Improving Nature-Smart Policies through Innovative Resilient Evaluations

Topic Information

Dear Colleagues,

Production and consumption activities have determined a weakness of the sustainable real estate economy. The main problems are the subordination of public decision-making, which is subjected to pressure from big companies, inefficient appraisal procedures, excessive use of financial leverage in investment projects, the atypical nature of markets, income positions in urban transformations, and the financialization of real estate markets with widespread negative effects. A delicate role in these complex problems is assigned to real estate appraisal activities, called to make value judgments on real estate goods and investment projects, the prices of which are often formed in atypical real estate markets, giving ever greater importance to sustainable development and transformation issues. Furthermore, during recent decades, the overestimation of demographic growth has highlighted the need for urban planning processes restructuring by limiting the area’s building potential, mitigating the loss of place identity with high environmental and cultural value, and preventing uncontrolled land use, also through the valorization and recovery of the existing heritage.

In this context, economic, social, and environmental demands are combined with uncertainties about the near future, relating to economic crises and geopolitical tensions. In the outlined framework, the focus on sustainability issues also has significant relevance in the financial sector: EU Regulation 2019/2088 requires an effort to evaluate the investment risks concerning their ability to promote environmental and social sustainability. In this sense, the European Commission highlights the stress between a short-term approach based on the exclusive profit pursuit and the need for long-term investment aimed at sustainability objectives. This is called an ESG (Environmental, Social, and Governance) investment rating, oriented to assess the contribution of a financial product and/or a real estate project's contribution to improving environmental, social, and governance quality.

The Special Issue is dedicated, but not only limited, to developing and disseminating knowledge and innovations related to the most recent real estate evaluation methodologies applied in the fields of architecture and civil, building, and environmental and territorial engineering. Suitable works include studies on econometric models, sustainable building management, building costs, risk management and real estate appraisal, mass appraisal methods applied to real estate properties, urban and land economics, transport economics, the application of economics and financial techniques to real estate markets, the economic valuation of real estate investment projects, the economic effects of building transformations or projects on the environment, and sustainable real estate, the analysis of the effects of COVID-19 and/or economic crises and/or geopolitical tensions on real estate markets dynamics and the hit on the resilient cities development processes.

Prof. Dr. Pierfrancesco De Paola
Prof. Dr. Francesco Tajani
Prof. Dr. Francesco Sica
Topic Editors

Keywords

Participating Journals

Journal Name	Impact Factor	CiteScore	Launched Year	First Decision (median)	APC
Buildings buildings	3.1	3.4	2011	15.3 Days	CHF 2600	Submit
Land land	3.2	4.9	2012	16.9 Days	CHF 2600	Submit
Real Estate realestate	-	-	2024	15.0 days *	CHF 1000	Submit
Sustainability sustainability	3.3	6.8	2009	19.7 Days	CHF 2400	Submit

* Median value for all MDPI journals in the second half of 2024.

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Published Papers (3 papers)

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All Buildings Land Real Estate Sustainability

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15 pages, 3124 KiB  

Open AccessArticle

Balancing Public and Private Interests in Urban Transformations: Handling Uncertainty with the Monte Carlo Method

by Nicholas Fiorentini, Matteo Moriani and Massimo Rovai

Real Estate 2025, 2(2), 3; https://doi.org/10.3390/realestate2020003 - 29 Apr 2025

Abstract

Urban transformations require balancing private real estate interests with the provision of public spaces that enhance sustainability and ecosystem services. This study proposes a probabilistic model to assess the feasibility of transforming buildable areas while ensuring equitable benefits for both private developers and [...] Read more.

Urban transformations require balancing private real estate interests with the provision of public spaces that enhance sustainability and ecosystem services. This study proposes a probabilistic model to assess the feasibility of transforming buildable areas while ensuring equitable benefits for both private developers and public administrations, with a focus on three areas to be regenerated within the Municipality of Lucca as case studies. Applying the Monte Carlo (MC) method, two probabilistic models—one with a Uniform distribution and the other with a Normal distribution—estimate the expected Transformation Value (TV) and its associated uncertainty. Results highlight the effectiveness of MC-based assessments in managing financial uncertainty, aiding developers in risk evaluation, and supporting policymakers in designing balanced urban planning indices. It was observed that the Uniform model is better suited to situations in which the initial values of the model’s main variables—such as construction costs, post-transformation market value, or transformation duration—are not fully known, whereas the Normal model provides more accurate estimates when the investment scenario is better understood. The results demonstrate that this approach provides, on the one hand, a robust tool for investment risk analysis to private investors and, on the other hand, a way for public institutions to verify whether urban planning indices enable private promoters to contribute effectively to the development of sustainable cities. Full article

