Housing Tenure and Housing Demand in Colombia

53 Pages Posted: 19 Nov 2011

See all articles by María Angélica Arbeláez

María Angélica Arbeláez

affiliation not provided to SSRN

Roberto Steiner

Fedesarrollo; Universidad de los Andes, Colombia - Department of Economics

Alejandro Becerra

affiliation not provided to SSRN

Daniel Santiago Wills

Universidad de los Andes, Colombia; Fedesarrollo

Date Written: October 2011

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

Arbeláez, María Angélica and Steiner, Roberto and Becerra, Alejandro and Wills, Daniel Santiago, Housing Tenure and Housing Demand in Colombia (October 2011). IDB Working Paper No. IDB-WP-259, Available at SSRN: https://ssrn.com/abstract=1961902 or http://dx.doi.org/10.2139/ssrn.1961902

María Angélica Arbeláez

affiliation not provided to SSRN

Roberto Steiner (Contact Author)

Fedesarrollo ( email )

Calle 78 No 9-91
Santafe de Bogota, 75074
Colombia

Universidad de los Andes, Colombia - Department of Economics ( email )

Carrera 1a No. 18A-10
Santafe de Bogota, AA4976
Colombia

Alejandro Becerra

affiliation not provided to SSRN

Daniel Santiago Wills

Universidad de los Andes, Colombia ( email )

Carrera Primera # 18A-12
Bogota, DC D.C. 110311
Colombia

Fedesarrollo ( email )

Calle 78 No 9-91
Santafe de Bogota, 75074
Colombia

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