PRIVATIZAR LAS GANANCIAS Y SOCIALIZAR EL RIESGO: LOS ESTRAGOS DEL DESARROLLO INMOBILIARIO EN EL GRAN VALPARAÍSO, CHILE

The article delves into the problem of real estate development in Valparaíso city, highlighting how the search for rent from real estate capital exacerbates the population's exposure to disaster risk. This dynamic, fueled by the ‘verticalization’ and ‘financialization’ of housing, is particularly evident in the construction of residences on the waterfront. The latter is a natural asset that is exploited through construction practices that often deviate from ethics by seeking short-term economic returns, which are then socialized by a State that assumes the costs of such social risk. The lack of regulation in territorial planning and disaster risk management allows these practices to flourish and become an source of profit. This study analyzes the particular case Valparaiso by estimating the levels of exposure to natural hazards of real estate projects developed between 2010 and 2020, using geographic information systems. Based on the above, it seeks to generate an approach of ethical-business and state responsibility in risk management, where profitability cannot be made at the expense of the safety and sustainability of communities and their environment.