The land rent as a tool for reuse of existing real estate (against the policy of unsustainable growth of “new” real estate development)

Abstract

Starting from 2008 the real estate crisis changed the approach to the development and transformation of urban areas more than many urban planning tools, effectively regulating the development and transformation of urban areas. In the new scenario, the role of the State and public institutions for driving the transformation of cities has gradually decreased, also due to the inefficiency related to the pachydermic and oxidized bureaucracy. Nowadays, urban regeneration - the transformation of existing real estate assets - is the new channel of intervention that is usually delegated to private initiatives: recovery of past industrial areas, railway stations and tracks, and existing (also historical) buildings. Talking about urban regeneration means shifting the focus on issues such as that of smart cities, favouring the existing urban fabric and, even more so, the historical city It also means taking care of the immense heritage of small historic centres, which must necessarily become an engine for rebalancing the territory and economic development, albeit “slow”. Based on an economic-urban combined analysis, this document illustrates the opportunities that urban regeneration can (and should) have on the housing market and society and which must be then the (good mechanisms) government by public institutions that are in charge of governing the territory, to achieve a reasonable balance between collective interest and private interest (without demonizing the income). Against the policy of unsustainable growth of new real estate development!.