‘You Can Touch the Bricks’: The role of Asset Tangibility in Landlord Investment Decision Making
For three decades, Private Rented Sector (PRS) growth has been driven by part-time, small-scale, profit-seeking landlords in several Western nations. While the characteristics and motivations of these landlords have been examined in some geographies, far less is known about their investment decision-making, particularly their reasons for choosing the PRS over alternative investment options. This matters because these decisions shape the sector’s growth and tenant welfare. The study begins to address this gap by exploring the role of asset tangibility in landlord investment decisions, drawing on research from other investment domains. A mixed methods study was conducted, comprising an online survey of 1,033 Scottish landlords and follow-up interviews with 33 landlords and PRS professionals. Findings suggest that some landlords exhibit a bias towards the ‘bricks and mortar’ tangibility of PRS investment, which shapes risk perceptions and aspects of their investment decision-making. The findings have several implications. For landlords, there are concerns around investment efficacy; for policymakers, questions about landlord financial literacy; and for tenants, risks to their welfare from landlord decision-making. While the findings are not directly transferable, they are likely to have salience in other nations with established PRSs, including Australia, Canada, the United States, and parts of Europe.
Non-profit Housing Providers in a ‘Dominating’ Housing Regime: Re-strengthening the Role of Dutch Housing Associations
Throughout the European Union governments have reduced their investment in social housing, a trend that has also affected the Netherlands. Providers of social rental housing have faced policy changes that have challenged the dominant role in the unique Dutch unitary rental market regime. This paper examines the extent to which a revival of this dominant role can be attributed to the government’s recent interventions. It contextualises the subsequent challenges facing the housing market currently and in the future based on a review of relevant literature, policy documents, and input from interviewed experts. The largely qualitative interpretation shows that recent government interventions have given providers of social rental housing back some of the previous autonomy they had lost in terms of financing and regulation. We argue that providers of social rental housing are regaining a more important role in providing housing for low- and medium-income groups.
Continuities and Discontinuities in Financing Affordable Housing in Austria between 1990 and 2023
Austria has several elaborate instruments for financing the construction and the management of affordable housing, both public and private. The main public instrument that supports the delivery of both new affordable housing and finance renovations is the Wohnbauförderung der Länder, where funding is provided via the nine regional authorities in Austria. While this instrument has proved to be a relatively stable source of funding for affordable housing providers over many decades, recent developments in the housing market have presented a number of challenges to the effectiveness of this funding instrument. This paper takes stock of the system of public housing finance in Austria by looking at continuities and discontinuities between the 1990s and 2023, both in terms of public spending and in terms of the delivery of new affordable housing. The paper does this by drawing on public data on affordable housing finance and on data gathered and published by the Austrian Federation of Limited-Profit Housing Associations (GBV). The paper critically assesses this system and draws lessons of relevance for Austrian and EU housing policymaking.
Stimulating the Housing Market: the Case of Poland’s ''2% Safe Mortgage'' Policy
This study examines the impact of Poland’s ‘2% Safe Mortgage’ policy on dwelling price inflation in both the primary and secondary markets. Using quarterly data from Q2 2011 to Q4 2024 for the seven largest cities in Poland and a VAR model with forecast scenarios, the analysis finds that the policy had a measurable effect on price dynamics. In the primary market, the credit shock led to an additional increase in dwelling price inflation of approximately 6.7 percentage points by the third quarter. In the secondary market, the effect was stronger, reaching around 7.4 percentage points compared to a no-policy scenario. A significant share of price growth was also driven by indirect factors, including expectations of further increases. The analysis shows the importance of well-designed government policy in shaping housing market outcomes and mitigating unintended price pressures.
Housing in the EU’s National Recovery and Resilience Plans: Insights from the Portuguese case
The Recovery and Resilience Plans that were launched in response to the COVID-19 crisis mark a shift in the European Union’s approach to crisis management that involves expanding the use of community funds to address housing challenges through an integrated and multidimensional framework. In Portugal, the 1st Right – Housing Access Support Programme serves as the primary mechanism for tackling housing precarity, making it the main recipient of this funding. This article examines the programme’s implementation through three core dimensions: progress towards quantitative targets, equity in territorial funding distribution, and institutional capacity. It analyses how housing precarity is defined in housing policies, how resources are distributed across municipalities, and what challenges hinder the programme’s effectiveness. The findings highlight the need for process optimisation, strategic planning, and stronger support for disadvantaged regions to ensure that the programme meets its goals of social and territorial cohesion. By drawing lessons from the Portuguese case, this study provides insights for other EU Member States, highlighting the importance of policy frameworks that combine shared objectives with locally responsive implementations.
