Research Project: The Financialisation of Home in the Middle East // A study of Lebanon’s mortgage markets: Tracing regulatory changes

The Lebanese real estate and banking boom as visible in newly finished projects in the Corniche an-Nahr area, Beirut © Marieke Krijnen

This project by OIB postdoctoral fellow Marieke Krijnen focuses on the increasing interconnections between real estate and finance in Lebanon. Real estate has always been dependent on the financial sector for loans, but the financial sector itself has become increasingly involved in real estate development, with its own subsidiaries and active investments. The financialisation of real estate is part of a larger movement towards the financialisation of the economy, which began during the 1980s when the capitalist system increasingly created money out of money in order to grow in the face of stagnation and inflation. Academic interest in the interconnections between real estate and finance increased massively following the global financial crisis in 2008, which was caused, in part, by the volatility that secondary mortgage markets had created. Continue reading