The Economic Value of Residential Land in Historical Areas: An Application of the Residual Method to the Secondary Market

Land value bears significant weight in house prices in historical town centers. An essential aim for regulating the mortgage market, particularly in the financial and property crisis that countries such as Spain are undergoing, is to have at hand objective procedures for its valuation, whatever the conditions (location, construction, planning). Of all the factors contributing to house price make-up, the land is the only one whose value does not depend on acquisition cost, but rather on the location-time binomial. That is to say, the specific circumstances at that point and at the exact moment of valuation. For this reason, the most commonly applied procedure for land valuation in town centers is the use of the residual method: once the selling price of new housing in a district is known, the other necessary costs and expenses of development are deducted, including those of building and the developer’s profit. The value left is that of the land. To apply these procedures it is vital to have figures such as building costs, technical fees, tax costs, etc. But, above all, it is essential to obtain the selling price of the new housing. This is not always feasible, on account of the lack of newbuild development in this location. This shortage of information occurs in historical town cities, where urban renewal is slight due to the heritage-protection policies, and where, nevertheless there is substantial activity in the secondary market. In these circumstances, as an alternative for land valuation in consolidated urban areas, we have the adaptation of the residual method to the particular characteristics of the secondary market. To these ends, there is the proposal for the appreciation of the dwelling which follows, in a backwards direction, the application of traditional depreciation methods proposed by the various valuation manuals and guidelines. The reliability of the results obtained is analyzed by contrasting it with published figures for newly-built properties, according to different rules applied in administrative appraisals in Spain and the incidence of an eventual correction due to conservation state.

New Constructive Solutions to Improve Energy Efficiency in Existing Buildings and their Economic Viability

The improvement of energy efficiency in existing buildings is always a challenge due to their particular, and sometimes protected, constructive solutions. New constructive regulations in Spain leave a big undefined gap when a restoration is considered because they were developed for new buildings. However, rehabilitation is considered as an opportunity for many properties because it allows owners to obtain benefits from the use of the buildings. The current financial and housing crisis has turned society point of view to existing buildings and making them more efficient is one of the Spanish government’s aims. The economic viability of a rehabilitation action should take all factors into account: both construction costs and the future operative costs of the building must be considered. Nevertheless, the application of these regulations in Spain is left to the designer’s opinion and always under a subjective point of view. With the research work described in this paper and with the help of some case-studies, the cost of adapting an existing building to the new constructive regulations will be studied and Energetic Efficiency will be evaluated depending on how the investment is recovered. The interest of the research is based on showing how new constructive solutions can achieve higher levels of efficiency in terms of energy, construction and economy and it will demonstrate that Life Cycle Costing analysis can be a mechanism to find the advantages and disadvantages of using these new constructive solutions. Therefore, this paper has the following objectives: analysing constructive solutions in existing buildings - to establish a process for assessing total life cycle costs (LCC) during the planning stages with consideration of future operating costs - to select the most advantageous operating system – To determine the return on investment in terms of construction costs based on new techniques, the achieved energy savings and investment payback periods.

Integrating periurban agrarian ecosystem services into spatial planning to cope with urban pressure

According to Corine Land Cover databases, in Europe between 1990 and 2000,77% of new artificial surfaces were built on previous agrarian areas. Urban sprawl ¡s far from being under control, between 2000 and 2006 new artificial land has grown in larger proportion than the decade before. In Spain, like in most countries, the impact of urban sprawl during the last decades has been especially significant in periurban agrarian spaces: between 2000 and 2006, 73% of new artificial surfaces were built on previous agrarian areas. The indirect impact of this trend has been even more relevant, as the expectations of appreciation in the value of land after new urban developments reinforce the ongoing trend of abandonment of agricultural land. In Madrid between 1980 and 2000 the loss of agricultural land due to abandonment of exploitation was 2-fold that due to transformation into urban areas. By comparing four case studies: Valladolild, Montpellier.Florence and Den Haag, this paper explores if urban and territorial planning may contribute to reduce urban pressure on the hinterland. In spite of their diversity, these regions have in common a relative prosperity arising from their territorial endowments, though their landscapes are still under pressure. The three last ones have been working for years on mainstream concepts like multifunctional agriculture. The systematic comparison and the analysis of successful approaches provide some clues on how to reconsider urban planning in order to preserve agricultural land. The final remarks highlight the context in which public commitment, legal protection instruments and financial strategies may contribute to the goals of urban, peri-urban or regional planning about fostering agrarian ecosystem services

Planning and projects: three visionaires Friedmann, J., Trueba, I. and Ramos, A.

It is impossible to talk about planning as a scientific meta-discipline without mentioning one of the most influential worldwide figures in the second half of the twentieth century: John Friedmann. His contribution to the planning concept on his "Planning as Social Learning" theory is still very relevant. This paper shows the intellectual connection between Friedmann and Angel Ramos and Ignacio Trueba, two of the Spanish intellectual drivers in the engineering project knowledge area, who contributed to founding the Engineering Projects Spanish Association. The three of them share a broad vision of the project and abandon the "blue print" planning model. They also see the project as a transformational tool that requires a different planning style to the one which prevailed in the 70s - both in public and private domains. They were pioneers in structuring Knowledge / Action in a different way, both in academic institutions where disciples helped to bring about change- and with direct action via projects.