Search results for: affordable housing finance

Authors: Silvija ŠIljeg, Ante ŠIljeg, Ivan Marić

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Measuring housing quality is being done on objective and subjective level using different indicators. During the research 5 urban and housing indicators formed according to 58 variables from different housing, domains were used. The aims of the research were to measure housing quality based on GIS approach and to detect critical points of housing in the example of Croatian coastal Town Zadar. The purposes of GIS in the research are to generate models of housing quality indexes by standardisation and aggregation of variables and to examine accuracy model of housing quality index. Analysis of accuracy has been done on the example of variable referring to educational objects availability. By defining weighted coefficients and using different GIS methods high, middle and low housing quality zones were determined. Obtained results can be of use to town planners, spatial planners and town authorities in the process of generating decisions, guidelines, and spatial interventions.

Keywords: housing quality, GIS, housing quality index, indicators, models of housing quality

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Authors: So-Young Lee, Myoung-Won Oh, Soon-Cheol Eom, Yeon-Won Suh

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Buildings produce more than one thirds of the total energy consumption and CO₂ emissions. Korean government agency pronounced and initiated Zero Energy Buildings policy for construction as of 2025. The net zero energy design features include passive (daylight, layout, materials, insulation, finishes, etc.) and active (renewable energy sources) elements. The Zero Energy House recently built in Nowon-gu, Korea is provided for 121 households as a public rental housing complex. However most of public rental housing did not include sustainable features which can reduce housing maintaining cost significantly including energy cost. It is necessary to implement net zero design features to the obsolete public rental housing during the remodeling procedure since it can reduce housing cost in long term. The purpose of this study is to investigate sustainable design elements implemented in Net Zero Energy House in Korea and passive and active housing design features in order to apply the sustainable features to the case public rental apartment for remodeling. Housing complex cases in this study are Nowan zero Energy house, Gangnam Bogemjari House, and public rental housings built in more than 20 years in Seoul areas. As results, energy consumption in public rental housing built in 5-years can be improved by exterior surfaces. Energy optimizing in case housing built in more than 20 years can be enhanced by renovated materials, insulation, replacement of windows, exterior finishes, lightings, gardening, water, renewable energy installation, Green IT except for sunlight and layout of buildings. Further life costing analysis is needed for energy optimizing for case housing alternatives.

Keywords: affordable housing, remodeling, sustainable design, zero-energy house

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Authors: M. Bukowski, K. Kreissl

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Social and environmental pressures in our times bear threats that often cross-border in scale, such as climate change, poverty-driven migration, demographic change as well as socio-economic developments. One of the hot topics is prevailing in many societies across Europe and worldwide, concerns 'affordable housing' and poverty-driven international and domestic migration (including displacements through gentrification processes), focusing here on the urban and regional context. The right to adequate housing and shelter is one of the recognized in the Universal Declaration of Human rights and International Covenant on Economic, Social and Cultural Rights, and as such considered as a human right of the second generation. The decreasing supply of affordable housing, especially in urban areas, has reached dimensions that have led to an increasing 'housing crisis'. This crisis, which has even reached middle-income homes, has an even more devastating impact on low income and poor households raising poverty levels. Therefore, the understanding of the connection between housing and poverty is vital to integrate and support the different stakeholders in order to tackle poverty. When it comes to issues of inequalities and poverty within the SDG framework, multi-faceted stakeholders with different claims, distribution of resources and interactions with other development goals (spill-over and trade-offs) account for a highly complex context. To contribute to a sustainable and fair society and hence to support the UN Sustainable Development Goals, the University of Salzburg participates in the Austrian-wide universities' network 'UniNEtZ'. Our joint target is to develop an options report for the Austrian Government regarding the seventeen SDGs, so far hosted by 18 Austrian universities. In this vein, the University of Salzburg; i.e., the Centre for Ethics and Poverty Research, the departments of Geography and Geology and the Department of Sociology and Political Science are focusing on the SDG 1 (No Poverty) and SDG 10 (Reduced Inequalities). Our target and research focus is to assess and evaluate the status of SDG 1 and 10 in Austria, to find possible solutions and to support stakeholders' integration. We aim at generating and deducing appropriate options as scientific support, from interdisciplinary research studies to 'Sustainability Developing Goals and their Targets' in action. For this reason, and to deal with the complexity of the Agenda 2030, we have developed a special Model for Inequalities and Poverty Assessment (IPAM). Through the example of 'affordable housing' we provide insight into the situation focusing on sustainable outcomes, including ethical and justice perceptions. The IPAM has proven to be a helpful tool in detecting the different imponderables on the Agenda 2030, assessing the situation, showing gaps and options for ethical SDG actions combining different SDG targets. Supported by expert and expert group interviews, this assessment allows different stakeholders to overview a complex and dynamic SDG challenge (here housing) which is necessary to be involved in an action finding process.

