Financialised office markets and the cities. The example of Frankfurt am Main
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.
|Date of creation:||Nov 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 00352 / 58 58 55 - 1
Fax: 00352 / 58 58 55 - 700
Web page: http://www.liser.lu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kathe Newman, 2009. "Post-Industrial Widgets: Capital Flows and the Production of the Urban," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 314-331, 06.
- Baum, Andrew E. & Lizieri, Colin & Scott, Peter, 1998.
"Ownership, Occupation and Risk. A View of the City of London Office Marker,"
eres1998_185, European Real Estate Society (ERES).
- Colin Lizieri & Andrew Baum & Peter Scott, 2000. "Ownership, Occupation and Risk: A View of the City of London Office Market," Urban Studies, Urban Studies Journal Limited, vol. 37(7), pages 1109-1129, June.
- Harald Bathelt & Andersand Malmberg & Peter Maskell, 2002. "Clusters and Knowledge Local Buzz, Global Pipelines and the Process of Knowledge Creation," DRUID Working Papers 02-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
When requesting a correction, please mention this item's handle: RePEc:irs:cepswp:2011-51. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Library and Documentation)
If references are entirely missing, you can add them using this form.