What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10451/38944 |
Resumo: | In the aftermath of the economic crisis, Lisbon has ascended on to the urban tourism and international property market with a velocity that is transforming the city. Investor immigration programmes and fiscal policy have met their objective of attracting wealthy third country and intra-EU migrants to invest in housing in the city. To date, there is a dearth of empirical and theoretical analyses that explicate the motivations and aspirations of international overseas residential investors. Situated at the intersection of the literature on investment and lifestyle migration, and based on 20 in-depth interviews with experts in the intermediary elite economy, our objective is to understand buyer motivations and the current attraction of the city. We present our results in the form of a typology of new transnational urban homeowners revealing complex forms of mobility that intersect in the city. Our results reveal the continued importance, both directly and indirectly, of lifestyle motivations related with quality of life, culture, amenities and climate. Yet, economic motivations are the most significant, even if diverse, among the residential investor typologies with some seeking a safe haven and others geoarbritage or income optimization. Moreover, our results suggest that the success of government incentives (immigrant investor programmes or tax exemptions) to attract foreign second home buyers are dependent on prospects of city economic growth, rent legislation and the perceived attractiveness of the city/region for tourists making them difficult to replicate across contexts. |
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What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist citySecond homesInvestment migrationLifestyle migrationHomebuyer motivationsLisbonReal estateUrban tourismReal estate tourismGlobalizationCitizenshipIn the aftermath of the economic crisis, Lisbon has ascended on to the urban tourism and international property market with a velocity that is transforming the city. Investor immigration programmes and fiscal policy have met their objective of attracting wealthy third country and intra-EU migrants to invest in housing in the city. To date, there is a dearth of empirical and theoretical analyses that explicate the motivations and aspirations of international overseas residential investors. Situated at the intersection of the literature on investment and lifestyle migration, and based on 20 in-depth interviews with experts in the intermediary elite economy, our objective is to understand buyer motivations and the current attraction of the city. We present our results in the form of a typology of new transnational urban homeowners revealing complex forms of mobility that intersect in the city. Our results reveal the continued importance, both directly and indirectly, of lifestyle motivations related with quality of life, culture, amenities and climate. Yet, economic motivations are the most significant, even if diverse, among the residential investor typologies with some seeking a safe haven and others geoarbritage or income optimization. Moreover, our results suggest that the success of government incentives (immigrant investor programmes or tax exemptions) to attract foreign second home buyers are dependent on prospects of city economic growth, rent legislation and the perceived attractiveness of the city/region for tourists making them difficult to replicate across contexts.Taylor & FrancisRepositório da Universidade de LisboaMontezuma, JoaquimMcGarrigle, Jennifer2019-07-03T16:14:25Z20182018-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10451/38944engMontezuma, J., McGarrigle, J. (2019). What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city. Tourism Geographies, 21(2), 214-234. Doi: 10.1080/14616688.2018.1470196.1461-668810.1080/14616688.2018.1470196metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-08T16:37:01Zoai:repositorio.ul.pt:10451/38944Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:52:41.957793Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
title |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
spellingShingle |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city Montezuma, Joaquim Second homes Investment migration Lifestyle migration Homebuyer motivations Lisbon Real estate Urban tourism Real estate tourism Globalization Citizenship |
title_short |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
title_full |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
title_fullStr |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
title_full_unstemmed |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
title_sort |
What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city |
author |
Montezuma, Joaquim |
author_facet |
Montezuma, Joaquim McGarrigle, Jennifer |
author_role |
author |
author2 |
McGarrigle, Jennifer |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Montezuma, Joaquim McGarrigle, Jennifer |
dc.subject.por.fl_str_mv |
Second homes Investment migration Lifestyle migration Homebuyer motivations Lisbon Real estate Urban tourism Real estate tourism Globalization Citizenship |
topic |
Second homes Investment migration Lifestyle migration Homebuyer motivations Lisbon Real estate Urban tourism Real estate tourism Globalization Citizenship |
description |
In the aftermath of the economic crisis, Lisbon has ascended on to the urban tourism and international property market with a velocity that is transforming the city. Investor immigration programmes and fiscal policy have met their objective of attracting wealthy third country and intra-EU migrants to invest in housing in the city. To date, there is a dearth of empirical and theoretical analyses that explicate the motivations and aspirations of international overseas residential investors. Situated at the intersection of the literature on investment and lifestyle migration, and based on 20 in-depth interviews with experts in the intermediary elite economy, our objective is to understand buyer motivations and the current attraction of the city. We present our results in the form of a typology of new transnational urban homeowners revealing complex forms of mobility that intersect in the city. Our results reveal the continued importance, both directly and indirectly, of lifestyle motivations related with quality of life, culture, amenities and climate. Yet, economic motivations are the most significant, even if diverse, among the residential investor typologies with some seeking a safe haven and others geoarbritage or income optimization. Moreover, our results suggest that the success of government incentives (immigrant investor programmes or tax exemptions) to attract foreign second home buyers are dependent on prospects of city economic growth, rent legislation and the perceived attractiveness of the city/region for tourists making them difficult to replicate across contexts. |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018 2018-01-01T00:00:00Z 2019-07-03T16:14:25Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10451/38944 |
url |
http://hdl.handle.net/10451/38944 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Montezuma, J., McGarrigle, J. (2019). What motivates international homebuyers? Investor to lifestyle ‘migrants’ in a tourist city. Tourism Geographies, 21(2), 214-234. Doi: 10.1080/14616688.2018.1470196. 1461-6688 10.1080/14616688.2018.1470196 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
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metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Taylor & Francis |
publisher.none.fl_str_mv |
Taylor & Francis |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799134463856214016 |