Keywords: affordable housing, inequality, poverty, sustainable development goals

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Authors: Stefanie Jeanette Huber

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This paper explores the relevance and implications of preferences for housing services on house price fluctuations through the lens of an overlapping generation’s model. The model implies that an economy whose agents have lower preferences for housing services is characterized with lower expenditure shares on housing services and will tend to experience more frequent and more volatile housing bubbles. These model predictions are tested empirically in the companion paper Housing Booms and Busts - Convergences and Divergences across OECD countries. Between 1970 - 2013, countries who spend less on housing services as a share of total income experienced significantly more housing cycles and the associated housing boom-bust cycles were more violent. Finally, the model is used to study the impact of rental subsidies and help-to-buy schemes on rational housing bubbles. Rental subsidies are found to contribute to the control of housing bubbles, whereas help-to- buy scheme makes the economy more bubble-prone.

Keywords: housing bubbles, housing booms and busts, preference for housing services, expenditure shares for housing services, rental and purchase subsidies

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Authors: A. M. Jungudo, M. A. Lasan

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Affordable housing has long been one of the basic necessities of life to man. The ever rising prices of building materials are one of the major causes of housing shortage in many developing countries. Breaching the gap of housing needs in developing countries like Nigeria is an awaiting task longing for attention. This is due to lack of research in the development of local materials that will suit the troubled economies of these countries. The use of earth material to meet the housing needs is a sustainable option and its material is freely available universally. However, people are doubtful of using the earth material due to its modest outlook and uncertain durability. This research aims at enhancing the durability of Compressed Earth Bricks (CEBs) using stone dust as a stabilizer. The result indicates that partial replacement of lateritic soil with stone dust at 30% improves its compressive strength along with abrasive resistance.

Keywords: earth construction, durability, stone dust, sustainable

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Authors: Ahmet Sekreter

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Although there are conceptual similarities in terms of financial products between conventional and Islamic finance, they are entirely different financial systems. Despite Islamic finance’s small size in the conventional finance world, its promising growth makes Islamic finance a hot topic both in academia and business world. Today customers can access sophisticated Islamic financial products not only in Muslim countries but also in Europe. This study analyzes Islamic finance and its products and includes a brief overview of Islamic finance in Europe. Literature review is the basis of this paper. The author analyzed the academic papers, numerical data, and estimations to set a perspective for the future of Islamic finance in Europe. Findings show that UK is the main hub for the Islamic finance, and it will remain so in the near future.

Keywords: islamic finance, islamic banking, islamic finance in Europe, finance

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Authors: Tony Rizk

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Recent material advances and cost efficiencies are transforming the housing industry away from traditional lumber and gypsum material to alternate fiberboard material that is workable and resistant to fire, mold, and pest infestation. The use of these materials may add to the initial cost of construction. However, the life cycle (cradle to grave) cost of houses using these construction materials and methods are lower than the life cycle costs using traditional housing construction materials and methods. This paper will present four (4) case studies of sustainable house projects. Each project was designed and constructed using earthen-based, sustainable fiberboard material that is resistant to fire, mold, and infestation and fabricated at a very low material calorific value. These house projects have a living space ranging from 625 sq. ft. for an accessory dwelling unit and up to 3,200 sq. ft. 1-story and 2-story homes. For each case study, we will present the house engineering design and construction method, the initial construction costs, a summary of the life cycle costs, and a comparison to the life cycle cost of traditional housing available in the literature.

