Housing Tenure and Housing Demand in Colombia

Using the 2003 and 2008 Quality of Life Surveys, this paper identifies the factors that affect housing tenure decisions in Colombia. Households with higher incomes are more likely to purchase than to rent, and the choice of formal housing is positively associated with wealth.

Households eligible for social housing subsidies are more likely to purchase than to rent, and those working in the informal sector are more likely to purchase informal dwellings. Subsidies and access to mortgage credit have a large positive impact on demand. Finally, savings have a positive effect on demand in 2008, but not in 2003. The positive effect on demand of both subsidies and credit is explained by demand for low- income housing.

Code: IDB-WP-259.Author (s):Arbelaez, Maria Angelica,Becerra, Alejandro Steiner,Roberto Wills, Daniel.Published: October 2011

Housing Tenure and Housing Demand in Colombia

Housing Markets in Uruguay: Determinants of Housing Demand and its Interaction with Public Policies

This paper analyzes the determinants of housing demand for Uruguay and the extent to which housing policies have an impact on their target population. The paper first analyzes the determinants of housing demand, following an approach based on Rosen’s (1974) two-step procedure consisting of fitting a hedonic price regression in 34 different geographical units (or markets) to estimate a housing demand function.

The determinants of formality and ownership choices were examined using a multinomial logit framework. Determinants of these choices include both household demographic attributes and access to and use of public housing programs and other social programs. Policy recommendations are offered on the basis of the finding that a price and income-inelastic formal housing market greatly contrasts with a rather price and income-elastic informal housing market.

Code: IDB-WP-258. Author (s): Garabato, Natalia y Ramada-Sarasola, Magdalena.Published: October 2011

Housing Markets in Uruguay: Determinants of Housing Demand and its Interaction with Public Policies

Housing Demand in Brazil: Evidence from the Formal and Informal Sectors

This paper describes the determinants of housing demand in Brazil, with the intention of informing policy aimed at reducing the housing deficit and increasing home ownership. As price elasticity for renters is slightly higher, public policies that aim to influence the price of dwellings and/or the income of households are expected to affect renters more than owners.

Given that rent is a pro-cyclical variable and that housing-price supply elasticity tends to be low, a social housing policy focused on the rental market might be an effective option, at least in the short run, to satisfy the increasing housing demand observed in Brazil.

Code:IDB-WP-261.Author(s):Balderrama,Fernando.Litchfield,Julie.Piza.Caio.Published:October 2011.Language: English. Piza, Caio. Housing demand in Brazil : Evidence from the formal and informal sectors / Caio Piza, Julie Litchfield, Fernando Balderrama.p. cm. (IDB working paper series ; 261). Includes bibliographical references. 1. Housing—Brazil—Case studies. 2. Housing policy—Brazil—Case studies. 3. Housing—Brazil—Finance —Case studies. I. Litchfield, J. A. II. Balderrama, Fernando. III. Inter-American Development Bank. Research Dept. IV. Title. V. Series.

Housing Demand in Brazil: Evidence from the Formal and Informal Sectors