Abstract

A financialized real estate market is both an abstraction of global capital flows and a localized driver of gentrification. Under this premise, architectural form and urban design become a performance of contradicting value formations. Drawing on the methods of urban history, geography, architectural criticism and performative writing strategies, this paper develops a theoretical perspective on the architecture of financialized rental housing based on a relational understanding of architecture and social space. The paper’s point of departure is the financialization of Germany’s social rental housing stock. Recent housing projects undertaken in the metropolitan region of Berlin by the real estate investment companies Vonovia SE and Deutsche Wohnen SE serve as case studies. The analysis identifies five strategies for cost-optimization that, taken together, outline the characteristics of an ideal city of financialization which promotes the destruction of social cohesion in the interests of shareholders.

摘要

金融化的房地产市场既是全球资本流动的抽象，也是高档化的本地化驱动因素。在此前提下，建筑形式与城市设计成为矛盾价值形态的表现。本文借鉴城市历史、地理、建筑批评和表演写作策略的方法，基于对建筑和社会空间的关系理解，发展了金融化出租房屋建筑的理论视角。本文的出发点是德国社会租赁住房存量的金融化。房地产投资公司 Vonovia SE 和 Deutsche Wohnen SE 最近在柏林大都市区开展的住房项目可作为案例研究。该分析确定了五种成本优化策略，