scholarly journals SYSTEMATIC ANALYSIS OF AFFORDABLE HOUSING DEVELOPMENT AND PRICING STRUCTURE IN SHENZHEN, CHINA

2015 ◽  
Vol 19 (1) ◽  
pp. 58-65 ◽  
Author(s):  
Chun Pong SING ◽  
Peter E. D. LOVE ◽  
Wing Hong FUNG ◽  
Yun Zi HE
Keyword(s):  
Housing Policy ◽  
Affordable Housing ◽  
House Prices ◽  
Housing Prices ◽  
Housing Development ◽  
Chinese Government ◽  
Systematic Analysis ◽  
Middle Income ◽  
The Government ◽  
Low And Middle Income

As a result of urban housing reform in China, it has become increasingly difficult for low and middle income families to purchase a house. In response to the growing demand for affordable housing, the Chinese Government has developed a specific housing policy to enable families to purchase properties from the private sector. The pricing mechanism of such housing is completely based on the family affordability and the profit margin of developers. To ensure the provision of housing for low and middle-income families, the future trend of affordable housing prices has become a concern for developers, consumers and may adversely influence the implementation of the current national housing policy. In this paper a systematic analysis of affordable housing development and its pricing structure is undertaken for the city of Shenzhen. As information pertaining to the factors influencing house prices is imperfect, a Grey model, which requires a limited amount of data to reflect unknown behavior, is constructed to provide a forecast for affordable house pricing. The analysis indicates that the government should adjust their current affordable housing policy to accommodate the forecasted upward trend in house prices.

Housing Policy Across the United States

2018 ◽  
Author(s):  
Kristin M. Szylvian
Keyword(s):  
Private Sector ◽  
Housing Policy ◽  
Affordable Housing ◽  
Ronald Reagan ◽  
The United States ◽  
Urban Housing ◽  
Living Environment ◽  
National Association ◽  
Middle Income ◽  
The Government

Federal housing policy has been primarily devoted to maintaining the economic stability and profitability of the private sector real estate, household finance, and home-building and supply industries since the administration of President Franklin D. Roosevelt (1933–1945). Until the 1970s, federal policy encouraged speculative residential development in suburban areas and extended segregation by race and class. The National Association of Home Builders, the National Association of Realtors, and other allied organizations strenuously opposed federal programs seeking to assist low- and middle-income households and the homeless by forcing recalcitrant suburbs to permit the construction of open-access, affordable dwellings and encouraging the rehabilitation of urban housing. During the 1980s, President Ronald Reagan, a Republican from California, argued it was the government, not the private sector, that was responsible for the gross inequities in social and economic indicators between residents of city, inner ring, and outlying suburban communities. The civic, religious, consumer, labor, and other community-based organizations that tried to mitigate the adverse effects of the “Reagan Revolution” on the affordable housing market lacked a single coherent view or voice. Since that time, housing has become increasingly unaffordable in many metropolitan areas, and segregation by race, income, and ethnicity is on the rise once again. If the home mortgage crisis that began in 2007 is any indication, housing will continue to be a divisive political, economic, and social issue in the foreseeable future. The national housing goal of a “decent home in a suitable living environment for every American family” not only has yet to be realized, but many law makers now favor eliminating or further restricting federal commitment to its realization.

scholarly journals Factors Affecting the Housing Affordability of Homebuyers in Perak: Measuring Transport Expenditure

2021 ◽  
pp. 1-11
Author(s):  
Norhayati BAHARUN ◽  
Suraya MASROM ◽  
Afiqah ROSHIDI
Keyword(s):  
Affordable Housing ◽  
Low Cost ◽  
Housing Prices ◽  
Income Group ◽  
Housing Affordability ◽  
Middle Income ◽  
Factors Affecting ◽  
Income Groups ◽  
Low Cost Housing ◽  
The Government

Increasing housing prices in Perak has made it difficult for homebuyers to own affordable housing. Housing affordability ensures that housing provided is affordable for every income group, especially the low and middle-income groups. It has brought the government and housing developers’ attention the issue of housing affordability by supplying public low-cost housing schemes.

scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (3) ◽  
pp. 337-365
Author(s):  
Chien-Wen Peng ◽  
◽  
Jerry T. Yang ◽  
Tyler Yang ◽  
◽  
...  
Keyword(s):  
Affordable Housing ◽  
Net Present Value ◽  
House Prices ◽  
Housing Prices ◽  
Rental Housing ◽  
Housing Tenure ◽  
Price Ratio ◽  
Model Framework ◽  
Housing Tenure Choice ◽  
The Government

This paper develops a theoretical model for equilibrium rent-to-price ratios from the competition between households and investors in the housing market. Households make their housing tenure choice in terms of rent vs. buy such as minimizing the cost of occupying a housing unit. On the other hand, investors choose between investing in rental housing vs. other investment opportunities in order to maximize their net present value. In the face of limited housing inventory, households and investors bid against one another which determines the allocation of the housing units among households (owner occupied properties) and investors (rental properties). We derive the sensitivity of the equilibrium rent-to-price ratio with respect to various market parameters, and subsequently analyze their potential impacts on the homeownership rate in the community. We show that some government mortgage programs subsidize homeownership to increase the affordability of owning a house, but may also provide even more incentive to the housing investors. Unless the government can effectively control the eligibility of borrowers, such affordable mortgage programs could work against their objectives and lead to higher housing prices and lower homeownership rates. Our model framework can be used to analyze the potential impacts of some of the new affordable housing policies on house prices or homeownership rates before adopting them.

Affordable Housing in Turkey: User Satisfaction in Tokİ Houses

2011 ◽  
Vol 36 (3) ◽  
pp. 49-61
Author(s):  
Miray Gür ◽  
Neslihan Dostoğlu
Keyword(s):  
Affordable Housing ◽  
User Satisfaction ◽  
Current Status ◽  
Physical Factors ◽  
Housing Policies ◽  
Middle Income ◽  
The Public ◽  
Income Groups ◽  
The Government ◽  
Low And Middle Income

Affordable housing policies in Turkey have reached a new stage over the last decade in the context of the TOKİ model advocated by the government. Housing developed by TOKİ (the Public Housing Administration), the top official agency responsible for affordable housing policies in Turkey, has become so widespread in all cities of Turkey that it involves not only the construction sector but also trade associations and the public in general. In this article, following a general discussion of the demand and supply of housing in Turkey, we evaluate user satisfaction and the quality of TOKİ implementations since 2000 for low- and middle-income groups in Bursa, the fourth largest city in Turkey. Bursa sets an interesting example for the study because of the city's long-term prominence in commerce and its current status as an important industrial city. Massive migrations and unplanned urbanization have resulted in a need for housing for every income group in Bursa, especially for low- and middle-income groups. The emphasis in this study is that, in addition to quantity, quality should be considered in housing production. Furthermore, the implementation of TOKİ should be aimed at developing more habitable and higher-quality environments by considering all socio-cultural and physical factors. It is expected that these evaluations will lead to the development of a more comprehensive affordable housing policy in Turkey..

THE LOW-MIDDLE INCOME HOUSING CHALLENGES IN MALAYSIA

2020 ◽  
Vol 18 (11) ◽  
Author(s):  
Ernawati Mustafa Kamal ◽  
Kong Seng Lai ◽  
Nor Aini Yusof
Keyword(s):  
Housing Policy ◽  
State Government ◽  
Affordable Housing ◽  
Public Awareness ◽  
Income Group ◽  
Middle Income ◽  
Human Needs ◽  
Urban Rural ◽  
One Stop ◽  
Group Interviews

