The valorisation of public real estate assets in italy: A critical reconstruction of the legislative framework

Abstract

The valorisation of public real estate assets in Italy is of notable interest for its impact on the national economy. This explains why the theme has interested the political class for more than three decades. Despite a great deal of effort by different governments to provide suitable legislation, expected results have yet to be reached. Through a chronological reconstruction of the country’s complex legislative framework, this paper analyses the various policies introduced over the years. The results of this analysis reveal five phases characterised by a set of laws that focused attention, case-by-case, on different aspects and priorities: a first phase focused solely on the sale of public real estate assets; a second that introduced the broader concept of valorisation; a third phase centred on understanding the characteristics of these properties; fourth which introduced the theme of devolution from national to local government; a fifth phase that turned attention toward the simplification of procedural aspects. While these themes are inherently of general interest, reality demonstrates that the complicated legislative framework currently in place has only increased bureaucratic hurdles and drastically slowed the implementation of procedures. The results of this study suggest the need for a more structured decision-making process that, also using protocols, allows for more opportune strategies of valorisation.