Actors of financialization in the German housing system

Abstract

It has been shown that the German housing market, instead of not being financialized, has followed a different trajectory that has led to the current phase of financialization, characterized by the booming housing market (especially in the main urban areas) and the recent entrance in the market of private investors. This literature review shows that, while most of the studies available so far focus on specific cities, companies or practices (such as the acquisition of public housing stocks), a comprehensive analysis of the major private investor typology (listed real estate companies), their investment strategies and their effects is missing.

Keywords

• financialization
• housing market
• private investors
• real estate
• urban transformation
• finanziarizzazione
• mercato immobiliare
• investitori privati
• beni immobili
• trasformazioni urbanistiche