Quotation Smet, Koen. 2013. The accumulation regime of Salzburg and its interaction with the housing markets. AAG Annual Meeting, Los Angeles, Vereinigte Staaten/USA, 09.04-13.04.


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Abstract

One of the main characteristics of real estate is that it is immobile, i.e. its location is tied to land and cannot be changed. At the same time one of the basic needs of humans is the need for shelter, i.e. housing. Therefore a geographical analysis of housing markets is highly significant. This paper studies the interaction between the general capital accumulation regime and the housing market in the city of Salzburg in order to explain recent price increases. Since the year 2000 the cost of housing in the city of Salzburg with respect to similar Austrian cities increased significantly. In this paper I argue that this evolution has to be analysed within the framework of "urban entrepreneurialism". In the case of Salzburg urban governance is mainly characterised by attracting money into the city by means of consumption. However, by creating a favourable and save environment for consumption (e.g. tourism, cultural events and festivals) the urban region becomes increasingly attractive as a place to live and to extract land rent. At the same time strict regulations limit the availability of land and secure the value of existing real estate. It could even be stated that this is even inherent to this strategy of urban governance. As a result the cost of living/housing increases significantly and socio-economic differentiation occurs. Moreover, this configuration makes Salzburg also attractive for real estate investments, which increased in the wake of the Financial and Economic Crisis that started in 2008.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Paper presented at an academic conference or symposium
Language English
Title The accumulation regime of Salzburg and its interaction with the housing markets.
Event AAG Annual Meeting
Year 2013
Date 09.04-13.04
Country United States/USA
Location Los Angeles
URL http://meridian.aag.org/callforpapers/program/AbstractDetail.cfm?AbstractID=52272

Associations

People
Smet, Koen (Details)
Organization
Institute for Institutional and Heterodox Economics IN (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
1807 Economic geography (Details)
5300 Economics (Details)
5309 Foreign aid (Details)
5325 Political economics (Details)
5335 Political economic theory (Details)
5344 Foreign trade (Details)
5611 Urban and regional analysis (Details)
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