Housing Tenure and Housing Demand in Colombia

Maria Arbelaez (), Roberto Steiner, Alejandro Becerra and Daniel Wills

No 3809, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: Using the 2003 and 2008 Quality of Life Surveys (QLS) conducted by the National Department of Statistics (DANE), 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.

Keywords: IDB-WP-259; Housing policy; Housing demand; tenure choices; housing market policies; Colombia; quality of life surveys (search for similar items in EconPapers)
JEL-codes: G21 O54 R21 R28 R38 R58 (search for similar items in EconPapers)
Date: 2011-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Housing tenure and housing demand in Colombia (2011)
Working Paper: Housing Tenure and Housing Demand in Colombia (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:3809

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