From sources of financial value to commons: Emerging policies for enhancing public real‐estate assets in Italy

Enhancing public real-estate assets has been at the centre of a lively debate in Italy. Public policies have focused on the supply-side, assuming that private demand was ready to develop assets. Yet with the decline in the real-estate market, conditions have greatly changed. Italian authorities begun to experiment new approaches to enhance public assets by supporting the grass-roots participation. The aim of this research is to determine the conditions that can predict the successful outcome of bottom-up value creation dynamics in public real-estate properties. Through a multivariate statistical analysis, the study proposes an interpretation of the elements that determine the successful outcome of bottom-up processes.