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Assessing exclusionary displacement through rent gap analysis in the high-rise redevelopment of Santiago, Chile

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  • Ernesto López-Morales

Abstract

Rent gap theory is used here as a way to analyse exclusionary displacement in six high-rise urban renewal areas in Santiago, Chile. Drawing on a survey of 746 original households, this article finds 40 per cent of low-income owner-residents do not have the chance to purchase new replacement accommodation using the portion of rent gap they capture after selling their land to high-rise developers. Whilst the sale price of new apartments rises, a particular type of blockbusting limits the choices of the low-income residents to selling at a good price or staying put. The ratio between the different ground rent levels captured either by developers and original owner-residents confirms the extensive power deployed by the large-scale real estate firms at the moment of gentrifying central areas and the extent to which they generate residential displacement. The ground rent capture is a political economic process, not a function of the market.

Suggested Citation

  • Ernesto López-Morales, 2016. "Assessing exclusionary displacement through rent gap analysis in the high-rise redevelopment of Santiago, Chile," Housing Studies, Taylor & Francis Journals, vol. 31(5), pages 540-559, July.
    • Handle: RePEc:taf:chosxx:v:31:y:2016:i:5:p:540-559
    DOI: 10.1080/02673037.2015.1100281
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