Green Building Market Premium: Detection Through Spatial Analysis of Real Estate Values. A Case Study

In this paper a geoadditive model based on penalized spline functions has been applied in order to obtain a spatial distribution of real estate unitary values for a central area of the city of Reggio Calabria (Italy). This for the individuation of progressive real estate sub-samples characterized by a market premium for the presence of green buildings. Geoadditive models allow to predict, quantify and locate in real time where and how real estate values vary in urban context, with possibility to correlate these variations with any phenomenon or economic effect. The combined use of penalized splines with techniques of spatial statistics allows to obtain spatial maps with high reliability on which to base any decisions related to urban investments.