## 1 Introduction
Within the context mentioned, the government incentive measures allow, on the one hand, one to activate targeted interventions and, on the other, to deduct significant monetary amounts, by enabling the owners of the properties to be redeveloped to save significant costs. In terms of renovation expenses deducted, these have been equal to 12.7 billion euros in 2019 for the refurbishment interventions carried out for the 2017-2018 two-year period and to 11.3 billion euros in 2018 for the interventions carried out for the two-year period 2016-2017, with an increase from one two-year period to the next one equal to 12.1%. Furthermore, with regards exclusively to the energy requalification interventions carried out in the two-year period 2018-2019, 3.2 billion euros were deducted in 2019, and 2.8 billion euros for the interventions carried out in the 2016-2017 two-year period were written off in 2018, by attesting an increase of 14% during the last two years [8; 12]. In the framework of the most recent regulations aimed at promoting the requalification of the existing building stock, the \"Relaunch\" Law Decree No. 34/2020 [13], converted into Law No. 77/2020, has introduced a fiscal incentive percentage equal to 110% (so-called \"Superbonus\"), providing for the possibility of opting for an advance contribution in the form of a discount applied by the suppliers of goods or services (so-called \"discount on invoice\") or for the assignment of the credit corresponding to the tax deduction due. Among the incentive policies for the improvement of existing assets [14; 15; 16; 17; 18; 19; 20], the \"Relaunch\" Law Decree constitutes an important financing measure aimed at encouraging the implementation of these interventions and at supporting property owners in activatingenergy retrofit operations. The Law No. 178 of 30 December 2020 (Budget Law 2021) has extended the Superbonus to 30 June 2022 and in specific situations until 31 December 2022 or 30 June 2023 [21]. The provisions of the Superbonus allow for the use of the deduction equal to 110% and are added to already defined deductions between 50% and 80% for interventions of recovery of the building stock, based on the article 16-bis of the Income Tax Code (Tuir), including anti-seismic initiatives (so-called \"Sismabonus\") currently disciplined by the article 16 of Law Decree No. 63/2013 [22], and energy requalification of buildings (so-called \"Eco-bonus\"), based on the article 14 of Law Decree No. 63/2013. For these interventions, higher deductions are currently recognized when the intervention concerns common parts of the opaque enclosure for more than 25% of the dispersing surface or when the interventions are carried out on the common parts of buildings located in seismic areas \"1\" (high seismic intensity), \"2\" (medium seismic intensity), \"3\" (low seismic intensity), and \"4\" (very low seismic intensity) and are simultaneously aimed at energy redevelopment and reducing the seismic risk. The present research aims to define a methodology for evaluating the economic benefits, in terms of the convenience of the operators involved, generated by energy requalification interventions carried out through the use of the Superbonus mechanism. Among the various advantages connected to an energy retrofit initiative (bill savings, improvement of building quality, increase of living comfort, etc. ), this study is focused on the assessment of the increase in market value of the residential units in which an energy intervention is performed. The analysis is developed with reference to the Italian territory and to the prevailing--in terms of the most common--building typology (i.e., multi-story building made of reinforced concrete), by considering the current one hundred and ten Italian provincial capitals and the main urban areas into which each city is divided (central, semi-central, and peripheral).