Keywords: residential housing, sustainable housing, life cycle cost, fire resistance, mold, infestation resistance

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Authors: Abdul Aziz Abdullah, Anuar Alias, Khor Hooi Ting, Guan Ngah Mei

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One of the major sectors which contribute significant growth to socio-economic development is the construction and development industry. This industry is most badly hurt during the 1997 and 2008 economic crisis thus causing many government and private projects to be deferred and abandoned. The purpose of this study is to examine the causes and effects of housing project abandonment in Malaysia. This objective is achieved through rigorous review of literatures and documents related to housing and abandoned housing project. The finding revealed there are several causes of housing project abandonment. The significant causes are: economic recession, inadequacy of finance, poor marketing and sales strategies, technical problems faced during construction, problems caused by compensations demanded by squatters for resettlement, insolvency of contractor, cost overrun and currency fluctuation amongst others. However the alarming effect of housing project is: house buyers of abandoned project have the monthly payment although the house is delivered to house buy. In other case house buyers have to entangle in many legal action with the financial institution. This finding provides the various ministries in the Government some insights on real causes and effects of abandoned project. Perhaps this finding can enhance the current solution the Ministry of Housing Local Government on addressing the prevailing issue of reviving existing abandoned project in the country.

Keywords: abandoned project, abandonment, housing project, ministry of housing and local government, causes and effect

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Authors: Gözde Arzu Sarıcan

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Contemporary urbanization processes and spatial transformations are intensely debated across various fields of social sciences. One prominent concept in these discussions is "common spaces." Common spaces offer a critical theoretical framework, particularly for addressing the social and economic inequalities brought about by urbanization. This study examines the processes of commoning and their impacts through the lens of squatter neighborhoods in Turkey, emphasizing the importance of affordable housing. It focuses on the role and significance of these neighborhoods in the formation of common spaces, analyzing the collective actions and resistance strategies of residents. This process, which began with the construction of shelters to meet the shelter needs of low-income households migrating from rural to urban areas, has turned into low-quality squatter settlements over time. For low-income households lacking the economic power to rent or buy homes in the city, these areas provided an affordable housing solution. Squatter neighborhoods reflect the efforts of local communities to protect and develop their communal living spaces through collective actions and resistance strategies. This collective creation process involves the appropriation of occupied land as a common resource through the rules established by the commons. Organized occupations subdivide these lands, shaped through collective creation processes. For the squatter communities striving for economic and social adaptation, these areas serve as buffer zones for urban integration. In squatter neighborhoods, bonds of friendship, kinship, and compatriotism are strong, playing a significant role in the creation and dissemination of collective knowledge. Squatter areas can be described as common spaces that emerge out of necessity for low-income and marginalized groups. The design and construction of housing in squatter neighborhoods are shaped by the collective participation and skills of the residents. Streets are formed through collective decision-making and labor. Over time, the demands for housing are communicated to local authorities, enhancing the potential for commoning. Common spaces are shaped by collective needs and demands, appropriated, and transformed into potential new spaces. Common spaces are continually redefined and recreated. In this context, affordable housing becomes an essential aspect of these common spaces, providing a foundation for social and economic stability. This study evaluates the processes of commoning and their effects through the lens of squatter neighborhoods in Turkey. Communities living in squatter neighborhoods have managed to create and protect communal living spaces, especially in situations where official authorities have been inadequate. Common spaces are built on values such as solidarity, cooperation, and collective resistance. In urban planning and policy development processes, it is crucial to consider the concept of common spaces. Policies that support the collective efforts and resistance strategies of communities can contribute to more just and sustainable living conditions in urban areas. In this context, the concept of common spaces is considered an important tool in the fight against urban inequalities and in the expression and defense mechanisms of communities. By emphasizing the importance of affordable housing within these spaces, this study highlights the critical role of common spaces in addressing urban social and economic challenges.

