Mobiler Immobilienmarkt? Finanzmarkt und Immobilienökonomie

Heeg Susanne
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Heeg Susanne: Hamburg

ZFW – Advances in Economic Geography, 2004, vol. 48, issue 1, 124-137

Abstract: Mobilization of the real estate market? Financial market and real estate economy. Since the late 1980s the real estate industry in Germany is transforming from a locally embedded industry towards an internationally oriented one. In this article it is asked how this fundamental change was possible and how the internationalisation is taking place and is coordinated. A starting point of the internationalisation is the deregulation of the national financial system which resulted in a mobilisation and professionalisation of real estate agents. After describing the changes in the politicoinstitutional embedding of the real estate market, the restructuring of networks and its effects upon spatio-economic patterns is analysed. By dividing the real estate market in an user, land, developer and investment market it is possible to show different degrees of internationalisation in the markets and the interdependency of the different market agents upon each other. It is claimed that the financial deregulation is a central motor in transforming the spatial orientation of the agents.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:zfwige:v:48:y:2004:i:1:p:124-137:n:9

DOI: 10.1515/zfw.2004.0009

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