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Transnational real estate in Australia: new Chinese diaspora, media representation and urban transformation in Sydney's Chinatown

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  • Alexandra Wong

Abstract

Foreign real estate investment, especially from Asia, is growing rapidly in many global cities. Whilst transnational real estate has recently been highlighted in various media coverage, its actual process is still relatively under researched by housing scholars. This paper fills this research gap by framing transnational real estate in the broader context of intensified globalisation and increased transnational mobility of people, capital and information and by grounding it within the case study of Sydney's Chinatown in Australia which focuses on three dimensions of the process, namely the role of Chinese diaspora in shaping transnational real estate practices, the locality characteristics of Chinatown which contribute to Chinese capital accumulation and urban transformation in the area, and the manner in which transnational real estate investment practices have been reshaped, due to misrepresentation of the issue in public media. Based on in-depth interviews, content analysis of newspapers and analysis of official statistics, this paper demonstrates the global–local nexus of transnational real estate process in Australia which is constituted, and shaped, by various global forces and local factors, including social actors’ motives and practices, geographical settings and cultural politics.

Suggested Citation

  • Alexandra Wong, 2017. "Transnational real estate in Australia: new Chinese diaspora, media representation and urban transformation in Sydney's Chinatown," International Journal of Housing Policy, Taylor & Francis Journals, vol. 17(1), pages 97-119, January.
    • Handle: RePEc:taf:intjhp:v:17:y:2017:i:1:p:97-119
    DOI: 10.1080/14616718.2016.1210938
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    Cited by:

    1. Megan Nethercote, 2019. "Melbourne’s vertical expansion and the political economies of high-rise residential development," Urban Studies, Urban Studies Journal Limited, vol. 56(16), pages 3394-3414, December.
    2. Cian O’Callaghan & Pauline McGuirk, 2021. "Situating financialisation in the geographies of neoliberal housing restructuring: reflections from Ireland and Australia," Environment and Planning A, , vol. 53(4), pages 809-827, June.
    3. Xiao Ma & Zhe Zhang & Yan Han & Xiao-Guang Yue, 2019. "Sustainable Policy Dynamics—A Study on the Recent “Bust” of Foreign Residential Real Estate Investment in Sydney," Sustainability, MDPI, vol. 11(20), pages 1-20, October.
    4. 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.
    5. Alkan Gökler, Leyla, 2021. "Foreign demand and high-rise luxury housing projects in two Turkish cities: Ankara and Trabzon," Land Use Policy, Elsevier, vol. 103(C).
    6. Yanqiu Rachel Zhou & Lisa Watt & William D. Coleman & Evelyne Micollier & Jacqueline Gahagan, 2019. "Rethinking “Chinese Community” in the Context of Transnationalism: the Case of Chinese Economic Immigrants in Canada," Journal of International Migration and Integration, Springer, vol. 20(2), pages 537-555, May.

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