IDEAS home Printed from https://ideas.repec.org/a/taf/intjhp/v17y2017i1p120-144.html
   My bibliography  Save this article

Ethnic connections, foreign housing investment and locality: a case study of Seoul

Author

Listed:
  • Hyung Min Kim

Abstract

A new trend in global cities has been the increasing volume of foreign capital flowing into property markets with cross-border housing investment becoming a focus for international migrants. However, how ethnicity plays out in the housing market, particularly for home ownership, along with global migration, has not been well explored in emerging economies despite the increase in human and capital mobility. The aim of this paper is to identify the main housing investors with respect to ethnic connections and to explore intra-urban spatial expressions of foreign housing investment using Seoul as a case study. The result reveals that knowledge of local circumstances, usually via previous residency or shared ethnicity, can be significantly strengthened via ethnic and/or family ties. Koreans living in high-income Western Anglophone countries such as the USA, Canada, Australia and New Zealand have been the key source of inbound funds in Korea. Foreign housing investment has appeared in three key areas where different groups of foreign nationals and translational class have been concentrated.

Suggested Citation

  • Hyung Min Kim, 2017. "Ethnic connections, foreign housing investment and locality: a case study of Seoul," International Journal of Housing Policy, Taylor & Francis Journals, vol. 17(1), pages 120-144, January.
    • Handle: RePEc:taf:intjhp:v:17:y:2017:i:1:p:120-144
    DOI: 10.1080/14616718.2016.1189683
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/14616718.2016.1189683
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/14616718.2016.1189683?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dallas Rogers & Chyi Lin Lee & Ding Yan, 2015. "The Politics of Foreign Investment in Australian Housing: Chinese Investors, Translocal Sales Agents and Local Resistance," Housing Studies, Taylor & Francis Journals, vol. 30(5), pages 730-748, July.
    2. Gerlach, Richard & Wilson, Patrick & Zurbruegg, Ralf, 2006. "Structural breaks and diversification: The impact of the 1997 Asian financial crisis on the integration of Asia-Pacific real estate markets," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 974-991, October.
    3. Henry Wai-chung Yeung & Jessie Poon & Martin Perry, 2001. "Towards a Regional Strategy: The Role of Regional Headquarters of Foreign Firms in Singapore," Urban Studies, Urban Studies Journal Limited, vol. 38(1), pages 157-183, January.
    4. Javorcik, Beata S. & Özden, Çaglar & Spatareanu, Mariana & Neagu, Cristina, 2011. "Migrant networks and foreign direct investment," Journal of Development Economics, Elsevier, vol. 94(2), pages 231-241, March.
    5. Sun Sheng Han, 2005. "Polycentric Urban Development and Spatial Clustering of Condominium Property Values: Singapore in the 1990s," Environment and Planning A, , vol. 37(3), pages 463-481, March.
    6. Kim, Kyung-Hwan, 1990. "An analysis of inefficiency due to inadequate mortgage financing: The case of Seoul, Korea," Journal of Urban Economics, Elsevier, vol. 28(3), pages 371-390, November.
    7. Gao, Ting, 2003. "Ethnic Chinese networks and international investment: evidence from inward FDI in China," Journal of Asian Economics, Elsevier, vol. 14(4), pages 611-629, August.
    8. Charles Harvie & Hyun-Hoon Lee & Junggun Oh (ed.), 2004. "The Korean Economy," Books, Edward Elgar Publishing, number 2969.
    9. John Friedmann, 1986. "The World City Hypothesis," Development and Change, International Institute of Social Studies, vol. 17(1), pages 69-83, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kim, Hyung Min, 2020. "International Real Estate Investment and Urban Development: An Analysis of Korean Activities in Hanoi, Vietnam," Land Use Policy, Elsevier, vol. 94(C).
    2. Lokman Gunduz & Ismail H. Genc & Ahmet Faruk Aysan, 2022. "Buying Citizenship: A Boon to District-Level House Prices in Istanbul," Housing Policy Debate, Taylor & Francis Journals, vol. 32(4-5), pages 697-712, July.
    3. Lisha He & Mia M Bennett & Ronghao Jiang, 2022. "The uneven geography of real estate investment by Mainland Chinese state-owned and private enterprises in the U.S.: Local market conditions, migration, and ethnic networks," Environment and Planning A, , vol. 54(4), pages 653-675, June.
