“La Mano De D1OS” on the Real Estate Market of Naples: The Maradona Mural Between Street Art Cultural Icon and Housing Values

In recent years, the city of Naples has seen increasing attention focused on the mural dedicated to Diego Armando Maradona, located in the Spanish Quarter. Originally a spontaneous expression of street art and initially perceived by the local community as a simple artwork, the mural has gradually transformed into a powerful symbol of identity, becoming a true cultural icon of the city. This process has generated effects that transcend the artistic value of the artwork, contributing to the enhancement of the entire surrounding urban context and altering the social and economic dynamics of the quarter. By considering the Maradona Mural as the epicentre of a range of territorial and socio-economic effects, this paper aims to explore the issue of measuring the influence exerted by its presence on the market values of residential properties located in the Spanish Quarter of Naples. From this perspective, street art can be interpreted as a positive externality capable not only of fostering processes of urban regeneration and the redevelopment of formerly marginalised or degraded areas but also of influencing the dynamics of the local real estate market. Property values reflect not only the intrinsic characteristics of the properties but also the environmental and territorial attributes that contribute to the formation of market prices. From this perspective, properties can be considered as beneficiaries of externalities, whose economic value can be estimated through variations in house prices attributable to changes in environmental and territorial conditions.