Economic Geography Research

Economic Geography Research

Financialization of housing and rethinking of affordable housing planning policies (case study: Tabriz metropolis)

Document Type : Articles extracted from Thesis

Authors
Davod Naghizadeh 1
Fereydoun Babaei Aghdam 2
Hadi Hakimi 2
1 Ph.D. Student, Department of Geography & Urban Planning, Tabriz University Autonomous Campus, Tabriz, Iran
2 Associate Professor, Department of Geography & Urban Planning, Tabriz University, Tabriz, Iran
10.30470/jegr.2025.2049080.1259
Abstract
Financialization of housing is one of the main factors in the excessive increase in housing prices and rents, which has reduced the accessibility of low-income groups to affordable housing in recent years. Therefore, it is necessary to rethink affordable housing planning policies by identifying the factors influencing the implementation of affordable housing plans and policies, emphasizing housing financing. In this regard, the present study was written with this aim in Tabriz metropolis. The research method in the current study is mixed (quantitative-qualitative) with a practical purpose and analytical nature, in order to analyze the information, the ordinary least squares method was used in the Smart-PLS software. The statistical population of the research also includes city managers, academic elites and experts familiar with urban issues, which 200 people have been determined as the sample size using Cohen's formula. The findings of the research show that the greatest impact on the implementation of planning policies and the provision of affordable housing with an emphasis on the financialization of housing related to the components of the supply of government land intelligently to low-income groups, coordination between the policies of the comprehensive housing plan and urban planning plans, accurate and intelligent identification of groups low income, integration and coordination between housing programs, subsidies, and support programs of the Ministry of Welfare, the Ministry of Roads and Urban Development, and appropriate government supervision of housing pricing and rents, and firm action against violators. It is also necessary to prevent the increase in housing prices and rents (financialization of housing) by integrating various urban and economic policies and organizing various actors in the field of housing, and finally to formulate the desired plans and policies to provide affordable housing.
Keywords
Financialization of housing
Affordable housing
Low-income groups
Tabriz metropolis

آفتابی چوان، معصومه؛ پناهی، علی؛ و ولی‌زاده، رضا. (1401). آسیب‌شناسی نظام برنامه‌ریزی مسکن گروه‌های کم‌درآمد در رویکرد آمایش سرزمین (مطالعه موردی: استان آذربایجان شرقی). جغرافیا و مطالعات محیطی، دوره‌ی 11، شماره 43، صص 73-58.

باصری، بیژن؛ کیانی، غفار؛ و ملکی‌پور، محمود. (1400). جذابیت مسکن به‌عنوان یک دارایی مالی در برابر پوشش تورم و اثرگذاری آن بر تقاضای مسکن در ایران. اقتصاد مالی، دوره‌ی 15، شماره 55، صص 106-79.

پورمحمدی، محمدرضا. (1394). برنامه­ریزی مسکن. ویراست 2 با اضافات، چاپ سیزدهم، تهران: انتشارات سمت.

جافری، رحیم؛ موسوی، میرنجف؛ و مصیب‌زاده، علی. (1401). روش تلفیقی برای تدوین و انتخاب راهبردهای توسعه‌ی مسکن گروه‌های کم‌درآمد (مطالعه موردی: مسکن مهر شهرضا). مطالعات برنامه‌ریزی و سکونتگاه‌های انسانی، دوره‌ی 17، شماره 59، صص 330-319.

رخشانی‌نسب، حمیدرضا؛ سلیمانی‌دامنه، مجتبی؛ و صداقت‌کیش، مرضیه. (1399). ارزیابی و تحلیل مؤلفه‌های مؤثر بر افزایش بی‌رویه‌ی قیمت مسکن شهری با استفاده از مدل‌های ترکیبی تصمیم‌گیری چندشاخصه (مورد مطالعه: شهر زاهدان). برنامه‌ریزی توسعه‌ی کالبدی، دوره‌ی 7، شماره 20، صص  51-29.