Keywords: affordable housing, common space, squating process, turkey

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Authors: Odunjo Oluronke Omolola, Okanlawon Simon Ayorinde

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This study examines the relationship between house characteristics and socio-economic characteristics of developers in Ibadan, southwest, Nigeria. The research is borne out of the fact that social housing has not done much as a result of finance and housing poverty is on the increase in the country. Multistage random sampling was used in selecting 2,646 respondents in the area. The questionnaire forms the basic instrument for data collection and was administered to heads of households to collect information on socio-economic and demographic characteristics as well as characteristics of development. Both descriptive and inferential statistical analyses were employed in the presentation of the findings; MANOVA was used to analyse the relationship between house characteristics measured by wall materials (Y1-Yn) and socio-economic characteristics of developers measured by gender (X1), religion (X2), educational background (X3) and employment status (X4).The study found out that the bulk of the respondents (65.7%) were male, while 51.7% practiced Christianity. Also, 35.9% had HND/1st/Postgraduate degree, while 43.9% were self employed; Most households however, had membership size of 5 (26.9%). The significant wall material in the area was sandcrete block (71.2%) as opposed to mud (19.1%) and brick (0.6%). Multiple Analysis of Variance shows that there is a significant relationship between sandcrete block and each of gender (X1) and employment status (X3). The factor adduced to this is accessibility to cooperative societies which serve as the gravitational force of attraction for housing finance. The study suggests among others that, there should be re-invigoration of existing cooperative societies, while more should be established for the provision of housing finance.

Keywords: relationship, house development, developers, sandcrete block, cooperative societies

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Authors: Hana Janáčková

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Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.

Keywords: housing, housing market, microeconomic consequences, deformation

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Authors: Jubril Olatunbosun Akinde

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Unplanned population growth are mostly attributed to a lack of infrastructural facilities and poor economic condition in the rural dwellings and the incidence of rural-urban migration, which has resulted in severe housing deficiency in the urban centre, with a resultant pressure on housing delivery in the cities. Affordable housing does not only encompass environmental factors that make living acceptable and comfortable, which include good access routes, ventilation, sanitation and access to other basic human needs, which include water and safety. The research assessed the housing affordability and safety measures in the varied residential area of lagos by examining the demographic and socioeconomic attributes of residents; examining the existing residential safety measures; by examining the residential quality in terms of safety; the researcher therefore examined if relationship between housing affordability and safety in the varied residential areas. The research adopted the bartlett, kotrlik and higgins (2001) method of t-test to determine the sample size which specifies different populations at different levels of significance (α). The researcher adopted primary data which was sourced from a field survey where the sample population was simply randomly selected to give a member of the population an equal chance of being selected, therefore, the sample size for the field survey was two hundred (200) respondents, and subjected to necessary testing. The research come to conclusion that housing safety and security is the responsibility of every resident, the landlords/landladies possess a better sense of security in their neighbourhood than renters in the community, therefore they need to be aware of their responsibility of ensuring the safety of lives and property.

Keywords: housing, housing affordability, housing security, residential, residential quality

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Authors: Edmund M. Muthigani

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Background: Adequate, decent housing is a universal human right integral component. Resources’ costs and intensified rural-urban migration have increased the demand for affordable housing in urban areas. Modern knowledge-based economy uses innovation. The construction industry uses product and process innovation to provide adequate and decent low-cost housing. Kenya adopted innovation practices in slum upgrading that used cost-effectively locally available building materials. This study objectively looked at the outcomes, social and economic impacts of innovative housing technologies construction in the Mathare valley slums upgrading project. Methods: This post-occupancy study used an exploratory-descriptive research design. Random sampling was used to sample 384 users of low-cost housing projects in Mathare Valley, Nairobi County. Research instruments included semi-structured questionnaires and interview guides. Pilot study, validity and reliability tests ensured the quality of a study. Ethical considerations included university approval and consent. Statistical package for social sciences (SPSS) software version 21 was applied to compute the descriptive and inferential statistics. Findings: Slum-upgrading had a significant-positive outcome on improved houses and community. Social impacts included communal facilities, assurance of security of tenure, and retained frameworks of establishments. Economic impacts included employment; affordable and durable units (p values <0.05). The upgrading process didn’t influence rent fees, was corrupt and led to the displacement of residents. Conclusion: Slum upgrading process impacted positively. Similar projects should consider residents in decision-making.

