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The Role and Behaviour of Commercial Property Investors and Developers in French Urban Regeneration: The Experience of the Paris Region

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  • Ingrid Nappi-Choulet

    (Real Estate and Urban Planning Department, ESSEC Business School, Avenue Bernard Hirsch-BP 105, F-95021-Cergy Pointoise Cedex, France, nappi@essec.fr)

Abstract

This paper provides an analysis of the factors underlying private investment decisions concerning property development, with specific reference to urban regeneration in the French context. It is based on the results of a behavioural survey and MCA analysis of the behaviour patterns and motivations of active private investors and developers in the French commercial property markets and their involvement in French urban regeneration initiatives. The pattern of investment and development activity over the 1997-2002 French property market recovery period has been studied and a typology of actors set up, based on their investment policy for these property markets. The findings indicate that property investors in urban regeneration essentially seek speculative developments and short-term investments.

Suggested Citation

  • Ingrid Nappi-Choulet, 2006. "The Role and Behaviour of Commercial Property Investors and Developers in French Urban Regeneration: The Experience of the Paris Region," Urban Studies, Urban Studies Journal Limited, vol. 43(9), pages 1511-1535, August.
    • Handle: RePEc:sae:urbstu:v:43:y:2006:i:9:p:1511-1535
    DOI: 10.1080/00420980600831692
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    References listed on IDEAS

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    Cited by:

    1. Tuna Kuyucu & Özlem Ünsal, 2010. "‘Urban Transformation’ as State-led Property Transfer: An Analysis of Two Cases of Urban Renewal in Istanbul," Urban Studies, Urban Studies Journal Limited, vol. 47(7), pages 1479-1499, June.
    2. Zhang, Jiayu & Yang, Xiaodong & Wang, Hao, 2021. "Age-friendly regeneration of urban settlements in China: Game and incentives of stakeholders in decision-making," Land Use Policy, Elsevier, vol. 111(C).
    3. Jesper Ole Jensen & Jacob Norvig Larsen & Kresten Storgaard, 2011. "Generating private co-investments in area-based urban regeneration: Lessons from Denmark," ERES eres2011_343, European Real Estate Society (ERES).
    4. Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008. "Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005)," European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
    5. Antoine Guironnet & Katia Attuyer & Ludovic Halbert, 2016. "Building cities on financial assets: The financialisation of property markets and its implications for city governments in the Paris city-region," Urban Studies, Urban Studies Journal Limited, vol. 53(7), pages 1442-1464, May.
    6. Leandro Nogueira de Freitas, 2009. "Passage Roads in Megacities: the case of Dr. Zuquim Street in São Paulo, Brazil," LARES lares2009_175-347-1-rv, Latin American Real Estate Society (LARES).
    7. Ingrid Nappi-Choulet & Aurelien Decamps, 2013. "Can Sustainability Enhance Business District Attractiveness? A Survey of Corporate Property Decisions in France," Urban Studies, Urban Studies Journal Limited, vol. 50(16), pages 3283-3304, December.
    8. Christian Livi & Pedro Araujo & Olivier Crevoisier, 2012. "Les territoires de l'innovation "durable": des milieux locaux à la communication "responsable". Les cas du photovoltaïque et de la finance durable en Suisse occidentale," GRET Publications and Working Papers 05-12, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    9. Nappi-Choulet, Ingrid & Décamps, Aurélien, 2011. "Is Sustainability Attractive for Corporate Real Estate Decisions ?," ESSEC Working Papers WP1106, ESSEC Research Center, ESSEC Business School.
    10. Tao Zhou & Yulin Zhou & Guiwen Liu, 2017. "Key Variables for Decision-Making on Urban Renewal in China: A Case Study of Chongqing," Sustainability, MDPI, vol. 9(3), pages 1-19, March.
    11. Antoine Guironnet, 2019. "Cities on the global real estate marketplace: urban development policy and the circulation of financial standards in two French localities," Post-Print halshs-02297204, HAL.
    12. Julie Pollard, 2023. "The political conditions of the rise of real-estate developers in French housing policies," Environment and Planning C, , vol. 41(2), pages 274-291, March.
    13. Fabrice Larceneux & Denis Guiot, 2019. "The role of services in homebuyers’ attitudes: A field experiment in the French off-plan housing market," Urban Studies, Urban Studies Journal Limited, vol. 56(14), pages 2880-2896, November.
    14. Chen, Yawei, 2022. "Financialising urban redevelopment: Transforming Shanghai’s waterfront," Land Use Policy, Elsevier, vol. 112(C).
    15. Thierry Theurillat & Olivier Crevoisier, 2013. "The Sustainability of a Financialized Urban Megaproject: The Case of Sihlcity in Zurich," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 37(6), pages 2052-2073, November.
    16. Martijn van den Hurk & Tuna Tasan-Kok, 2020. "Contractual arrangements and entrepreneurial governance: Flexibility and leeway in urban regeneration projects," Urban Studies, Urban Studies Journal Limited, vol. 57(16), pages 3217-3235, December.

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