Gated Communities are often considered as symbols of segregation, privatization of housing or wider process of socio-spatial polarization in different urban contexts (Davis 1999, Low 2001, Rosen und Razin 2009, Kovács 2014). This paper will extend this perception by arguing that gated communities can be also seen as outcomes and symbols of financialization (of housing/urban production). By taking the example of Sofia’s gated communities I will explore a few aspects of the relationalities1 of financialization. This includes a look at the transnational character of urban policy making and housing production as well as an analysis of the materiality and socio-spatial dimension of financialization. Moreover, this paper reveals the involvement of European institutions within the capital circuits that shape the financialization of housing in the case of Sofia’s gated communities. Major financial institutions are deeply involved as well and have become the new (global) landlords.