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The purpose of this paper is to analyse how the staged implementation of inclusionary zoning (IZ) performs relative to conventional IZ programmes in terms of increasing the number of low- and moderate-income households become homeowners.

The paper applies a matching model implemented through a mixed-integer programme model taking Auckland (New Zealand) housing market as a case study. The IZ is simulated by two features: a target price (below which affordable houses are defined) and the income threshold (below which any household gains access to the programme). The staging of IZ consists of first directing affordable houses to low-income households, where those houses that are not sold are cascaded to subsequent population groups with higher incomes.

The staged implementation of IZ does not necessarily imply that the number of sales will increase both for affordable and market-rate houses. However, a hybrid approach defined by two target prices results in a greater number of sales relative to a conventional IZ and a baseline affordable market while achieving market efficiency and equity.

The paper is limited to the marginal impact of new affordable houses entering the market. It does not address further market rounds for houses left empty for tractability purposes. Also, the analysis is circumscribed to current renters and not owners, if owners were included they would outbid renters and distort the intended impact of IZ as an affordable housing policy.

The paper has relevance for policymakers because it provides evidence about the dimensions of IZ to have a lasting effect on housing affordability. The model is applied to a single housing market but is suitable to be generalized and adapted to a different urban environment.

Homeownership provides shelter and is a vital component of wealth, and house purchase signifies a lifetime achievement for many households. For South Africa confronted with social and structural challenges, homeownership by the low and lower middle-income household is pivotal for its structural transformation process. In spite of these potential benefits, research on the affordable housing market in the context of South Africa is limited. This study aims to contribute to this knowledge gap by answering the question “do changes in household income per capita have a symmetric or asymmetric effect on affordable house prices?”

A survey of the international literature on house prices and income revealed that linear modelling that assumes symmetric reaction of macroeconomic variables dominates the empirical strategy. This linearity assumption is restrictive and fails to capture possible asymmetric dynamics inherent in the housing market. The authors address this empirical limitation by using asymmetric non-linear autoregressive distributed lag models that can test and detect the existence of asymmetry in both the long and short run using data from 1985Q1 to 2016Q3.

The results revealed the presence of an asymmetric long-run relationship between affordable house prices and household income per capita. The estimated asymmetric long-run coefficients of logIncome[+] and logIncome[−] are 1.080 and −4.354, respectively, implying that a 1% increase/decrease in household income per capita induces a 1.08% rise/4.35% decline in affordable house prices everything being equal. The positive increase in affordable house prices creates wealth, helps low and middle-income household climb the property ladder and can reduce inequality, which provides support for the country’s structural transformation process. Conversely, a decline in affordable house prices tends to reduce wealth and widen inequality.

This paper recommends both supply- and demand-side policies to support affordable housing development. Supply-side stimulants should include incentives to attract developers to affordable markets such as municipal serviced land and tax credit. Demand-side policy should focus on asset-based welfare policy; for example, the current Finance Linked Income Subsidy Programme (FLISP). Efficient management and coordination of the FLISP are essential to enhance the affordability of first-time buyers. Given the enormous size of the affordable property market, the practice of mortgage securitization by financial institutions should be monitored, as a persistent decline in income can trigger a systemic risk to the economy.

The study results illustrate the importance of homeownership by low- and middle-income households and that the development of the affordable market segment can boost wealth creation and reduce residential segregation. This, in turn, provides support to the country’s structural transformation process.

The affordable housing market in South Africa is of strategic importance to the economy, accounting for 71.4% of all residential properties. Homeownership by low and lower middle-income households creates wealth, reduces wealth inequality and improves revenue collection for local governments. This paper contributes to the empirical literature by modelling the asymmetric behaviour of affordable house prices to changes in household income per capita and other macroeconomic fundamentals. Based on available evidence, this is the first attempt to examine the dynamic asymmetry between affordable house prices and household income per capita in South Africa.

The purpose of this paper is to investigate the determinants of the affordable housing shortage in the Greater Kuala Lumpur from the suppliers’ perspectives.

Primary data were collected through a cross-sectional survey questionnaire comprising 21 determinants and 111 experts in the housing industry.

The affordable housing shortages are consequences of regulations and policies on land allocations, building materials and the affordable housing market. The government should provide more lands to the developers or the government should directly build affordable housing on their lands. To lower the cost of construction, the government should reduce the importation tax and procedures, and the housing industry should find alternative building materials.

