SINFONIA Project Mass Appraisal: Beyond The Value Of Energy Performance In Buildings
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SubjectSpatial hedonic price; Analytic hierarchy process; Mass appraisal; Energy retrofit; Smart city
Energy retrofit of existing buildings stock is today a major urban challenge and opportunity. Although a market appreciation of green buildings is generally recognized, specificities related to different countries, contexts and sectors still need further investigation. Moreover, the energy retrofit carries with it multiple elements, ranging from monetary savings to personal fulfillment of living greener. The ongoing European smart city project SINFONIA offers the chance to analyze a double international case study, and to estimate expected positive effects on dwellings’ value, due to energy retrofit measures undertaken at the district level. This paper, starting from previous similar experiences, designs an operational approach based on spatial hedonic price method and analytic hierarchy process. Finally, it suggests how to develop a spatialized mass appraisal by linking results with a geographical information system. Such approach will contribute to assess the socio-economic impact of SINFONIA project and to evaluate the effectiveness of further smart city initiatives
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