Die Arbeit setzt sich mit der Internationalisierung des Wohnungsmarktes in Deutschland auseinander. Hierbei wird der Frage nachgegangen, wie sich nach dem Komplettverkauf kommunalen Wohneigentums Kommunikation und Zusammenarbeit auf dem Wohnungsmarkt und im Rahmen von Stadtentwicklungsprozessen ändern. Anhand von Fallstudien in Kiel, Osnabrück und Wilhelmshaven werden kommunale und wohnungswirtschaftliche Handlungsstrategien und Interaktionsorientierungen lokaler Akteure miteinander in Beziehung gesetzt. Auch wenn mit Hilfe eines Urban Governance-Ansatzes gewonnene Erkenntnis große Unterschiede bei kommunalen Gestaltungsansprüchen zeigen, ist ein prinzipieller Steuerungsverlust nach der Veräußerung nachweisbar. Vor allem finanzwirtschaftlich orientierte Investoren und ihr geringes investives Interesse führen zu einer nachhaltig geringer werdenden Gestaltungskraft auf Quartiersebene. / Certainly since the late-1990s deregulation as well as local authority debt reduction eventually has begun to take effect on local authority housing. In this context, the owners of public housing sold large quantities of their housing stock as well as whole housing companies. The sale of publicly owned housing property to international investors creates new opportunities for the housing economy due to different approaches to management and marketing. At the same time, sales to ‘new investors’ also bear risks for housing markets, urban renewal and urban planning. In this context, local authorities not only face a growing range of actors with increasingly diversified economic interests. But also, in addition, they are expected to initiate processes of integrated urban development in order to respond to structural change and its consequences. Research into newly emerging and changing relationships between actors in local housing markets is only in its beginnings in the field of regional studies. This work pu rsues as its key question: Following the complete sale of local authority housing stock, how do approaches, communication as well as strategies for collaboration of key actors in the housing markets develop under conditions of structural change? The focus of the comparative empirical case studies rests on the fields of urban development and the housing market. A comparative case study design with a heuristic-descriptive urban governance approach in Kiel, Osnabrück and Wilhelmshaven was chosen. Corresponding to the knowledge from the detailed evaluation, results and conclusions are to be drawn for the praxis and for further research.