Sull’analisi finanziaria di Ellwood un modello che razionalizza la stima del saggio di capitalizzazione

In this paper is developed a procedure to select the appropriate capitalization rate across the financial analysis of an investment based on the real estate of which we are willing to evaluate the market value. The proposed model rationalizes the corrections as well as the adaptations needed by the alternative reference rate, reducing number of input variables in the well known Ellwood model. Its application is simplified by implementation of the algorithm in a software able to reproduce the appraisal of urban properties through out the income approach.