An Introduction to the Special Issue: Buenos Aires as a Laboratory for Housing Policy: Strategies, Innovations, and Inequalities in a Latin American Housing Regime
In the comparative housing policy literature, in addition to surveys of broad trends and the
formulation of housing regime typologies, deep dives into specific local or national cases can also provide necessary empirical evidence for reformulating theoretical frameworks and challenging long-held
assumptions. This is particularly true when taking on countries and regional contexts that are under-
represented in the housing studies literature. In order to make a contribution in this regard, this special issue examines recent housing policies in Buenos Aires, Argentina. By taking Buenos Aires as both a microcosm of the Latin American housing regime and a ‘laboratory’ for housing policy, the articles in the special issue explore the politics of housing policy in a Global South megacity. This close reading of continuity and change in local approaches reveals the socially constructed and politically contested nature of housing policy ‘innovation’, as well as tensions with existing housing inequalities.
Do Buenos Aires’ Policies Truly Constitute Something New? Ruptures, Continuities, and Innovative Elements in the Concept of Socio-Urban Integration
This article analyses the concept of socio-urban integration, which has shaped recent policies for
informal settlements in Buenos Aires and informed regional policy exchange. Based on qualitative research and governmental discourse analysis, it examines how the concept is framed and implemented. While often presented as innovative, it reveals tensions and limitations, particularly in conflating integration with assimilation and privileging physical upgrading over comprehensive, participatory approaches. Nevertheless, these policies introduced novel elements into housing policy, notably in terms of scale, target population, urban location, and architectural design. The study questions the originality of this model within broader Latin American trends.
Evaluating the Impact of Housing Redevelopment: The Case of the Barrio Playón de Chacarita Informal Settlement in Buenos Aires
This article assesses the impact of the Integral Redevelopment Project (PIRU) in the Playón de Chacarita neighbourhood, an informal settlement in Buenos Aires, based on a policy designed to address housing shortages for vulnerable groups. Using quantitative methods, the study compares data from 2010, 2016 (an ad hoc), and 2022 censuses to evaluate the programme’s success in reducing overcrowding and enhancing housing conditions. Results indicate significant improvements, with overcrowding falling from 20% to 2%, a figure that matches wider urban benchmarks. However, the analysis reveals persistent challenges in curbing housing informality, as post-PIRU data show an unanticipated rise in the number of dwellings, suggesting that there are flaws in beneficiary targeting or that the expansion of the informal settlement has continued. The findings emphasise the need for consistent evaluation methodologies in housing policies and highlight the limitations of localised interventions without broader socioeconomic reforms.
Social Housing within Public–Private Development: The Advances and Limitations of Housing Policy in the Urban Entrepreneurialism of Buenos Aires
Large-scale urban development projects in Latin America are known for exacerbating patterns of urban segregation, in contexts where housing has long been market-oriented and inclusive initiatives such as social housing have been neglected. The ‘Barrio Parque Donado-Holmberg’ in Buenos Aires represented – after highly contested disputes – a partial break in this regard. Located in an area that had faced decades of decline, with a low-income population living in precarious conditions, this project was presented as a ‘self-financing’ public–private development with a social mix policy that would integrate the community already living there. Although the housing policy included options that allowed people to remain in place, other options implied the displacement of the population. Additionally, the disparities between public and private implementation, as well as rising land value, call into question the inclusiveness of the project. Therefore, the complex and contradictory outcomes highlight the tensions in implementing housing policies under the logic of urban entrepreneurialism.
Mass Social Housing, Territorial Transformations, and State Space in the Buenos Aires Metropolitan Region
Public policies can be understood as long-term processes that continuously reshape state territoriality. This study aims to analyse the processes through which state space is produced in the implementation of social housing policies, focusing on how state spatiality is expressed, with a particular emphasis on the local scale. The research is structured around two analytical categories – strategies and projects – and two key dimensions: instrumental and territorial. The empirical analysis focuses on the case of the Federal Housing Plan in Mariano Acosta (Merlo, Buenos Aires) and Virrey del Pino (La Matanza, Buenos Aires). The findings show that, while the state operates across multiple scales, local governments play an essential and highly significant role by exerting control over territorial occupation and organisation. The study underscores the adaptability of social housing policy to territorial dynamics and local specifics.
The Inertia of Policies for People Experiencing (or at Risk of) Homelessness in Buenos Aires: Notes on the Persistence of Precariousness
For nearly 20 years, the ‘Housing Subsidy 690’ programme has provided economic aid to those experiencing homelessness in the city of Buenos Aires. In practice, it bridges two precarious housing situations: living on the street and living in the city’s single-room occupancy (SRO) hotels. Although it was initially created as a housing programme that was intended to address the shortcomings of previous policies towards homelessness and solve a complex issue, nearly 20 years after its creation a certain inertia around the policy can be perceived, as well as fractures in its functioning. Drawing on interviews with beneficiaries and professionals involved in the administration of the subsidy, as well as a review of secondary data, this article describes the functioning of the programme and suggests that it constitutes a form of policy inertia that contributes to perpetuating housing instability and homelessness. We argue that receiving the subsidy does not resolve housing vulnerability, as it contributes to an intermittent cycle between these unstable housing conditions, thereby reproducing this vulnerability.