سرور، رحیم و روستا، مجید. (1393). اصول و مبانی توانمندسازی محلات هدف برنامه­های نوسازی و بهسازی شهری (سکونتگاه­های غیررسمی و بافت­های فرسوده). چاپ اول، ری: انتشارات دانشگاه آزاد اسلامی واحد شهر ری.

مهندسان مشاور نقش محیط. (1395). طرح توسعه و عمران «جامع» تبریز. وزارت راه و شهرسازی، اداره کل راه و شهرسازی استان آذربایجان شرقی، مصوب 24/81395.

مشکینی، ابوالفضل؛ و ضرغام‌فرد، مسلم. (1393). برنامه‌ریزی مسکن. چاپ اول، تهران: انتشارات سمت.

نجفی، سعید؛ راه‌دار، احمد؛ و اسمعیلی، بهزاد. (1402). تحلیلی بر زیست‌پذیری کالبدی مسکن شهری (نمونه موردی : شهر زنجان). پژوهش‌های جغرافیای اقتصادی، دوره‌ی 4، شماره 14، صص 70-54.

Aalbers, M.B. (2019). Financial geography II: financial geographies of housing and real estate. Progress in Human Geography, 43, 376–387.
Alahmadi, M., Mansour, S., Martin, D., & Atkinson, P. (2021). An improved index for urban population distribution mapping based on nighttime lights (DMSP-OLS) data: An experiment in Riyadh Province, Saudi Arabia. Remote Sensing, 13(6), 1-16.
Alexandri, G., & Janoschka, M. (2018). Who loses and who wins in a housing crisis? Lessons from Spain and Greece for a nuanced understanding of dispossession. Housing Policy Debate, 28, 117–134.
Alhajri, M.F. (2022). Housing challenges and programs to enhance access to affordable housing in the Kingdom of Saudi Arabia. Ain Shams Engineering Journal, 13, 1-13.
Arundel, R. (2017). Equity inequity: housing wealth inequality, inter and intra-generational divergences, and the rise of private landlordism. Housing, Theory and Society, 34, 176–200.
Atuestaa, L., H., & Hewings, G.J.D. (2019). Housing appreciation patterns in low-income neighborhoods: Exploring gentrification in Chicago. Journal of Housing Economics, 44, 35–47.
August, M., & Walks, A. (2018). Gentrification, suburban decline, and the financialization of multi-family rental housing: the case of Toronto. Geoforum, 89, 124–136.
Byrne, M., & Norris, M. (2019). Housing market financialization, neoliberalism and everyday retrenchment of social housing. Environment and Planning A, 54(2), 1–17.
Christophers, B. (2021). Mind the rent gap: Blackstone, housing investment and the reordering of urban rent surfaces. Urban Studies, 59 (4), 698-716.
Christophers, B. (2022). Rentier capitalism: Who owns the economy, and who pays for it? Amazoon.com.
Cocola-Gant, A., Jover, J., Carvalho, L., & Chamusca, P. (2021). Corporate hosts: The rise of professional management in the short-term rental industry. Tourism Management Perspectives, 40, 1-11.
Debrunner, G., & Hartmann, T. (2020). Strategic use of land policy instruments for affordable housing – Coping with social challenges under scarce land conditions in Swiss cities. Land Use Policy, 99, 1-12.
Ding, L., Hwang, J., & Divringi, E. (2016). Gentrification and residential mobility in Philadelphia. Regional Science and Urban Economics, 61, 38-51.
Ezennia, I.S. (2022). Insights of housing providers’ on the critical barriers to sustainable affordable housing uptake in Nigeria. World Development Sustainability, 1, 1-16.
Fields, D. (2017). Urban struggles with financialization. Geography Compass, 11(1), 1–13.
Fields, D. (2022). Automated landlord: Digital technologies and post-crisis financial accumulation. Environment and Planning A: Economy and Space, 54(1), 160–181.
Fields, D., & Uffer, S. (2016). The financialization of rental housing: A comparative analysis of New York City and Berlin. Urban Studies, 53(7), 1486–1502.
Franco, S. F., & Santos, C. D. (2021). The impact of Airbnb on residential property values and rents: Evidence from Portugal. Regional Science and Urban Economics, 88, 1-13.
