The Value of Spaces in the Digital Revolution

Abstract

AbstractThe paper aims to discuss the theme of value of spaces in the digital revolution. The diffusion of information and communications technologies has outlined the birth and development of new models, strategies and paradigms, whose common denominator is the high degree of automation and interconnection, a founding element of that epochal turning point known as “Fourth Industrial Revolution”. One of the main directions of this phenomenon is represented by the design of physical or digital environments in which humans and technological systems interact in increasingly open, connected, coordinated and intelligent ecosystems. From the design of smart cities to the construction of smart homes, it is now increasingly clear that real estate appraisal discipline must approach the assessment of new real estate types, the consideration of fuzzy market segments, the valuation of complex property variables, linked both to new communication and information technologies and to qualitative dimensions related to individual and community well-being and to the health of the environment itself. After framing the theme of digital spaces in the context of the digital revolution, the contribution deepens the aspects related to smart homes, providing the identification of the main estimation methodologies with particular regard to the approach of hedonic prices and the Contingent Valuation Method.KeywordsSmart citiesSmart homesReal estate appraisal