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The Great Concentration. Demography, Economy, Real Estate Values and the Development of Italian Metropolitan Cities

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Science of Valuations

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Abstract

Two major events have impacted Italian cities: the economic crises of 2008 and 2012 and the Covid-19 pandemic in 2020 and 2021. This research aims to verify whether, and if so how, Italy’s metropolitan cities, which play a role in regional areas, have transformed over the past decade. To examine this, real estate market values, which are considered an indicator of the attractiveness of cities, were examined, together with other variables describing the economic and demographic trends of the territory. Cluster analysis was chosen to represent the observed changes, aggregating cities according to common patterns. To obtain a long-term assessment the analysis considered the cities’ reactions between 2012 and 2022. The results revealed stable and rigorous trends. In the main cluster, which includes Milan, a process of economic-territorial concentration is observed, which is influenced neither by the 2008–2012 crisis or the pandemic. In the second cluster, peripheral metropolitan cities that have undergone very limited growth developments are identified. Finally, the third cluster consists of cities with growth opportunities and critical economic and demographic aspects.

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Notes

  1. 1.

    Agenzia delle Entrate, Observatory of the Real estate Market. Available at: https://www.agenziaentrate.gov.it/ (Accessed 21 April 2023).

  2. 2.

    Immobiliare.it, Property price data in Italy. Available at: https://www.immobiliare.it/mercato-immobiliare/ (Accessed 21 April 2023).

  3. 3.

    Istat.it. Available at: https://www.istat.it/ (Accessed: 21 April 2023).

  4. 4.

    Tuttitalia.it, Guide to the Municipalities, Provinces and Regions of Italy, Available at: https://www.tuttitalia.it/ (Accessed: 21 April 2023).

  5. 5.

    Department of Finance (MEF), Tax declaration and income, Finance Department. Available at: https://www1.finanze.gov.it/ (Accessed: 21 April 2023).

  6. 6.

    Chamber of Commerce, Business Register | Official Data. Available at: https://www.registroimprese.it/home (Accessed: 23 April 2023).

  7. 7.

    Data on the number of universities come from: Wikipedia, Ranking of Italian universities by number of students (Accessed: 23 April 2023).

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Authors and Affiliations

  1. Department of Architecture and Art, Università Iuav di Venezia, 30135, Venice, Italy

    Ezio Micelli

  2. Department of Management Engineering, University of Padua, 36100, Vicenza, Italy

    Eleonora Righetto

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  1. Ezio Micelli
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  2. Eleonora Righetto
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Correspondence to Ezio Micelli .

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Editors and Affiliations

  1. Department of Civil Engineering & Architecture, University of Catania, Catania, Italy

    Salvatore Giuffrida

  2. Department of Civil Engineering & Architecture, University of Catania, Catania, Italy

    Maria Rosa Trovato

  3. DIA, University of Trieste, Trieste, Italy

    Paolo Rosato

  4. Rome, Italy

    Enrico Fattinnanzi

  5. DASTU, Politecnico di Milano, Milano, Italy

    Alessandra Oppio

  6. DASTU, Politecnico di Milano, Milano, Italy

    Simona Chiodo

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Micelli, E., Righetto, E. (2024). The Great Concentration. Demography, Economy, Real Estate Values and the Development of Italian Metropolitan Cities. In: Giuffrida, S., Trovato, M.R., Rosato, P., Fattinnanzi, E., Oppio, A., Chiodo, S. (eds) Science of Valuations. Green Energy and Technology. Springer, Cham. https://doi.org/10.1007/978-3-031-53709-7_10

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