Keywords: innovation, technologies, slum upgrading, Mathare valley slum, social impact, economic impact

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Authors: Mohammad Rahim Rahnama

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Market-transaction price for housing is the main criteria for determining municipality taxes and is determined and announced on an annual basis. Of course, there is a discrepancy between the actual value of transactions in the Bureau of Finance (P for short) or municipality (P´ for short) and the real price on the market (P˝). The present research aims to determine the real price of housing in the metropolis of Mashhad and to pinpoint the price gap with those of the aforementioned apparatuses and identify the factors affecting it. In order to reach this practical objective, Automatic Linear Modeling, which calls for an explanatory research, was utilized. The population of the research consisted of all the residential units in Mashhad, from which 317 residential units were randomly selected. Through cluster sampling, out of the 170 income blocks defined by the municipality, three blocks form high-income (Kosar), middle-income (Elahieh), and low-income (Seyyedi) strata were surveyed using questionnaires during February and March of 2015 and the information regarding the price and specifications of residential units were gathered. In order to estimate the effect of various factors on the price, the relationship between independent variables (8 variables) and the dependent variable of the housing price was calculated using Automatic Linear Modeling in SPSS. The results revealed that the average for housing price index is 788$ per square meter, compared to the Bureau of Finance’s prices which is 10$ and that of municipality’s which is 378$. Correlation coefficient among dependent and independent variables was calculated to be R²=0.81. Out of the eight initial variables, three were omitted. The most influential factor affecting the housing prices is the quality of Quality of construction (Ordinary, Full, Luxury). The least important factor influencing the housing prices is the variable of number of sides. The price gap between low-income (Seyyedi) and middle-income (Elahieh) districts was not confirmed via One-Way ANOVA but their gap with the high-income district (Kosar) was confirmed. It is suggested that city be divided into two low-income and high-income sections, as opposed three, in terms of housing prices.

Keywords: automatic linear modeling, housing prices, Mashhad, Iran

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Authors: Poorva Kulkarni

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Developing countries are having significant additions to existing population of urban areas with loads of migrants from rural areas. There is a tremendous need to provide accommodation facility to cater to rapidly growing urban population. This leads to unprecedented growth in urban areas since the temporary shelters are constructed with any available material. Architecture in a broader sense serves to humanity in terms of making life of people happy and comfortable by providing comfortable shelters. It is also the need of the time for an architect to be extremely sensitive towards nature by providing design solution of human shelters with minimum impact on the environment. The sensitive approach towards designing of housing units and provision of comfortable and affordable housing units should go hand in hand for future growth of developing countries. Steel has proved itself a versatile material in terms of strength, uniformity and ease of operation and many such other advantages. Steel can be used as the most promising material for modern construction practices. The current research paper focuses on how effectively steel can be used probably in combination with other construction material to achieve the mentioned objectives for sustainable housing. The research available on sustainable housing in steel is studied along with few case studies of buildings with the efficient use of steel providing a solution with affordability and minimum harm to the environment. The research will conclude the effective solutions exploring possibilities of use of steel for sustainable housing units. The researcher shows how the use of steel in combination with other materials for human shelters can promote sustainable housing for community living which is the need of the time.

Keywords: community living, steel, sustainable housing, urban area

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Authors: Abdurraheem A. Yakub

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Housing is one of the needs of mankind and is one of the best indicators of a person’s standard of living. This research was set out to analyze the housing qualities and conditions in Kano. Primary data was collected through both Personal observations where the researcher carried out an inspection of the study area prior to interview/implementation of questionnaires and took into consideration the type of housing units, construction materials and services available as well as the environmental condition of the study area. This was followed by an interview which was done through personal contact with the various people related to the study. In the course of doing that, questions were asked orally and notes were taken to record the responses. Thereafter, the Questionnaire was implemented which was earlier designed to elicit information from households in the study area using well-structured questions related to the type of facilities provided in the housing unit, types of houses and response with regard to quality of their houses and neighborhoods, tenure of house. The research work looked at the prevailing housing qualities and conditions and the state of the existing facilities and amenities within the environment and offered recommendations on policies and measures that could help improve the situation.

