 The French touch to the financialisation of housing. Institutional investment into the Paris city-region (2008–2021)Antoine Guironnet, Pierre-Henri Bono and Nordine Kireche Housing Studies, 2024, vol. 39, issue 12, 2985-3006 Abstract: There is ample evidence of the financialisation of housing as it is purchased by institutional investors and their financial intermediaries. In urban and housing studies, many accounts focus on boom-bust markets targeted by ‘global corporate landlords’. To advance our understanding of the process as variegated and path-dependent, this article focuses on a different case: the Paris city-region. Using transaction data by Real Capital Analytics and qualitative material, we show a quick growth in institutional investment into rental housing since 2016, yet one which assumes limited and specific forms. In particular, usual suspects of housing financialisation such as opportunistic funds and REITs are absent. This pattern is explained by the lack of the collapse of the housing finance system in 2008, as well as the resistance of major investors to re-enter the residential market which many had left. Only recently did it change, mainly due to the underperformance of other financial and property assets and its perceived potential for risk diversification. Date: 2024 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:chosxx:v:39:y:2024:i:12:p:2985-3006 Ordering information: This journal article can be ordered from DOI: 10.1080/02673037.2023.2241830 Access Statistics for this article Housing Studies is currently edited by Chris Leishman, Moira Munro, Ray Forrest, Alex Schwartz, Hal Pawson and John Flint More articles in Housing Studies from Taylor & Francis Journals |
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