Factors that determine translocality on the real estate market – globalization and glocalization

Radosław Wiśniewski and Justyna Brzezicka

ERES from European Real Estate Society (ERES)

Abstract: Translocality is a multidimensional concept that accounts for the increasing complexity of globalization and glocalization processes that can be integrated as part of translocal processes. The real estate market is a well-defined area of translocality because its characteristics well fit the definition of locality. The real estate market is regarded as a local market because it is based on property that is immobile in geographic space as well as the inherent components of property. The real estate market has obvious connections with a specific locality (point in space), but it also plays a role outside local space. Globalization and glocalization processes come into contact on the real estate market, and they become suffused, strengthened or weakened in translocal processes. A unique interplay of local (often hyperlocal) and global elements can be observed on the real estate market. These attributes make the real estate market an excellent vantage point for studying the factors and variables that characterize the translocal market.The main aim of this study is to identify the factors that determine translocal processes on the real estate market. These factors and variables will be analyzed from the point of view of market participants. Clusters of economic, demographic, political, cybernetic and environmental factors will be defined in analyses of translocal processes in local market space. These clusters group factors and variables that define and participate in translocal processes on the real estate market. A systemic analysis of correlations with other areas that condition translocal processes will also be carried out.This research and conference expenses are funded by a grant from the Polish National Science Center, Miniatura 2 COMPETITION, No. DEC-2018/02/X/HS4/02241.

Keywords: Factors of translocal processes; Globalization processes; Glocalization processes; translocality (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-01-01
New Economics Papers: this item is included in nep-ure
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