The Financialization of Latin American Real Estate Markets: A Research Companion provides an authoritative overview of the real estate asset class in Latin America with chapters covering Mexico, Brazil, Argentina, Columbia, Nicaragua and Chile. The focus is on the current academic research and its relevance for practical applications and is divided into four key themes: real estate-related wealth and macroeconomics, housing price dynamics and affordability, financial crises and structural change, and non-residential real estate. The contributors cover the institutional context for real estate investment, the main players in real estate investment finance in Latin America, real estate appraisal and performance measurement, and real estate portfolios and risk management.
The purpose of this book is to provide an informed overview of urban economics theory applied to financial real estate markets and capital investments practices. This analysis primarily focuses on the financial mechanisms using debt, mortgages and equity positions to operate these markets. The regional focus on Latin America reflects on the way in which cities follow similar patterns in the design of Housing policies and programs, the mechanisms to produce infrastructures and the growing disparities that the allocation of large investments are producing among its citizens. Real estate represents an increasingly significant global asset class and investors and researchers must understand its distinctive characteristics in the region.
Providing a comprehensive reference for students, academics and professionals studying, researching and working in real estate investment, finance and economics, this cutting edge volume will pave the way for future research.
1. Financing the Territory: The Reconfiguration of Real Estate Markets in Latin America 2. Regulatory configuration, evolution and current status of Real Estate Mutual Funds in Colombia 3. Titulización hipotecaria de la vivienda social y urbanización periférica en 4. The New Urban Wastefulness. Financialization of Urban Development in Mexico City 5. Housing financialization: tensions, crises, and evolution 6. From Regulation to Financialization: The Role of the Brazilian State in Housing Markets 7. The territorial dimension of real estate financialization: typologies and topologies of assets in Brazilian REIT’s portfolios 8. REITs: key agents in the expansion of financial investments in the industrial and logistics real estate market in Mexico 9. Financialization of retail sector in Latin America 10. Investment Funds as a movement of the Financial-Real Estate Complex in Brazil 11. The agents of construction, real estate market, and finance towards an expanded field of urban financialization in cities “off the radar” 12. Hacia la financiarización subordinada de la vivienda en Nicaragua: Un análisis crítico de la política habitacional nicaragüense. 13. Variegated urban financialization: implementation of CEPAC in Brazil 14. Megaprojects as testbeds for urban financing models in Latin America: a comparative relational analysis of experiences in Argentina and Brazil
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