Real estate dynamics and securitization: the connections and impacts of financialization on the production of urban space

• Grant number: 24/00254-7
• Support Opportunities: Scholarships in Brazil - Doctorate
• Start date: May 01, 2025
• End date: February 29, 2028
• Field of knowledge: Humanities - Geography - Human Geography
• Principal Investigator: Everaldo Santos Melazzo
• Grantee: João Vitor de Souza Ferreira
• Host Institution: Faculdade de Ciências e Tecnologia (FCT). Universidade Estadual Paulista (UNESP). Campus de Presidente Prudente. Presidente Prudente , SP, Brazil

Abstract

The project in question aims to analyze the securitization processes, one of the facets of the financialization of real estate, between 2017 and 2024 and the transformations that have occurred in the spatial performance of urban space producing agents, who have been adopting such instruments to finance production and increase consumption of their ventures. The project seeks to analyze this sophisticated financial market instrument, which has as its logic the capture of land rents, from debts and/or real estate loans, granting liquidity to poorly liquid goods, enabling ventures and their consumption, connecting them to the financial market. To this end, the project will focus on the analysis of two real estate economic groups that have been using such instruments to finance their residential production on a national scale. The selection of the economic groups analyzed will be carried out based on the data on the issuance of Real Estate Receivables Certificates (CRIs) by all companies and identification of the most relevant ones, in order to understand, spatially and temporally, how such instruments impact the production of urban space based on the viability of real estate production and the transformation of the spatial logics and strategies of agents.