Real estate development and regulatory complexity: an unresolved question

Abstract

The article deals with “real estate and regulatory complexity: an unresolved issue”, placing the theme in the economic, social and territorial framework discussed by the authors. Legislation limits and failures With regard to the question of regulatory overproduction, the problem is linked above all to the continuous approval of laws on valorisation, aimed at defining methods and tools through which these processes can be implemented. As it is possible to highlight, all these regulations are united by an economic vision that provides that valorization is a process through which property acquires economic value and contribute to the maintenance of state funds (Micelli, 2014). This short excursus has several factors which, in different ways, allow to understand how the normative complexity is not only related to overproduction. At the same time, policies focusing on the offer with economic-financial matrix and related to past models are irreparably destined for failure, as it has emerged in recent years. The obvious shift from a form of institutional and regulatory valorization top-down to a local enhancement, informal bottom-up with spontaneous practices and activities, has completely revolutionized the preconceptions related to political valorisation.

Keywords

real estate market; urban economy; Local authorities; governance; Italy; Local development

JEL codes

R58; R31; R52