• What is gentrification?
• Causes of gentrification
• Consequences of gentrification
• Examples of gentrification

We explain what is the gentrification of a neighborhood or city, its causes, consequences and examples in Mexico and France.

With gentrification, traditional inhabitants cannot pay their rent.

What is gentrification?

Gentrification is an urban phenomenon in which a neighborhood or a town is renewed and acquires a capital gain (increase in value) and is attractive to tourists and higher-income social sectors.

This phenomenon usually occurs in humble neighborhoods that are located near major urban centers where residents of the city are gradually being displaced. class low that originally inhabited the area. It begins with the arrival of a class with greater purchasing power, which buys the properties in the area to sell or rent them at a higher value.

East process it causes an improvement in real estate, in addition to growth and commercial development that leads to a displacement of humble residential areas. Regulation by the authorities is key to controlling land use.

The origin of the word comes from neologism English gentry which means "high bourgeoisie”And was used for the first time in 1964 by the Marxist sociologist Ruth Glass, to try to explain the reality of the processes of the time that were taking place in various cities of London.

The term gentry contemptuously alluded to the landed gentry of England or to the persons of the "good society".

Causes of gentrification

Gentrification is not spontaneous but requires large investments.

Gentrification is not a spontaneous process but is usually the result of speculative ventures, generally promoted by real estate groups and credit institutions. It is a phenomenon that requires great investments to carry out the purchase and rehabilitation of a large number of properties.

Gentrification occurs by the action of various agents, such as:

• The purchase and sale of real estate. Financial groups buy complete buildings so that each property title enters the stock market (in which both titles, Actions, bonds or public debts). This activity generates an increase in the value of the properties.
• The new category stores. Venues such as cafes, bars and shops that attract a clientele Modern and wealthy, they are one of the main factors that lead to a change of image of the city and allow attracting tourists or citizens higher purchasing power.
• Local authorities. The legislation local authority and negotiations between authorities and investors are essential factors to carry out this type of process. The decision making and action on the part of the authorities must contemplate the best way of adaptation for all social sectors.

Consequences of gentrification

The keys to the many temporary rentals are delivered in lock boxes.

As a consequence of gentrification, population humble original is displaced by another with greater purchasing power that can cope with the high costs of the real estate (both for sale and rent).

The revaluation of the land is not only due to the remarkable historical value that a city can represent or its natural attractiveness. The factor that generates an increase in the value of real estate is financial investment in the city, which makes it attractive due to its urban and commercial development (which generates greater demand sale or rental of real estate).

Gentrification occurs with a economy focused on the projection of large business. This process of change generates that a city with productive labor activity can become a city as a commodity per se.

This commodity city is nourished, to a large extent, by tourist activity and a public with great purchasing power, attracted by the offer of services, the heritage historical, the architecture and the design of the city, recreational activities, among others.

Examples of gentrification

Paris becomes more expensive as it becomes more attractive to tourism.

Some examples of cases of gentrification are:

• The city of Paris (France). Every year it loses 12,000 residents because property values ​​have doubled in the last ten years. An aspect that stands out in this case is the appearance: the image of the city is transformed and that makes certain sectors become coveted and "instagrammable" (worthy of being portrayed, published and commented on, in the social networks) For the tourists.
• The Condesa neighborhood (Mexico). It is a middle-class neighborhood that has become the epicenter of nightlife, culinary and residential life, with a continuous commercial display, frequent cultural events and new transportation alternatives. Gentrification has spread to the Roma colony, which is why the area is often called the “Roma-Condesa corridor”.