Homeownership is recognised as one of human needs. However, in the 21st century, homeownership remained as one of the greatest challenges in most developing countries, and Malaysia is no exception. Housing for everyone remained an issue in Malaysia. Homeownership for the low to medium income group (LMIG) is getting difficult overtime. Questions raised on the competency of the existing housing policy in catering the uprising needs to house the LMIG. This study aims to explore the challenges within the housing policy and its implementation, and to identify ways to overcome those challenges. Opinions from four major stakeholders in the housing sector; the federal government, the state government, non-governmental organisations, and academicians were solicit using focus group interviews protocol. The results point-out three major concerns- 1) loose connection between the federal and state government, 2) mismatched of housing policy, and 3) inadequacy of financial system and poor demographic profile. Subsequently, four alternatives were proposed to address the issues raised- 1) one-stop center that operates above the differences between the governments, 2) establishes the social infrastructures before Affordable Housing in sub-urban/rural area is approved, 3) government’s active interventions on affordable house pricing, and 4) public awareness on homeownership through education.

scholarly journals Education, Work, and Motherhood in Low and Middle Income Countries: A Review of Equality Challenges and Opportunities for Women with Disabilities

2018 ◽  
Vol 6 (1) ◽  
pp. 82-93 ◽  
Author(s):  
Belaynesh Tefera ◽  
Marloes L. Van Engen ◽  
Alice Schippers ◽  
Arne H. Eide ◽  
Amber Kersten ◽  
...  
Keyword(s):  
Cultural Practices ◽  
Women With Disabilities ◽  
Middle Income ◽  
Governmental Organization ◽  
Middle Income Countries ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
Challenges And Opportunities ◽  
The Government ◽  
Low And Middle Income

This study looks at the equality challenges and opportunities for women with disabilities in low and middle income countries (LMICs) to participate and succeed in education, employment and motherhood. It is based on a systematic review of the literature from academic and non-governmental organization databases. The search of these databases yielded 24 articles, which were subsequently passed through open, axial, and selective coding. The resulting review found that women with disabilities in LMICs have severe difficulty participating and succeeding in education, employment and motherhood due to a number of interrelated factors: (i) hampered access to education, employment, intimacy and marriage, (ii) stigma and cultural practices resulting in discrimination and prejudice, and (iii) lack of support from family, teachers and institutions—all of which are exacerbated by poverty. Support from families, communities, the government, and non-governmental organizations improves women’s ability to fulfil their social roles (as students, employees and mothers), resulting in a better quality of life. Strategies that create awareness, minimize poverty and facilitate justice may improve the opportunities for women with disabilities in LMICs to participate in education, employment and motherhood, as well as their ability to succeed in these domains.

Young adults and homeownership in Jakarta, Indonesia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rotimi Boluwatife Abidoye ◽  
Gitta Puspitasari ◽  
Riza Sunindijo ◽  
Michael Adabre
Keyword(s):  
Young Adults ◽  
Affordable Housing ◽  
Descriptive Analysis ◽  
Housing Prices ◽  
Policy Formulation ◽  
Capital City ◽  
Content Type ◽  
The Social ◽  
The Government ◽  
Lending Institutions

Purpose Homeownership, especially for young adults, is a significant challenge in nearly every country and Indonesia, the fourth most populous country in the world, is not exempted. Its capital city, Jakarta, has the lowest homeownership rate when compared with other cities and if this challenge remains unresolved, it could lead to more social and economic issues in the country. Hence, this study aims to investigate the homeownership of young adults in Jakarta, focussing on young adults’ opinions, perceptions and experiences regarding homeownership opportunities. Design/methodology/approach A questionnaire survey was conducted to collect data from young adults in the study area. The collected data were analysed using the statistical package for the social sciences 24.0 software. Descriptive analysis, Cronbach’s alpha test, Pearson’s correlation test and mean score ranking were adopted to analyse the collected data. Findings The result shows that homeownership is driven by factors that are more functional and realistic (in terms of a place to live, marriage and parenthood) rather than those related to pride or social status representation (as a personal or career accomplishment). Unaffordability and insufficient income were ranked as crucial barriers to homeownership. Increasing the supply of affordable housing, controlling housing prices through government’s intervention and reducing mortgage interests are potential solutions to address this issue. Practical implications The result of this research would be useful to young adults who are the participants of this study, property developers, lending institutions and the government concerning homeownership policy formulation, loan provision, affordable housing supply, etc. Originality/value Specific studies that focussed on the young adults’ homeownership in Jakarta, Indonesia is limited, therefore, this research provides an insight into the issue of young adults’ homeownership in the country. Also, the findings could be applicable in other developing countries that have similar characteristics to Indonesia.