    4. Hila Zaban, 2020. "The real estate foothold in the Holy Land: Transnational gentrification in Jerusalem," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3116-3134, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hyung Min Kim, 2017. "Ethnic connections, foreign housing investment and locality: a case study of Seoul," European Journal of Housing Policy, Taylor and Francis Journals, vol. 17(1), pages 120-144, January.
    2. repec:mod:depeco:0002 is not listed on IDEAS
    3. Murat, Marina, 2014. "Out of Sight, Not Out of Mind. Education Networks and International Trade," World Development, Elsevier, vol. 58(C), pages 53-66.
    4. Felbermayr, Gabriel & Grossmann, Volker & Kohler, Wilhelm, 2012. "Migration, International Trade and Capital Formation: Cause or Effect?," IZA Discussion Papers 6975, Institute of Labor Economics (IZA).
    5. Frédéric Docquier & Elisabetta Lodigiani, 2010. "Skilled Migration and Business Networks," Open Economies Review, Springer, vol. 21(4), pages 565-588, September.
    6. Hatzigeorgiou, Andreas & Lodefalk, Magnus, 2017. "Anti-Migration as a Threat to Internationalization?," Ratio Working Papers 302, The Ratio Institute.
    7. Hatzigeorgiou, Andreas & Lodefalk, Magnus, 2018. "Do Migrants Facilitate Internationalization? A Review of the Literature," Working Papers 2018:11, Örebro University, School of Business, revised 19 Dec 2019.
    8. Jayet, H. & Marchal, L., 2016. "Migration and FDI: Reconciling the standard trade theory with empirical evidence," Economic Modelling, Elsevier, vol. 59(C), pages 46-66.
    9. Bas Karreman & Martijn J. Burger & Frank G. van Oort, 2017. "Location Choices of Chinese Multinationals in Europe: The Role of Overseas Communities," Economic Geography, Taylor & Francis Journals, vol. 93(2), pages 131-161, March.
    10. Francesco LISSONI, 2016. "Migration and Innovation Diffusion : An Eclectic Survey," Cahiers du GREThA (2007-2019) 2016-11, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    11. Flisi, Sara & Murat, Marina, 2011. "The hub continent. Immigrant networks, emigrant diasporas and FDI," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 796-805.
    12. Elisabetta Lodigiani, 2009. "Diaspora Externalities as a Cornerstone of the New Brain Drain Literature," DEM Discussion Paper Series 09-03, Department of Economics at the University of Luxembourg.
    13. Miao Wang & M. C. Sunny Wong & Jim Granato, 2013. "The Effect of Foreign Direct Investment on International Migration: Does Education Matter?," The World Economy, Wiley Blackwell, vol. 36(5), pages 537-562, May.
    14. Marina Murat, 2014. "Soft, hard or smart power? International students and investments abroad," Center for Economic Research (RECent) 107, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    15. Xu, Xu & Sylwester, Kevin, 2016. "The effects of foreign direct investment on emigration: The roles of FDI source country, education, and gender," Economic Modelling, Elsevier, vol. 55(C), pages 401-409.
    16. Changjun Yi & Xiaoyang Zhao & Ying Huang & Jie Yu & Jipeng Zhang, 2022. "Migration networks and subsidiary survival of EMNCs: The mediating effect of entry mode," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(6), pages 2299-2310, September.
    17. Garas, Antonios & Lapatinas, Athanasios & Poulios, Konstantinos, 2015. "The complex-network based relation between migration and FDI in the OECD," MPRA Paper 68341, University Library of Munich, Germany.
    18. Antonios Garas & Athanasios Lapatinas & Konstantinos Poulios, 2016. "The Relation Between Migration And Fdi In The Oecd From A Complex Network Perspective," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 19(06n07), pages 1-20, September.
    19. Jackie M. L. Chan & Huanhuan Zheng, 2022. "FDI on the move: cross-border M&A and migrant networks," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(3), pages 947-985, August.
    20. Cuadros, Ana & Martín-Montaner, Joan & Paniagua, Jordi, 2019. "Migration and FDI: The role of job skills," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 318-332.
    21. Cuadros, Ana & Martín-Montaner, Joan & Paniagua, Jordi, 2016. "Homeward bound FDI: Are migrants a bridge over troubled finance?," Economic Modelling, Elsevier, vol. 58(C), pages 454-465.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:intjhp:v:17:y:2017:i:1:p:120-144. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REUJ20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.