The transformation of surface rights into property rights. a financial resource for rebalancing municipal budgets. the case of pescara

Over the past thirty years the valorisation of public real estate assets has acquired growing importance in political debate in Italy. After the 1990s, though to an even greater degree following the profound economic crisis of 2007, the idea of a more corporate approach to the managerial activities of Public Bodies began gaining ground as a means for increasing their autonomous access to financial resources. In this situation, the valorisation of public real estate represents one of the most interesting options, so long as it is pursued properly. Beginning with these considerations, this paper explores the transformation of surface rights into full property rights in public housing estates, in accordance with Italian Law n. 448/1998. The underlying hypothesis of this law is compared with three possible alternatives. The intention is to define what appears to be the most correct procedure from the vantage point of estimation.