MIPIM IS WHERE THE BIG BAD LANDLORDS MEET
During the years of the global housing bubble 2003-2007 many public institutions, municipalities and industrial companies in North-Rhine-Westphalia sold their rental housing stocks to transnational financial investors. Many houses were sold several times, some companies failed. Here is a selection of 5 important “investors” who attend the MIPIM (directly or through a parent company). Together they control nearly half a million housing units in Germany.
In 1999 Hackney Council in London decided to knock down and rebuild Woodberry Down Estate – one of London’s largest housing estates, with roughly 2,000 council rented homes. But the big winners are not the tenants but developer Berkeley Homes. Some blocks have been demolished and some tenants re-housed, but most buildings, including the oldest and worst blocks of flats, with serious problems of damp, are still standing. Meanwhile, two glossy tower blocks for sale by the developer stand on the prime part of the estate, with an attractive view of the reservoir.