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GentrificationUsed by the first time from Ruth Glass in 1964 to define the entry of the middle class in working class neighbourhood in London.
Because gentrification happens 4 factors are requested to happen simultaneously:
1) Morphological reorganization or the city with the substitution of a social group with another in the city center or close to;
2) A spatial grouping of individuals with similar lifestyles and cultural features or with similar consumption bias at least;
3) A trasformation of the built environment, with the arising of new services and a residential requalification
4) A changement in the estate asset that determines a rise of the land price and an increasing of homeownership.
How gentrification starts?
• Specific characteristics of a neighbourhood (position, household composition, connections, low rents…)
• Gentrifiers start to move in these neighbourhood alongside with their lifestyle (consumption habits, needs, practices, activities…)
• Commercial activities promoting different products, different styles and addressing different customers compared the former ones
• Rise of the land value, housing value and commercial shop values attraction for investiment
• Second phase of gentrification: real estate investors, policies….