked to this heritage has been largely unfulfilled
Summary
Cultural heritage represents a public good, as it is a natural capital, and the former, like the latter, can be a key factor for economic and social development. Very often for NUTs greater than 2, the data released by institutional sources for statistical dimensions at NUT 1 level are not clearly disaggregated and, for this reason, it is necessary to collect via field investigations. This method creates problems when comparing studies and very often presents errors and inconsistencies (Reeves, 2002; Everitt, 2009). The quality of the statistical data is extremely important with this method
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