scholarly journals HOUSING POLICIES IN SINGAPORE: EVALUATION OF RECENT PROPOSALS AND RECOMMENDATIONS FOR REFORM

2014 ◽  
Vol 59 (03) ◽  
pp. 1450025 ◽  
Author(s):  
SOCK-YONG PHANG ◽  
DAVID LEE ◽  
ALAN CHEONG ◽  
KOK-FAI PHOON ◽  
KAROL WEE
Keyword(s):  
Housing Market ◽  
House Prices ◽  
Supply And Demand ◽  
Housing Prices ◽  
Housing Affordability ◽  
Property Taxes ◽  
Housing Supply ◽  
Housing Policies ◽  
Global Liquidity ◽  
The Government

The Singapore housing market is unusual in its high homeownership rate, the dominance of HDB housing, and the extensive intervention of the government in regulating housing supply and demand in both the HDB and private housing sectors. Recent rapid population increases in a low interest rate and high global liquidity environment has resulted in accelerated house prices increases in Singapore. Earlier this year, the government launched "Our Singapore Conversation" of which discussion on housing policies constitutes one major component. This "conversation" comes in the wake of several consecutive rounds of measures to stabilize housing prices using various instruments. This paper evaluates the main policy changes proposed and makes recommendations for housing market reforms: (i) the government need to clarify goals of housing policies and make available more detailed data on the foreign component of our population for better analysis of housing markets; (ii) the housing supply regime should target an overall effective vacancy rate that encompasses both the Housing and Development Board (HDB) and private sector; (iii) policy makers need to monitor carefully excess demand indicators for housing in addition to housing affordability indicators over the entire spectrum of incomes and household types; (iv) housing REITs should be established to provide an alternative investment option as well as to develop an efficient and affordable rental sector; and (v) in addition to macroprudential measures, owner-occupancy requirements and fiscal measures such as stamp duties and property taxes could be further utilized to reduce the foreign demand for Singapore housing and real estate.

scholarly journals Access to Affordable Houses for the Low-Income Urban Dwellers in Kigali: Analysis Based on Sale Prices

Land ◽  
2020 ◽  
Vol 9 (3) ◽  
pp. 85 ◽  
Author(s):  
Ernest Uwayezu ◽  
Walter T. de Vries
Keyword(s):  
Real Estate ◽  
Low Income ◽  
Housing Prices ◽  
Construction Materials ◽  
Housing Affordability ◽  
Housing Development ◽  
Bank Loan ◽  
Real Estate Developers ◽  
The Government ◽  
Housing Units

The government of Rwanda recently passed housing development regulations and funding schemes which aim at promoting access to affordable houses for the low- and middle-income Kigali city inhabitants. The existing studies on housing affordability in this city did not yet discuss whether this government-supported programme is likely to promote access to housing for these target beneficiaries. This study applies the price-to-income ratio (PIR) approach and the 30-percent of household income standard through the bank loan to assess whether housing units developed in the framework of affordable housing schemes are, for the target recipients, affordable at all. It relies mainly on housing prices schemes held by real estate developers, data on households’ incomes collected through the household survey and a review of the existing studies and socio-economic censuses reports. Findings reveal that the developed housing units are seriously and severely unaffordable for most of the target beneficiaries, especially the lowest-income urban dwellers, due to the high costs of housing development, combined with the high profits expected by real estate developers. The study suggests policy and practical options for promoting inclusive urban (re)development and housing affordability for various categories of Kigali city inhabitants. These options include upgrading the existing informal settlements, combined with their conversion into shared apartments through the collaboration between property owners and real estate developers, the development of affordable rental housing for the low-income tenants, tax exemption on construction materials, progressive housing ownership through a rent-to-own approach, and incremental self-help housing development using the low-cost local materials.

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