Keywords: housing provision, housing quality, housing standard, housing condition, housing affordability and housing facilities

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Authors: Yingjie Feng, Lei Xu, Zhenyu Cao

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In the process of urbanization, public housing is often a powerful means to deal with large floating population. In the developed countries like the U.S, France, Singapore, and Japan, the experience on how to make use of public housing to realize social integration in aspects of race, class, religion, income is gained through years of practice. Take the example of Singapore, the article first introduces the ethnic composition background and public housing development in Singapore, and then gives a detailed explanation and analysis on social integration in public housing from the views of Ethnic quotas policy, community organization construction and design of public space. Finally, combined with the Chinese situation, the article points out that the solution for social integration in China is the organic mix of different income groups in public housing.

Keywords: floating population, public housing, Singapore, social integration, urbanization

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Authors: S. Akinde, Jubril Olatunbosun

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In recent years, most of the urban centers in Nigeria are fast experiencing housing problems such as unaffordable housing and environmental challenges, all of which determine the nature of housing quality. The population continues to increase and the demand for quality housing increases probably at the same rate. Several kinds of houses serve various purposes; the objectives of the low cost housing schemes as the name suggests is to make houses quality to both the middle and lower classes of people in Lagos. A casual look into the study area of Iba Low Cost Housing Estate and the Unity Low Cost Housing Estate, Ojo and Alimosho respectively in Lagos State have shown a huge demands for houses. The study area boasts of a large population all engaged in various commercial activities with income at various levels. It would be fair to say that these people are mainly of the middle class and lower class. This means the low cost housing scheme truly serves these purposes. A Low Cost Housing Scheme of Iba which is publicly owned and Low Cost Housing Scheme of Unity Estate (UE) is privately owned.  

Keywords: housing, residential quality, low cost housing scheme, public, private estates

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Authors: Ernawati Mustafa Kamal, Hasnanywati Hassan, Atasya Osmadi

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The housing industry is crucial for sustainable development of every country. Housing is a basic need that can enhance the quality of life. Owning a house is therefore the main aim of individuals. However, affordability has become a critical issue towards homeownership. In recent years, housing price in the main cities has increased tremendously to unaffordable level. This paper investigates factors influencing the housing price from developer’s perspective and provides recommendation on strategies to tackle this issue. Online and face-to-face survey was conducted on housing developers operating in Penang, Malaysia. The results indicate that (1) location; (2) macroeconomics factor; (3) demographic factors; (4) land/zoning and; (5) industry factors are the main factors influencing the housing price. This paper contributes towards better understanding on developers’ view on how the housing price is determined and form a basis for government to help tackle the housing affordability issue.

Keywords: factors influence, house price, housing developers, Malaysia

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Authors: Yidnekachew Daget, Hong Zhang

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The decision-making process in order to select the suitable housing system for application in housing construction has been a challenge for many developing countries. This study evaluates the decision process to identify the suitable housing systems for adoption in Addis Ababa. Ten industrialized housing systems were considered as alternatives for comparison. These systems have been used in a housing development in different parts of the world. A relevant literature review and contextual analysis were conducted. An analytical hierarchy process and an Expert Choice Comparion platform were employed as a research technique and tool to evaluate the professionals’ level of preferences with regard to the housing systems. The findings revealed the priority rank and characteristics of the suitable housing systems to be adapted for application in housing development. The decision criteria and the analytical process used in this study can help the decision-makers and the housing developers in developing countries make effective evaluations and decisions.

Keywords: analytical hierarchy process, decision-making, expert choice comparion, industrialized housing systems

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Authors: Liudmila A.Guzikova

