The paper presents a methodology of extraction, integration and elaboration of data from different sources using the geographic information system (GIS), to realize a georeferenced building database (GBD) useful for the seismic vulnerability assessment of existing buildings on a large scale. Three levels of GIS entities have been defined and equipped with the related information: census section (CS), urban block (UB), and individual building (IB), depending on the level of detail of dataset. Additional information about the typological and structural features has been extracted by CARTIS catalogue, to refine the data associated with each building. The data have been validated using detailed information gathered on a proper sample of buildings, which have been filed and analyzed one-by-one. The alphanumeric format of data allows for the automatic implementation of different methods available in the literature, which provide a qualitative seismic vulnerability index at different scales (whole urban district, an urban block, and a single building). Finally, the 3D representation of data and results have been elaborated, providing a tool easily searchable and constantly implementable. An application has been developed for a case study in Puglia, Italy: Bisceglie, for which 3726 IB have been assessed. The work addresses the issue of the lack of information typical of large-scale applications, exploiting all the available data sources to achieve nearly complete knowledge of existing building stock finalized to a rapid but extensive evaluation of the seismic vulnerability on an urban scale with very low computational efforts and the use of limited resources in terms of time and cost.
Purpose The purpose of this study is providing a possible methodological solution to the valuation of cyclical.assets. International Valuation Standards introduce a brand new definition of property: the cyclical asset (International Valuation Standards Council 2017, IVS 105, p. 39 and p. 41). Among different property valuation methods, normally this kind of properties is appraised using income approach. In this group of methodology, the opinion of value is based on a proportional relationship between property value and rent. In the past years, a group of methods called cyclical capitalization has been proposed (d’Amato, 2003; d’Amato, 2013;d’Amato, 2015; d’Amato, 2017a; d’Amato 2017 b; d’Amato, 2017c). This method proposes an integration between property valuation and property market cycle. Design/methodology/approach Cyclical capitalization method is applied using a time series of property market rent of offices in prime location in the South Bank area in London. It consists of the determination of more than one all-risk yield to reproduce the property market cycle. Findings A comparison between the cyclical capitalization and two traditional capitalization rate shows how the proposed model is able to provide a stable opinion of value. Research limitations/implications The method may represent a contribution for the determination of the value of cyclical assets or for the mortgage lending value. Practical implications This paper provides the possibility to have a property valuation method less sensitive to upturn and downturn of the property market. Social implications The valuation based on cyclical capitalization are less sensitive to the upturn and the downturn of the market. Originality/value It is one of the first scientific paper addressing the problem of the determination of the value of cyclical assets.
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