52
L. Sdino et al.
Table 2 Estimated
construction costs
Intended use
Cost
Min.
Max.
Purchase areas (e)
25,000,000 30,000,000
Residential (e/sqm)
1100
1800
Commercial (e/sqm)
900
1700
Offices (e/sqm)
1025
1500
Hospitality (e/room)
70,000
85,000
Outdoor areas (e/sqm)
70
140
Underground car parks (e/car
park)
15,000
18,000
Waterway (e)
67,500,000
Jetty dock (e)
10,000,000
Planning fees (e)
20,000,000
costs
7 and marketing costs,
8 the general overheads of the Private Investor
9 as well
as the unexpected expenses
10 are considered.
The assumed unitary costs are shown in Table 2.
Regard to the cost of the areas—which is the subject of the economic offer to
be presented in the second phase—is considered equal to the average value among
those indicated by the Municipality of Genoa.
11
In the economic evaluation of a real estate development project, the forecast of the
constructed real estate market values is one of the most critical factors that influence
the value of sustainability indicators (Calabrò and Della Spina 2014; Napoli 2015;
Rebaudengo and Prizzon 2017).
For the estimation of unit market values for the residential properties, an analysis
of some property realities was developed which have some similarities to the one in
question in terms of their urban planning and housing characteristics; in particular
are analysed the unitary residential values of buildings located in the Ligurian and
Tuscan coasts, served by major public transport services and located in the immediate
vicinity of port facilities for recreational medium-large boating (with more than 50
moorings).
The survey conducted shows that the values range from a minimum of 3980 e/sqm
to a maximum of 5850 e/sqm.
7 Estimated at 7% of the construction cost.
8 Estimated at 2% of the real estate value.
9 Estimated at 3% of the construction cost.
10 Estimated at 10% of the construction cost.
11 As indicated in the tender documents, the price will fluctuate between 25 and 30 million euros
(values are not binding for the municipality); the value taken in the CRA amounted to e 27.5 million
euros.
L. Sdino et al.
Table 2 Estimated
construction costs
Intended use
Cost
Min.
Max.
Purchase areas (e)
25,000,000 30,000,000
Residential (e/sqm)
1100
1800
Commercial (e/sqm)
900
1700
Offices (e/sqm)
1025
1500
Hospitality (e/room)
70,000
85,000
Outdoor areas (e/sqm)
70
140
Underground car parks (e/car
park)
15,000
18,000
Waterway (e)
67,500,000
Jetty dock (e)
10,000,000
Planning fees (e)
20,000,000
costs
7 and marketing costs,
8 the general overheads of the Private Investor
9 as well
as the unexpected expenses
10 are considered.
The assumed unitary costs are shown in Table 2.
Regard to the cost of the areas—which is the subject of the economic offer to
be presented in the second phase—is considered equal to the average value among
those indicated by the Municipality of Genoa.
11
In the economic evaluation of a real estate development project, the forecast of the
constructed real estate market values is one of the most critical factors that influence
the value of sustainability indicators (Calabrò and Della Spina 2014; Napoli 2015;
Rebaudengo and Prizzon 2017).
For the estimation of unit market values for the residential properties, an analysis
of some property realities was developed which have some similarities to the one in
question in terms of their urban planning and housing characteristics; in particular
are analysed the unitary residential values of buildings located in the Ligurian and
Tuscan coasts, served by major public transport services and located in the immediate
vicinity of port facilities for recreational medium-large boating (with more than 50
moorings).
The survey conducted shows that the values range from a minimum of 3980 e/sqm
to a maximum of 5850 e/sqm.
7 Estimated at 7% of the construction cost.
8 Estimated at 2% of the real estate value.
9 Estimated at 3% of the construction cost.
10 Estimated at 10% of the construction cost.
11 As indicated in the tender documents, the price will fluctuate between 25 and 30 million euros
(values are not binding for the municipality); the value taken in the CRA amounted to e 27.5 million
euros.