Theoretically, the research provided fresh insights into the causes of housing shortages and reasons for the increase in housing prices. The results will be useful to policymakers towards affordable housing delivery and to the developers and contractors on measures to increase profit margins and increase housing supply.

The paper aims at analyzing trends and principal causes of developments in‐house prices in Malta over the past 26 years, with a specific focus on the issue of affordability. This focusing on the strong demand for home ownership and interest from foreign buyers, supply availability together with its relationship to the high vacancy rate existing. Also delved into include the distortions in the rental market, sustainable housing measures, housing densities and high‐rise developments. Finally, noted is the implication on the use of housing as an investment asset in relation to trading on Malta's Stock Exchange

A long‐term approach has been utilized to arrive at deductions. Comparisons undertaken taken mostly with small states.

The present global credit crunch can offer some relief with regard to housing affordability for first time Maltese home buyers. Updating of restricted home rentals can lead to an improved working for the Maltese property market, with some of the large proportion of vacant units being released onto the market.

Based on data collected from National Statistics, together with data bases held in the practice of DHI Periti.

It derives projections for likely future developments in this context and in the light of this discusses some policy options.

An improvement into the quality of life for Maltese households delved into, whilst providing measures for households not to fall below the poverty line also indicated.

Gives original views on projections for the housing affordability index, together with noting that a large vacant property market for the Mediterranean region possibly creates minimal damage to its proper functioning.

Rapid urbanization and the influx of rural residents to urban cities has led to the growth of informal settlements globally. Drawing on institutional theory, this paper aims to examine institutional actors’ legitimacy seeking behaviour to housing issues and their responses to regulative, normative and cultural pressures.

The qualitative case-study research approach is adopted by conducting 25 in-depth interviews that involved purposefully chosen institutional actors in the housing sector. Online observations and documents are used to support the interview data.

Thematic analysis of data gathered suggests that these actors, guided by sensemaking, invest in relationship-building to attain market, social, relational and political legitimacy. The relationship-building also leads to the legitimation of institutional actors’ existence via an eclectic mix of economic, social and political actions.

The results not only guide policymakers faced with potentially conflicting demands to legitimize sustainable housing developments policy that could benefit the urban poor’s shelter needs but also to consider the interactive and dynamic processes of stakeholders’ pressures, in a highly regulated housing environment.

This study discusses the evolution of supply chain and the growing importance of dual marketing strategies. To understand the concept of dual marketing, we present a scenario faced by property developers in Malaysia on the impact of public policy on dual marketing strategy. This study is to uncover (1) the reasons why and how property developers adopt dual marketing strategy, (2) the impact of housing policy on the developers' dual marketing strategy and how they strategise to cope with the policy.

The purpose of this study is to examine the effects of market-based approach to provision of housing to low-income households in urban Malawi.

This study was conducted in Blantyre, Malawi, between 2019 and 2022 and used both quantitative (household survey) and qualitative (in-depth interviews and document study) methods of data collection. Interviews were conducted with key players and investors in the housing sector. Household survey data were analyzed through descriptive statistics, which allowed the generation of descriptive housing valuables, whereas qualitative data were analyzed through content analysis.

This paper demonstrates that, rather than ameliorating the housing problems facing low-income households, the market approach to provision of housing in Malawi has worsened the housing situation in the country. This is so because the market approach to the provision of housing in Malawi is not only enforcing the logic of capitalistic accumulation in the housing sector but also supporting mechanisms of exclusion based on economic stratification within the community.

Completeness of data over time as there is no market data bank available in the country.

The findings from this study suggest that some degree of state intervention in addressing the housing problem in Malawi is required.

The study findings suggest that a market approach to the provision of housing can increase social inequality as low-income households face challenges in accessing housing.

There is a paucity of research on the effects of the market approach on the provision of affordable housing to low-income households in Malawi. This paper assesses this important policy gap and provides significant policy directions.

This study aims to identify and establish effective housing financing concepts to be adopted by government in achieving its mandate of providing sustainable affordable housing for the poor to decrease the building of shacks, as well as proposing solutions to the housing deficit in South Africa. A rise in demand and shortage in supply of housing calls for the need to address issues of affordable housing in South Africa, and developing countries in general, to ensure a stable and promising future for poor families.

