Institutional investment in social rental housing: France, the Netherlands and the United Kingdom explored

Institutional investment in social rental housing: France, the Netherlands and the United Kingdom explored

Haffner, M.E.A.
Hoekstra, J.S.C.M.
Tang, C.
Oxley, M.

Architecture and The Built Environment

OTB

2015-06-29

In the United Kingdom, social landlords are facing decreasing governmental financial support for them to fulfil their role in the provision of social housing, which has led to increasing pressure on them to rely on private capital. Traditionally, bank loans were the main source of private capital, but after the Global Financial Crisis (GFC) and the credit crunch, social landlords have had to identify alternative sources of capital funding. At the same time, institutional investors have the strong intention to diversify their investment portfolios. This paper aims to explore whether institutional investors might be interested in diversifying their investment into social rental housing in France, the Netherlands and the United Kingdom. The paper considers broadly why social landlords want institutional investors, why institutional investors have been investing in social rental housing, the returns, risks and barriers associated with institutional investment in social rental housing, and finally how the GFC and government regulatory policies potentially influence future institutional investment in the sector. The research was based on interviews with a small number of social housing providers and institutional investors in these three countries.

bond finance
equity investment
intermediate renting
social housing

http://resolver.tudelft.nl/uuid:4b355572-7c31-4789-9672-857b685182e8

ENHR

ENHR 2015 Conference ‘Housing and Cities in a time of change: are we focusing on People?’ Lisbon, Portugal, 29 June-1 July 2015

Institutional Repository

conference paper

(c) 2015 The Author(s)