Investments and financial intermediation in the urban land market. Main findings from the study of land transactions in Santiago de Chile, 2010-2015

《Investments and financial intermediation in the urban land market. Main findings from the study of land transactions in Santiago de Chile, 2010-2015》

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来源: EURE-REVISTA LATINOAMERICANA DE ESTUDIOS URBANO REGIONALES,Vol.44,Issue133,P.29-50

作者单位: [Gasic, Ivo] Univ Alberto Hurtado, Santiago, Chile. Gasic, I (reprint author), Univ Alberto Hurtado, Santiago, Chile. E-Mail: igasic@uahurtado.cl

摘要: The capitals that converge in the Santiago's urban land market have been characterized in this work. It is considered that under financialization processes of the world capitalist economy and its penetration at the national level, it is foreseeable a greater placement of capital of financial origin that are available to the land positioning to expand the metropolitan real estate activity. An empirical method of land transaction analysis is used to study this process, with a database of transactions registered in the Metropolitan Santiago's Area for the period 2010-2015. The main result obtained is that, during this period, the largest buyers of land correspond to financial entities represented by investment companies, banks and insurance companies. The acquisitions of financial institutions exceed even the participation of all companies in the real estate sector, which reveals the importance of the logic of valorization of financial capital in the urban land market.