Financiarización y gentrificación transnacional: Raíces de un proceso de transformación urbana en Cuenca, Ecuador

Research output: Contribution to journalArticleResearchpeer review

Authors

  • Matthew Hayes
  • Daniela Celleri

Research Organisations

External Research Organisations

  • St. Thomas University (STU)
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Details

Translated title of the contributionFinancialization and transnational gentrification: roots of an urban transformation process in Cuenca, Ecuador
Original languageSpanish
Pages (from-to)139-161
Number of pages23
JournalSCRIPTA NOVA
Volume27
Issue number2
Early online date30 Jun 2023
Publication statusPublished - 15 Jul 2023

Abstract

The financialization of housing is central to understanding urban development and the processes of transnational gentrification occurring in the Global South. The city of Cuenca offers an emble-matic case, in which transnational investment has induced new processes of urbanization, much of it intended to attract higher-income consumers from the Global North. The transformation of its real estate market from a local one into a transnational one is led partly by Ecuadorian migration to the Global North, but it is also accompanied by North-South lifestyle migration. Both groups have helped to propel real estate construction, especially of new, dense, high-rise condos. The article argues that Ecuador’s attempt to boost its construction sector and expand mortgage credit through securitization of debts has helped to attract transnational pools of migrant wor-kers’ savings to the built environment of its cities—notably Cuenca. Yet the benefits of urban housing investment are not shared by lower-income workers there, who continue to lack access to affordable housing.

Keywords

    Ecuador, Heritage urbanization, housing policy, migration, transnational mobility

ASJC Scopus subject areas

Sustainable Development Goals

Cite this

Financiarización y gentrificación transnacional: Raíces de un proceso de transformación urbana en Cuenca, Ecuador. / Hayes, Matthew; Celleri, Daniela.
In: SCRIPTA NOVA, Vol. 27, No. 2, 15.07.2023, p. 139-161.

Research output: Contribution to journalArticleResearchpeer review

Hayes M, Celleri D. Financiarización y gentrificación transnacional: Raíces de un proceso de transformación urbana en Cuenca, Ecuador. SCRIPTA NOVA. 2023 Jul 15;27(2):139-161. Epub 2023 Jun 30. doi: 10.1344/sn2023.27.40341
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