“…Housing investment by foreign nationals accounted for less than 1% in Seoul's total housing transactions in 2010, but skilled foreign nationals chose affluent parts of Seoul (Kim et al, 2015). In Chinese large cities such as Beijing, Shanghai and Guangdong, expatriate families have formed ethnic enclaves with strengthened security, high quality amenities, and foreigner-friendly retail shops mostly in gated communities (Chang and Kim, 2016, Wu and Webber, 2004, Breitung, 2012. Their weak engagement in home ownership might be attributable to lack of long-term commitments to the host city (Kim et al, 2015), lack of ethnic connections (Kim, 2017a), their risk-aversion behaviour (Conner et al, 1999), limited access to financial means such as mortgage loans, and/or lack of accumulated capital (Rogers and Koh, 2017).…”