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Housing Tenure and Housing Demand in Colombia

Author

Listed:
  • Maria Angelica Arbelaez
  • Roberto Steiner
  • Alejandro Becerra
  • Daniel Wills

Abstract

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.

Suggested Citation

  • Maria Angelica Arbelaez & Roberto Steiner & Alejandro Becerra & Daniel Wills, 2011. "Housing Tenure and Housing Demand in Colombia," Research Department Publications 4736, Inter-American Development Bank, Research Department.
  • Handle: RePEc:idb:wpaper:4736
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    References listed on IDEAS

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    1. Malpezzi, Stephen, 1999. "Economic analysis of housing markets in developing and transition economies," Handbook of Regional and Urban Economics,in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 44, pages 1791-1864 Elsevier.
    2. Michael Jacobs & William D. Savedoff, 1999. "There's More Than One Way to Get a House: Housing Strategies in Panama," IDB Publications (Working Papers) 1890, Inter-American Development Bank.
    3. Andrés Murcia Pabón, 2007. "Determinantes Del Acceso Al Crédito De Los Hogares Colombianos," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 25(55), pages 40-83, December.
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    Cited by:

    1. Luis Galvis & Bladimir Carrillo, 2013. "Índice de precios espacial para la vivienda urbana en Colombia: una aplicación con métodos de emparejamiento," REVISTA DE ECONOMÍA DEL ROSARIO, UNIVERSIDAD DEL ROSARIO, June.
    2. repec:eee:deveco:v:134:y:2018:i:c:p:289-309 is not listed on IDEAS
    3. Natalia Salazar & Roberto Steiner & Alejandro Becerra & Jaime Ramírez, 2013. "Los efectos del precio del suelo sobre el precio de la vivienda para Colombia," Revista ESPE - ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 31(70), pages 18-66, July.
    4. Jessica Castaño & Mariana Laverde & Miguel Ángel Morales Mosquera & Ana María Yaruro, 2013. "Índice de Precios de la Vivienda Nueva para Bogotá: Metodología de Precios Hedónicos," Temas de Estabilidad Financiera 078, Banco de la Republica de Colombia.
    5. repec:col:000452:016323 is not listed on IDEAS

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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