Housing Demand and Affordability in India: Implications for Housing Policy
The focus of this paper is on the demand for housing in urban India. Using rental data, the paper finds that income elasticities of housing demand are high and elastic across time. Hedonic pricing regressions confirm that this high elasticity is driven by high demand for improved water and sanitatio...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, D.C
The World Bank
2022
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| Online-Zugang: | Volltext |
| Zusammenfassung: | The focus of this paper is on the demand for housing in urban India. Using rental data, the paper finds that income elasticities of housing demand are high and elastic across time. Hedonic pricing regressions confirm that this high elasticity is driven by high demand for improved water and sanitation amenities that are attached to the consumption of housing. Further, the demand estimations show that rental markets in urban India and in megacities are becoming more efficient, emerging from the shadow of legacy rent control regulation and uncertainty from the past. All the results suggest that household subsidies or other demand-side interventions are less warranted, but rather investments to increase housing supply through better service infrastructure for water, sanitation, and connectivity are better uses of public resources. The analysis also provides guidelines to improve the targeting of housing programs by means testing against the income distribution. Using one such estimate of the income distribution, the paper shows that housing affordability is improving in India. In doing so, the paper highlights the methodological challenges in measuring housing affordability in developing countries |
| Beschreibung: | 1 Online-Ressource (75 Seiten) |
| DOI: | 10.1596/1813-9450-10031 |
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| 520 | 3 | |a The focus of this paper is on the demand for housing in urban India. Using rental data, the paper finds that income elasticities of housing demand are high and elastic across time. Hedonic pricing regressions confirm that this high elasticity is driven by high demand for improved water and sanitation amenities that are attached to the consumption of housing. Further, the demand estimations show that rental markets in urban India and in megacities are becoming more efficient, emerging from the shadow of legacy rent control regulation and uncertainty from the past. All the results suggest that household subsidies or other demand-side interventions are less warranted, but rather investments to increase housing supply through better service infrastructure for water, sanitation, and connectivity are better uses of public resources. The analysis also provides guidelines to improve the targeting of housing programs by means testing against the income distribution. Using one such estimate of the income distribution, the paper shows that housing affordability is improving in India. In doing so, the paper highlights the methodological challenges in measuring housing affordability in developing countries | |
| 650 | 4 | |a Communities and Human Settlements | |
| 650 | 4 | |a Household Subsidies | |
| 650 | 4 | |a Housing Cost Intervention | |
| 650 | 4 | |a Housing Demand | |
| 650 | 4 | |a Housing Demand Estimates | |
| 650 | 4 | |a Infrastructure Economics | |
| 650 | 4 | |a Infrastructure Economics and Finance | |
| 650 | 4 | |a Infrastructure Finance | |
| 650 | 4 | |a Public Investment In Infrastructure | |
| 650 | 4 | |a Public Investment Policy | |
| 650 | 4 | |a Rental Market Data | |
| 650 | 4 | |a Urban Housing and Land Settlements | |
| 650 | 4 | |a Urban Housing Demand | |
| 700 | 1 | |a Weng, Xinyu |e Sonstige |4 oth | |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:57Z |
| indexdate | 2024-10-12T04:02:56Z |
| institution | BVB |
| language | English |
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| spellingShingle | Karmali, Nadeem M Housing Demand and Affordability in India Implications for Housing Policy Communities and Human Settlements Household Subsidies Housing Cost Intervention Housing Demand Housing Demand Estimates Infrastructure Economics Infrastructure Economics and Finance Infrastructure Finance Public Investment In Infrastructure Public Investment Policy Rental Market Data Urban Housing and Land Settlements Urban Housing Demand |
| title | Housing Demand and Affordability in India Implications for Housing Policy |
| title_auth | Housing Demand and Affordability in India Implications for Housing Policy |
| title_exact_search | Housing Demand and Affordability in India Implications for Housing Policy |
| title_exact_search_txtP | Housing Demand and Affordability in India Implications for Housing Policy |
| title_full | Housing Demand and Affordability in India Implications for Housing Policy Nadeem M. Karmali |
| title_fullStr | Housing Demand and Affordability in India Implications for Housing Policy Nadeem M. Karmali |
| title_full_unstemmed | Housing Demand and Affordability in India Implications for Housing Policy Nadeem M. Karmali |
| title_short | Housing Demand and Affordability in India |
| title_sort | housing demand and affordability in india implications for housing policy |
| title_sub | Implications for Housing Policy |
| topic | Communities and Human Settlements Household Subsidies Housing Cost Intervention Housing Demand Housing Demand Estimates Infrastructure Economics Infrastructure Economics and Finance Infrastructure Finance Public Investment In Infrastructure Public Investment Policy Rental Market Data Urban Housing and Land Settlements Urban Housing Demand |
| topic_facet | Communities and Human Settlements Household Subsidies Housing Cost Intervention Housing Demand Housing Demand Estimates Infrastructure Economics Infrastructure Economics and Finance Infrastructure Finance Public Investment In Infrastructure Public Investment Policy Rental Market Data Urban Housing and Land Settlements Urban Housing Demand |
| url | https://doi.org/10.1596/1813-9450-10031 |
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