Authors: Tuna Tasan-Kok*, University of Amsterdam
Topics: Urban Geography
Keywords: Property market; governance; residential property
Session Type: Paper
Presentation File: No File Uploaded
Inspired by the literature that emphasises the lack of understanding of the diversity that exists among property investors (Adams & Tiesdell, 2010; Campbell, Tait, & Watkins, 2013; Wainwright & Manville, 2017; Raco, Livingstone, & Durrant, 2019;), this study aims to provide a new lens to read changing landscapes of residential property investors. Based on a systematic literature review, we first illustrate the scarce availability of investor differentiations and categorisations in existing studies, and their predominant focus on a simple division of investors in terms of their scale of operation, ranging from local to international levels. Bridging disciplinary divides, we establish a more holistic categorisation and apply this categorisation as a framework to read the changes in the actor landscape of Amsterdam’s residential property market through time. Contrary to the expectations of declining growth or lack of investment capital following the 2008 financial crisis (Engelen & Musterd, 2010), we argue that Amsterdam’s residential property investment market underwent structural changes which enabled new types of investors to enter the marketplace, as well as increased the exposure to residential property as advantageous asset class among longstanding investors. Policy changes at all levels both knowingly and unknowingly supported the new diversities of investors. Amsterdam’s local administration, with its limited resources following the crisis, welcomed new investors to finance residential development activities that the city so urgently needs to address its housing shortage. In this dynamic landscape we aim to investigate how the new diversities in residential property investors influence the spatial governance of Amsterdam.