Abstract
This study examines how rising housing prices are associated with perceptions of gentrification across three global cities (New York, London, and Tokyo) by linking micro-scale housing transaction data with an original online survey conducted in 2021. Using logistic regression, we assess how current housing prices and ten-year price growth relate to awareness of the rising housing price problem, perceived displacement and neighborhood trust. The results reveal a pronounced East–West divide: while over 70% of respondents in New York and London view price inflation as a serious concern, such anxiety is less prevalent in Tokyo. Affordability and displacement concerns are more pronounced in high-price areas only in New York, show weaker associations in London, and are largely absent in Tokyo. In contrast, neighborhood trust tends to rise with housing prices in all three cities, suggesting that economically stable areas may foster stronger social ties. Overall, the findings indicate that objective indicators of gentrification, such as price levels and growth, do not consistently predict subjective perceptions, which are instead shaped by institutional and cultural contexts. These results underscore the importance of tailoring housing and urban policies to local conditions in an era of global urban transformation.
https://ror.org/00bmxak18 
