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El mercado colombiano de la vivienda: factores socioeconómicos y financieros determinantes

  • Sergio Clavijo
  • Michel Janna
  • Santiago Munoz
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    (Disponible en idioma inglés únicamente) Este documento proporciona una panorámica general del sistema de vivienda de Colombia, analiza sus factores socioeconómicos y financieros determinantes, y presenta recomendaciones tendientes a mejorar la recopilación de datos básicos sobre el sector de la construcción, las condiciones socioeconómicas de los hogares y los mercados hipotecarios. También se calcula un modelo econométrico simultáneo del mercado de la vivienda del país, empleando datos trimestrales durante el período de 1991 a 2004. Por el lado de la demanda, hallamos que el campo de aprobación de permisos responde con considerable elasticidad al ingreso disponible, los precios de las viviendas nuevas y las tasas reales de interés de los préstamos hipotecarios. Por el lado de la oferta, hallamos una elevada elasticidad de los costos de los insumos, así como una respuesta moderada a los efectos de la riqueza. Estos resultados resultan valederos con variables y procedimientos de estimación distintos.

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    File URL: http://www.iadb.org/research/pub_hits.cfm?pub_id=WP-522&pub_file_name=pubWP-522.pdf
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    Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4390.

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    Date of creation: Jan 2005
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    Handle: RePEc:idb:wpaper:4390
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    1. Fernando Tenjo & Enrique Lopez, 2003. "Credit bubble and stagnation in Colombia, 1990-2001," Colombian Economic Journal, Academia Colombiana de Ciencias Economicas, Colegio Mayor de Nuestra Senora del Rosario, Pontificia Universidad Javeriana, Universidad de Antioquia, Universidad de los Andes, Universidad del Valle, Universidad Externado de Colombia, Universidad Nacional de Colombia, vol. 1(1), pages 151-191, December.
    2. Alejandro Badel & Mauricio Cárdenas, 2003. "La crisis de financiamiento hipotecario en Colombia: causas y consecuencias," IDB Publications (Working Papers) 7642, Inter-American Development Bank.
    3. Caplin, Andrew & Freeman, Charles & Tracy, Joseph, 1997. "Collateral Damage: Refinancing Constraints and Regional Recessions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(4), pages 496-516, November.
    4. Muellbauer, J & Murphy, A, 1996. "Booms and Busts in the UK Housing Market," Economics Papers 125, Economics Group, Nuffield College, University of Oxford.
    5. Arcelus, Francisco & Meltzer, Allan H, 1973. "The Markets for Housing and Housing Services: Reply," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(4), pages 973-78, November.
    6. Karl E. Case, 2000. "Real Estate and Macroeconomy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(2), pages 119-162.
    7. Arcelus, Francisco & Meltzer, Allan H, 1973. "The Markets for Housing and Housing Services," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 78-99, Part I Fe.
    8. Joshua Gallin, 2003. "The long-run relationship between house prices and income: evidence from local housing markets," Finance and Economics Discussion Series 2003-17, Board of Governors of the Federal Reserve System (U.S.).
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