A/HRC/34/51
United Nations
General Assembly
Distr.: General
18 January 2017
Original: English
Human Rights Council
Thirty-fourth session
27 February-24 March 2017
Agenda item 3
Promotion and protection of all human rights, civil,
political, economic, social and cultural rights,
including the right to development
Report of the Special Rapporteur on adequate housing as a
component of the right to an adequate standard of living, and
on the right to non-discrimination in this context
Note by the Secretariat
The Secretariat has the honour to transmit to the Human Rights Council the thematic
report of the Special Rapporteur on adequate housing as a component of the right to an
adequate standard of living, and on the right to non-discrimination in this context, Leilani
Farha, pursuant to Human Rights Council resolution 31/09.
The report focuses on the “financialization of housing” and its impact on human
rights. It examines structural changes that have occurred in recent years whereby massive
amounts of global capital have been invested in housing as a commodity, as security for
financial instruments that are traded on global markets, and as a means of accumulating
wealth. The report assesses the effect of those historic changes on the enjoyment of the
right to adequate housing and outlines an appropriate human rights framework for States to
address them. The report reviews the role of domestic and international law in that sphere,
and considers the application of principles of business and human rights.
The report concludes with a review of States’ policy responses to the
financialization of housing and some recommendations for more coherent and effective
strategies to ensure that the actions of global financial institutions and actors are consistent
with ensuring access to housing for all by 2030. The Special Rapporteur suggests that, as a
way forward, States must redefine their relationship with private investors and international
financial institutions, and reform the governance of financial markets so that, rather than
treating housing as a commodity valued primarily as an asset for the accumulation of
wealth they reclaim housing as a social good, and thus ensure the human right to a place to
live in security and dignity.
GE.17-00770(E)