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Housing Finance in Peru: What is Holding it Back?

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  • Miguel Palomino Bonilla
  • Rudy Wong Barrantes

Abstract

Housing for most Peruvians is improving but is still grossly inadequate. Nonetheless, public housing finance policies mainly involve programs that subsidize middle-income families and banks that lend to them. Research summarized in this paper indicates that financing will not be the main obstacle to improving housing conditions in Peru and that public sector efforts would be better aimed at dealing with issues where significant externalities and institutional restrictions limit market development. Thus, public sector efforts and funds could temporarily support the development of: i) cheaper construction techniques and materials, ii) lower-cost credit technologies for low-income housing credits and iii) increasing the availability of adequately enabled land for large-scale low- income housing projects.

Suggested Citation

  • Miguel Palomino Bonilla & Rudy Wong Barrantes, 2011. "Housing Finance in Peru: What is Holding it Back?," Research Department Publications 4748, Inter-American Development Bank, Research Department.
    • Handle: RePEc:idb:wpaper:4748
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    References listed on IDEAS

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    3. Alcazar, Rafael, 2009. "Mecanismos alternativos para el financiamiento hipotecario en el Perú," Revista Moneda, Banco Central de Reserva del Perú, issue 140, pages 32-35.
    4. Warnock, Veronica Cacdac & Warnock, Francis E., 2008. "Markets and housing finance," Journal of Housing Economics, Elsevier, vol. 17(3), pages 239-251, September.
    5. Morris, Felipe, 2009. "Las alternativas para el financiamiento hipotecario en el Perú," Revista Moneda, Banco Central de Reserva del Perú, issue 140, pages 27-31.
    6. Fernando A. Broner & Alberto Martin & Jaume Ventura, 2008. "Enforcement Problems and Secondary Markets," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 683-694, 04-05.
    7. Judy L. Baker, 2000. "Evaluating the Impact of Development Projects on Poverty : A Handbook for Practitioners," World Bank Publications - Books, The World Bank Group, number 13949, December.
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    10. Barco, Daniel & Iberico, Jorge & Medina, Andres, 2009. "Situación del crédito hipotecario en el Perú," Revista Moneda, Banco Central de Reserva del Perú, issue 140, pages 7-13.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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