Gil, J., & Martínez, M. A. (2023). State-led actions reigniting the financialization of housing in Spain. Housing Theory and Society, 40(1), 1–21.
Gil, J., Martínez, P., & Sequera, J. (2023). The neoliberal tenant dystopia: Digital polyplatform rentierism, the hybridization of platform-based rental markets and financialization of housing. Cities, 137, 1-11.
Hochstenbach, C. (2018). Spatializing the intergenerational transmission of inequalities: parental wealth, residential segregation, and urban inequality. Environment and Planning A, 50, 689–708.
Holmes, C. (2006). A New Vision for Housing. London And New York: Routledge Is An Imprint Of The Taylor & Francis Group.
Kadi, J., & Ronald, R. (2014). Market-based housing reforms and the “right to the city”: the variegated experiences of New York, Amsterdam and Tokyo. European Journal of Housing Policy, 14(3), 268–292.
Kaika, M., & Ruggiero, L. (2013). Land Financialization as a “lived” process: the transformation of Milan’s Bicocca by Pirelli. European Urban and Regional Studies, 31, 3–22.
Katsinas, P. (2021). Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki. Environment and Planning A: Economy and Space, 53(7), 1652–1670.
Lima, V. (2020). The financialization of rental housing: Evictions and rent regulation. Cities, 105, 1-9.
Martin, I.W., & Beck, K. (2016). Gentrification, property tax limitation, and displacement. Urban Affairs Review, 54(1), 1-11.
Michaels, G., Nigmatulina, D., Rauch, F., Regan, T., Baruah, N., & Dahlstrand-Rudin, A. (2017). Planning Ahead for Better Neighborhoods: Long Run Evidence from Tanzania. Journal of Political Economy, 129(7), 1-17.
Nyden, P.W., Edlynn, E., & Davis, J. (2006). The Differential Impact of Gentrification on Communities in Chicago. Loyola University Chicago Center for Urban Research and Learning, Chicago, IL.
Oikarinen, E. (2006). The Diffusion of Housing Price Movements from Centre to Surrounding Areas. Journal of Housing Research, 15(1), 3-28.
Perera, U., & Lee, P. (2021). A relational lens to understand housing affordability in the 21st Century. Journal of Urban Management, 10, 314–324.
Rahmawati, D., & Rukmana, D. (2022). The financialization of housing in Indonesia: Actors and their roles. Transformation of housing production, 131, 1-11.
Ronald, R., Lennartz, C., & Kadi, J. (2017). What ever happened to asset-based welfare? Shifting approaches to Housing Wealth and Welfare Security. Policy & Politics. 45(2), 173–193.
Savini, F., & Aalbers, M.B. (2016). The de-contextualisation of land use planning through financialisation: urban redevelopment in Milan. European Urban and Regional Studies, 23, 878–894.
Schwartz, H., & Seabrooke, L. (Eds.). (2009). The Politics of Housing Booms and Busts. Palgrave Macmillan, New York.
Stein, S. (2018). Progress for whom, toward what? Progressive politics and New York City’s Mandatory Inclusionary Housing. Journal of Urban Affairs, 40(2), 770–781.
Tsenkova, S. (2008). Housing Policy Reforms in Post-Socialist Europe. Canada: A Springer Company. Verso Books.
Waldron, R. (2018). Capitalizing on the state: The political economy of real estate investment trusts and the “resolution” of the crisis. Geoforum, 90, 206–218.
Wamock, V.C., & Warnock, F.E. (2008). Markets and Housing Finance. Journal of Housing Economics, 17, 239- 251.
Wijburg, G. (2021). The governance of affordable housing in post-crisis Amsterdam and Miami. Geoforum, 119, 30–42.
Economic Geography Research
Volume 7, Issue 23
Spring 2026
Pages 16-34

  • Receive Date 28 December 2024
  • Revise Date 20 March 2025
  • Accept Date 30 March 2025