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Being federative state Russia includes more than 80 subjects which are widely diverse by climatic conditions, demographic characteristics, cultural traditions, intensity of migration, economic development and investment attraction and other parameters. Now, in the regions of the country all forms of housing problem are present - housing mismatch to sanitary and hygienic standards, overcrowding, forced residence in financially burdensome housing, homelessness, -although the extent of these symptoms varies widely. Heterogeneity of regional conditions in combination with specifics of regional housing situation requires to concentrate the study of housing problem on the regional level. Traditionally housing market and mortgage are considered as the instruments of housing problem solving. The question arises how the housing market and mortgage market contribute to solving the housing problem in the regions of Russia. Though the purchase of dwelling in ownership should not be regarded as a universal method of the housing problem solving, the purchase of dwelling both by own funds or by use of mortgage can reduce the problem and enhance public satisfaction of living conditions. The aim of the study is to identify differences and similarities in the development of regional housing markets and mortgage lending in the regions of Russia and to evaluate their impact on the status of the housing problem. To achieve the aim of the study the methods of correlation and regression analysis are used. The data of federal statistics constitutes the information base of research. The results of the study contribute to better understanding of the interrelations in housing sphere and can be used to work out social and economic development programs in the regions.

Keywords: housing market, housing problem, mortgage, regional economy

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Authors: Jose Funes, Jeff Sauer, Laixiang Sun

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This research examines determinants of multifamily housing development and spillovers in the District of Columbia. A range of socioeconomic factors related to income distribution, productivity, and land use policies are thought to influence the development in contemporary U.S. multifamily housing markets. The analysis leverages data from the American Community Survey to construct panel datasets spanning from 2010 to 2019. Using spatial regression, we identify several socioeconomic measures and land use policies both positively and negatively associated with new housing supply. We contextualize housing estimates related to race in relation to uneven development in the contemporary D.C. housing supply.

Keywords: neighborhood effect, sorting, spatial spillovers, multifamily housing

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Authors: Elise Machline

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Policy instruments have been developed worldwide to reduce the energy demand of buildings. Two types of such instruments have been green building rating systems and energy efficiency standards for buildings -such as Green Star (Australia), LEED (United States, Leadership in Energy and Environmental Design), Energy Star (United States), and BREEAM (United Kingdom, Building Research Establishment Environmental Assessment Method). The popularity of the idea of sustainable development has allowed the actors to consider the potential value generated by the environmental performance of buildings, labeled “green value” in the literature. Sustainable performances of buildings are expected to improve their attractiveness, increasing their value. A growing number of empirical studies demonstrate that green buildings yield rental/sale premia, as well as higher occupancy rates and thus higher asset values. The results suggest that green buildings are not affordable to all and that their construction tends to have a gentrifying effect. An increasing number of countries are institutionalizing green strategies for affordable housing. In that sense, making green buildings affordable to all will depend on government policies. That research aims to investigate whether green building fosters inequality in Israel, under the banner of sustainability. The method is comparison (of the market value). This method involves comparing the green buildings sale prices with non-certified buildings of the same type that have undergone recent transactions. The “market value” is deduced from those sources by analogy. The results show that, in Israel, green building projects are usually addressed to the middle to upper classes. The green apartment’s sale premium is about 19% (comparing to non-certified dwelling). There is a link between energy and/or environmental performance and the financial value of the dwellings. Moreover, price differential is much higher than the value of energy savings. This perpetuates socio-spatial and socio-economic inequality as well as ecological vulnerability for the poor and other socially marginal groups. Moreover, there are no green affordable housings and the authorities do not subsidy green building or retrofitting.

Keywords: green building, gentrification, social housing, green value, green building certification

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Authors: Kwadwo Afari Gyan

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Cities are growing at unprecedented levels. Meanwhile, governments in the Global South are already overwhelmed by this growth and are unable to provide infrastructure proactively as expected. As a result, urban residents resort to providing their own infrastructure, such as drainage systems, as part of self-built housing development. Their small-scale, incremental housing practices, which often represent the formation of dense and diverse housing types, styles, and ages, have been identified to affect the planning of drainage systems at the regional scale. Such developments reflect the varied, affordable responses as part of a collective effort to curb regional problems, specifically flooding in this case. However, while some are included in this collective action, others are excluded as they are unable to afford to be included. This phenomenon, in addition to the formation of new autonomous localities, has led to challenges in mitigating flooding and has affected resilience to climate change. Using a qualitative approach, this paper explores how the mismatch between housing development, which occurs at an individual scale, and drainage infrastructure, which is provided at a regional scale, affects a regional effort to mitigate flooding in Tema, Ghana. It seeks to explore and reveal a relationship between affordability and inclusiveness. It also explores how density and diversity influence public infrastructure provision and their connection with affordability.