(This article belongs to the Topic Improving Nature-Smart Policies through Innovative Resilient Evaluations)

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24 pages, 1502 KiB  

Open AccessArticle

Spatial–Temporal Ontology of Indicators for Urban Landscapes

by Francesco Sica, Pierfrancesco De Paola, Francesco Tajani and Endriol Doko

Land 2025, 14(1), 72; https://doi.org/10.3390/land14010072 - 2 Jan 2025

Viewed by 695

Abstract

Urban development is increasingly scrutinized for its sustainability from an economic, social, and environmental viewpoint. This study emphasizes how important indicators are in capturing the complexity of urban settings when assessing urban landscapes and making sure that comprehensive development plans incorporate all these [...] Read more.

Urban development is increasingly scrutinized for its sustainability from an economic, social, and environmental viewpoint. This study emphasizes how important indicators are in capturing the complexity of urban settings when assessing urban landscapes and making sure that comprehensive development plans incorporate all these aspects. The work aim is to forward the investigation of the ontology of indicators related to urban sustainability, specifically, a framework for spatial and temporal analysis and an attempt to align terminology with the sustainability indicators of the ISO spectrum. The methodology encompasses three main phases: a systematic review of sustainability indicators from the scientific literature across various territorial scales; the mapping of individual indicators to their appropriate spatial–temporal measurement ranges; and the alignment of these spatially and temporally specific indicators with ISO standards. Focusing on the Italian context, this study establishes an ontological spatial–temporal framework. It analyzes ISO indicators that can be managed in Italian spatial settings. The main objective of this part of the research is to select through a critical analysis the most frequent indicators in order to be able to make an alignment and define those that aim more at the goals of the 2030 Agenda on sustainability. This innovative approach enhances urban issue awareness and supports informed decision-making by demonstrating how sustainability indicators can be effectively utilized in downscaling strategies to create a policy for the practical use of indicators. Full article

(This article belongs to the Topic Improving Nature-Smart Policies through Innovative Resilient Evaluations)

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19 pages, 2683 KiB  

Open AccessArticle

Refining Environmental Sustainability Governance Reports through Fuzzy Systems Evaluation and Scoring

by Yung-Fa Yang, Haon-Yao Chen, Yun-Hsiang Chen, Shih-Ping Ho, Chuan-San Wang and Cheng-Fang Lin

Sustainability 2024, 16(16), 7227; https://doi.org/10.3390/su16167227 - 22 Aug 2024

Cited by 1 | Viewed by 1291

Abstract

Environmental, Social, and Governance (ESG) reports have become essential tools for enterprises to showcase their commitment to sustainable development and social responsibility. However, discrepancies persist regarding the criteria, assessments, and ratings disclosed in these reports. Moreover, there is a need for more objective [...] Read more.

Environmental, Social, and Governance (ESG) reports have become essential tools for enterprises to showcase their commitment to sustainable development and social responsibility. However, discrepancies persist regarding the criteria, assessments, and ratings disclosed in these reports. Moreover, there is a need for more objective methods to determine the weight distribution of indicator items. This study introduces a novel approach utilizing semantic variables in fuzzy theory and a multiple logic fuzzy inference system to develop an ESG environmental management performance assessment model. Therefore, this paper aims to develop a novel approach utilizing semantic variables and a multiple logic fuzzy inference system to quantitatively evaluate the sustainable performance of an environmental management plan. This research also aims to ensure fair and objective assessment outcomes, providing valuable guidance for enterprises in implementing performance management strategies. Key aspects investigated include the impact of membership functions, the extended utilization of semantic variables and logical rules, a comparative analysis of traditional weight assessments, and the limitations of applying fuzzy theory. Through comprehensive discussions and calculations, it is evident that fuzzy theory offers considerable flexibility in application. By tailoring fuzzy rules and selecting appropriate membership functions, diverse application scenarios can be accommodated. The Fuzzy systems evaluation and scoring EMP model generates EMP evaluation scores ranging from 1.76 to 8.29 for Gaussian membership, 1.80 to 8.19 for Triangular membership-A, 1.92 to 8.00 for Triangular membership-B, and 1.81 to 8.19 for Quadrilateral trapezoidal membership, based on simulated rating scenarios using the semantic variables of completeness and feasibility. This approach successfully incorporates distribution logic from subjective membership degrees to evaluate EMP scores. The findings demonstrate that fuzzy theory enables the consideration of multiple factors and facilitates the provision of objective-level membership, underscoring its potential in addressing complex evaluation challenges. This study illuminates the versatility of the fuzzy system theory, with its applications poised to extend across various domains. Full article

(This article belongs to the Topic Improving Nature-Smart Policies through Innovative Resilient Evaluations)

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