Publications

03 Nov 11

Financialised office markets and the cities. The example of Frankfurt am Main.

Authors: DÖRRY Sabine.

Abstract: In the past two decades, real estate has been transforming from owner-occupied utilities into (well-performing) financial products with high yield expectations from investors. In this regard, the main objective of the paper is to discuss two central processes, which not only materialise in urban space but, following their inherent economic logic, reinforce each other. First, the increased volatility of office markets in international financial centres is a result of the liberalisation of the international financial markets and has been creating places of capital ex-traction within those cities. Second, and on the contrary, municipalities face in-creasing restrictions on domains such as urban planning, forced by the necessity to attract private investors to boost the local economy, thus, retracting the po-litical space for manoeuvre with respect to the varied needs of their own inhabi-tants.

Reference: DÖRRY Sabine. Financialised office markets and the cities. The example of Frankfurt am Main. CEPS/INSTEAD, 2011, Working Papers n°2011-51, 32 p.

Keywords:
real estate office markets,
financialisation,
planning policy,
Frankfurt am Main

JEL: A14, P16, R11, R58.

Linked publications
DÖRRY Sabine, HANDKE Michael.
Articulo - Journal of Urban Research, 2012, n°9, 11 p.
HEEG Susanne, DÖRRY Sabine
In: DZIOMBA, M., KRAJEWSKI, C. Dei Immobilienwirtschaft als geographisches erufsfeld. Aktuelle Themen - Methoden – Einsatzbereiche. Münster: Arbeitsberichte der Arbeitsgemeinschaft Angewandte Geographie Münster, 2011, pp. 47-56.
DÖRRY Sabine, ROSOL Marit
In: METZNETTER, W.; MUSIL, R. Europa. Metropolen im Wandel. Wien: Mandelbaum-Verlag, 2011, pp. 123-136.
DÖRRY Sabine
In: SCHEUPLEIN Christoph, WOOD Gerald. Nach der Weltwirtschaftskrise: Neuanfänge in der Region? Berlin und Münster : Lit Verlag, 2011, pp. 32-48.