Keywords: climate change, affordability, inclusivity, equity, contextualization, regionalism

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Authors: Matthew Brady

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Lack of affordable housing for individuals has the potential to create gaps in society, which result in thousands of people facing homelessness every year in some of the worlds most affluent cities. This paper examines strategies for providing a more economic living environment for single occupants. Focusing on comparisons of successful examples reducing homeless populations around the world, with an emphasis on social inclusion and community living. Practically exploring the architectural considerations of ensuring a suitable living environment for multiple single occupancy residents, as well as selecting the appropriate materials to ensure costs are kept to manageable level for investment from local governments. The aim of this paper is to make some practical recommendations for low cost communal living space, with particular reference to recycled shipping container homes on a potential unused site on the River Clyde in Glasgow. Ideally, the suggestions and recommendations put forward in this paper can be replicable or used for reference in other similar situations. The proposal explored in this paper is sensitive towards addressing people's standard of living and adapting homes to match may be one solution to reducing the number of people being evicted from unaffordable homes as the generally upward global trend for urbanization continues.

Keywords: affordable housing, community living, shipping container, urban regeneration

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Authors: Raweyah Al-Sedairawi

Abstract:

While high-rise housing detained massive negative connotations on several societies and well-being, this typology did deliver housing demand efficiently. Despite its adverse reference due to declining precedents, high-rise housing is still in global demand. Yet the suitability of this typology is still questioned. In this research, the suitability of high-rise housing as a socio-culturally sustainable solution to meet housing demands will be examined. By questioning what is the potential of high-rise housing as a socio-culturally sustainable solution for housing demands, the research will examine some high-rise housing practices. Through reviewing the literature on the origins of high-rise housing, how and why they were developed, some unsuccessful cases, and some successful cases, with the identification of factors for successful high-rise living. Thus, the research groundings will materialize from existing patterns of housing demands. Whilst most of the literature covers the housing market from an economic, real estate, and political perspective, there is less amount that discloses occupants’ reactions towards this typology and its appropriateness for the reason that income controls individuals’ choices. To bridge the gap, the prospect of implementing the study would be effective. This will be applied through a mixture of a qualitative and a quantitative methodology by conducting questionnaires and focus groups on existing cases of high-net-worth residential towers.

Keywords: architecture, behaviors, high-rise, socio-cultural, sustainability

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Authors: Hui Wu, Ye Li

Abstract:

Applying the structural break estimation method proposed by Perron and Bai (1998) to the housing price growth rate of top 5 MSAs in the Texas area, this paper estimated the structural break date for the growth rate of housing prices index. As shown in the estimation results, the break dates for each region are quite different, which indicates the heterogeneity of the housing market in response to macroeconomic conditions.

Keywords: structural break, housing prices index, ADF test, linear model

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Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

Abstract:

Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans

Procedia PDF Downloads 359

Authors: Xuran Zhang, Huiru Chen

Abstract:

In recent years, China has made great efforts to cultivate and develop the housing rental market, especially the rental-type public housing, which has been paid attention to by all sectors of the society. This paper takes Hangzhou rental-type public housing as the research object, and divides it into three development stages according to the different supply modes of rental-type public housing. Through data collection and field research, the paper summarizes the spatial characteristics of rental-type public housing from the five perspectives of spatial planning, spatial layout, spatial integration, spatial organization and spatial configuration. On this basis, the paper proposes the optimization of the spatial layout. The study concludes that the spatial layout of rental-type public housing should be coordinated with the development of urban planning. When planning and constructing, it is necessary to select more mixed construction modes, to be properly centralized, and to improve the surrounding transportation service facilities.  It is hoped that the recommendations in this paper will provide a reference for the further development of rental-type public housing in Hangzhou.

Keywords: Hangzhou, rental-type public housing, spatial distribution, spatial optimization

Procedia PDF Downloads 323

Authors: Safa Ougoujil, Sidi Mohamed Rigar

Abstract:

Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: convergences, ethical finance, Islamic finance, potential development

Procedia PDF Downloads 194