Literature has revealed that the South African government, at all levels, accorded high priority to the provision of low-cost housing. Thus, government has adopted subsidy payment as a method of financing affordable housing to ensure that houses are allocated free to the beneficiaries. This also addresses the historically race-based inequalities of the past, but unfortunately, this has not been fully realised. This study uses a sequential mixed method approach, where private housing developers and general building contractors were the research participants. The qualitative data were analysed using a case-by-case analysis, and quantitative data were analysed using a descriptive statistical technique on SPSS.

The results of the qualitative analysis reveal a gross abuse of the housing subsidies system by the beneficiaries of government-funded housing in South Africa. This is evident from illegal sale of the houses below market value. This has led to a continual building of shacks and an increased number of people on the housing waiting list instead of a decrease in the housing deficit. The results from quantitative analysis affirm the use of “Mortgage Payment Subsidies, Mortgage Payment Deductions, Down-Payment Grant and Mortgage Interest Deductions” as viable alternatives to subsidy payment currently in use to finance affordable housing projects by the South African Government.

At the moment, the focus of the South African National Government is continual provision of free housing to the historically disadvantage citizens, but the housing financing method being used encourages unapproved transfer of ownership in the affordable housing sector. This study thus recommends the use of an all-inclusive housing financing method that requires a monetary contribution from the beneficiaries to enable them take control of the process.

The relational interface model proposed in this study will reduce pressure on government budgetary provision for housing and guarantee quick return of private developers’ investment in housing. Government must, as a matter of urgency, launch a continuous awareness programme to educate the low-income population on the value and the long-term benefits of the housing.

Using a combined Industrial Marketing and Purchasing’s network approach and institutional theory, this paper aims to explore why firms exploit dual marketing strategy that targets both the consumer (business-to-consumer) and business markets (business-to-business). This study uses the regulated housing market as its research context in examining how housing developers cope with government intervention when implementing a dual marketing strategy.

This study applies a qualitative case study research approach, using 19 in-depth interviews, from the purposefully selected industry actors within the housing market, observations and documents.

The findings uncover housing developers’ struggles in dealing with government intervention when they adopt a dual marketing strategy. When dealing with the regulated consumer market, developers formed an issue-based net with other competitors and used their association to bargain with the government for flexibility in public policy. When selling to the business market, in which the private investment club emerged as a powerful actor, they initiated strategic net and influenced property developers’ pricing and selling strategies. The findings also demonstrate that the restrictions imposed on the consumer market have a spillover effect on the business market, which reflects the contextual embeddedness of the two markets.

This study contributes to the understanding of how actors strategize and co-evolve when implementing a dual marketing strategy. It helps policymakers, business actors and other connected actors to understand the interactions of all actors within a network that affects each other’s decisions.

Shared equity homeownership is a form of subsidised, resale-restricted housing through which lower-income households can sustain their affordability. This paper aims to distinguish two types of affordability within shared equity homeownership: “entry affordability” indicates how affordable subsidised housing is when a household first becomes a subsidised owner; while “exit affordability” means how affordable private housing is after a household has enjoyed subsidised homeownership for a period of time.

Using price-to-income ratios, this study compares the entry and exit affordability of shared equity homeownership programs in Australia, Mainland China, Hong Kong, Norway, the UK and the USA. Based on these international comparisons, this study generalises two distinct types of shared equity homeownership models, namely, the models of “share-to-buy” and “share forever”. A new model, “follow-as-you-go”, is further suggested to increase the elasticity of potential affordable housing supply by providing incentives for existing subsidised homeowners to move.

A key finding of this study is that while shared equity homeownership programs can improve entry affordability, homeowners’ exit affordability is weak when subsidised homeowners have to share their capital gain with the government. While many housing policy discussions around the world that support shared equity homeownership focus only on the improvement of entry affordability, these discussions usually ignore the importance of exit affordability. This study attempts to fill the void in the understanding of these two types of affordability.

Shared equity homeownership policy is not only about offering low-income households but also an affordable housing option. It is also about facilitating well-off subsidised homeowners to move up the housing ladder so that the affordable housing option can be freed up for others in need. In a word, it is not only entry affordability but also exit affordability that matters.