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.
|Date of creation:||Oct 2011|
|Contact details of provider:|| Postal: 1300 New York Avenue, NW, Washington, DC 20577|
Web page: http://www.iadb.org/res
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andrés Murcia Pabón, 2007.
"Determinantes Del Acceso Al Crédito De Los Hogares Colombianos,"
Ensayos sobre Política Económica,
Banco de la Republica de Colombia, vol. 25(55), pages 40-83, Diciembre.
- Andrés Murcia Pabón, 2007. "Determinantes Del Acceso Al Crédito De Los Hogares Colombianos," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 25(55), pages 40-83, December.
- Andrés Murcia Pabón, 2007. "Determinantes Del Acceso Al Crédito De Los Hogares Colombianos," Borradores de Economia 449, Banco de la Republica de Colombia.
- Goodman, Allen C., 1988. "An econometric model of housing price, permanent income, tenure choice, and housing demand," Journal of Urban Economics, Elsevier, vol. 23(3), pages 327-353, May.
- Sergio Clavijo & Michel Janna & Santiago Munoz, 2005. "The Housing Market in Colombia: Socioeconomic and Financial Determinants," Research Department Publications 4389, Inter-American Development Bank, Research Department.
- Koizumi, Naoru & McCann, Philip, 2006. "Living on a plot of land as a tenure choice: The case of Panama," Journal of Housing Economics, Elsevier, vol. 15(4), pages 349-371, December.
- Chou, W L & Shih, Y C, 1995. "Hong Kong Housing Markets: Overview, Tenure Choice, and Housing Demand," The Journal of Real Estate Finance and Economics, Springer, vol. 10(1), pages 7-21, January.
- Rosen, Harvey S., 1979. "Housing decisions and the U.S. income tax : An econometric analysis," Journal of Public Economics, Elsevier, vol. 11(1), pages 1-23, February.
- Ricardo Rocha & Fabio Sánchez Torres & Jorge Tovar, 2007. "Informalidad del mercado de crédito para la vivienda de interés social," DOCUMENTOS CEDE 003883, UNIVERSIDAD DE LOS ANDES-CEDE.
- Ermisch, J. F. & Findlay, J. & Gibb, K., 1996. "The Price Elasticity of Housing Demand in Britain: Issues of Sample Selection," Journal of Housing Economics, Elsevier, vol. 5(1), pages 64-86, March.
- Follain, James & Lim, Gill-Chin & Renaud, Bertrand, 1980. "The demand for housing in developing countries: The case of Korea," Journal of Urban Economics, Elsevier, vol. 7(3), pages 315-336, May.
- Samuel Jaramillo, 2004. "Precios Inmobiliarios En El Mercado De Vivienda En Bogotá 1970-2004," DOCUMENTOS CEDE 003363, UNIVERSIDAD DE LOS ANDES-CEDE.
- Michael Jacobs & William D. Savedoff, 1999. "There's More Than One Way to Get a House: Housing Strategies in Panama," Research Department Publications 4156, Inter-American Development Bank, Research Department.
- Stanislav Kolenikov & Gustavo Angeles, 2009. "Socioeconomic Status Measurement With Discrete Proxy Variables: Is Principal Component Analysis A Reliable Answer?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(1), pages 128-165, 03.
- Fontenla, Matas & Gonzalez, Fidel, 2009. "Housing demand in Mexico," Journal of Housing Economics, Elsevier, vol. 18(1), pages 1-12, March.
- repec:idb:brikps:79340 is not listed on IDEAS
- Gillingham, Robert & Hagemann, Robert, 1983. "Cross-sectional estimation of a simultaneous model of tenure choice and housing services demand," Journal of Urban Economics, Elsevier, vol. 14(1), pages 16-39, July. Full references (including those not matched with items on IDEAS)