Abstract
In Western Anglophone countries the role of individual foreign investment in residential real estate has a history that stretches back into the mid-20th century. In the 1980s and 90s, the economies of the Four Asian Tigers (i.e. South Korea, Singapore, Hong Kong and Taiwan) and Japan experienced rapid growth. What followed was a sharp increase in Japanese investor activity in the United States (US) and Australian real estate markets and Hong Kong investors in Canadian real estate markets. More than a decade into the 21st century a similar trend appears to be developing around the rise of Brazil, Russia, India, Indonesia, China, and South Africa (i.e. the BRIICS countries). As the economies of the BRIICS countries grow their citizens have quickly become experienced domestic and foreign real estate investors. The global investment practices of BRIICS citizens are beginning to change the real estate landscapes of several Western Anglophone countries (Dorling 2014; Hay 2013). The rise of the BRIICS countries and the continued influence of the Four Asian Tigers is also rupturing the conceptual landsscape for understanding international real estate relations.
Original language | English |
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Title of host publication | Housing in 21st-Century Australia: People, Practices and Policies |
Editors | Rae Dufty-Jones, Dallas Rogers |
Place of Publication | U.K. |
Publisher | Ashgate |
Pages | 221-236 |
Number of pages | 16 |
ISBN (Electronic) | 9781472431141 |
ISBN (Print) | 9781472431134 |
Publication status | Published - 2015 |
Keywords
- cities and towns
- housing
- housing policy
- investments, foreign