Build or Reuse? Built Environment Regeneration Strategies and Real Estate Market in Seven Metropolitan Cities in Italy

To redevelop the existing city without consuming additional land, there are many regeneration strategies. The choice between the various strategies depends essentially on the expectations of developers. This study considers two in particular: the demolition and reconstruction of obsolete buildings and the reuse of existing assets. The research examines the feasibility conditions of the two strategies, highlighting the aspects that favor demolition and reconstruction over reuse with a model that holds together spatial and economic variables. The model is tested in seven metropolitan cities. The results show that demolition and reconstruction is an option that can only be pursued under favorable settlement and market conditions, forcing smaller cities to focus on recovery strategies for existing assets.