Residential transformations and real estate market trends associated with tourism activity in urban popular sectors: Ciudad Bolívar in Bogotá

Abstract

Purpose This study aims to identify the transformations of the residential landscape and trends in the popular real estate market associated with tourist activity in a low-income neighborhood in Bogotá. Design/methodology/approach The methodology was mainly qualitative, although the author analyzed some quantitative data. The author conducted three guided tourist tours in the area and systematically compared photographs taken in 2022 with satellite images in 2019 before starting the tourist activity. To analyze the real estate market, the author uses data on housing offers for sale and rent. Finally, the author conducted semi-structured interviews with tour guides, residents and other key actors in the sector. Findings This study identified some dynamics of change in the real estate market, particularly associated with an increase in housing sales and rental prices, as well as a possible effect on the increase of new informal growth processes. The author found a growing transformation of the urban and residential landscape associated with the painting of facades by the local administration and mural painting processes by community organizations. There are evident housing investment processes, some associated with verticalization and other use changes for tourism activities. It is necessary to reflect on these processes’ effects on the city’s sociospatial dynamics. Originality/value This study makes an empirical contribution to the relationship between residential real estate markets in low-income sectors and tourism activity. Although analyses of community-based tourism in popular areas have been conducted, less is known about the effects on the real estate market and the associated sociospatial transformations.