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21 – 30 of over 41000
Article
Publication date: 13 February 2007

E. Chapinduka Nyasulu and C.E. Cloete

The purpose of this research is to investigate the unaffordability of housing and limited access to finance as limiting factors to the provision of adequate housing in the urban…

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Abstract

Purpose

The purpose of this research is to investigate the unaffordability of housing and limited access to finance as limiting factors to the provision of adequate housing in the urban areas of Malawi.

Design/methodology/approach

Primary data were collected by means of questionnaires followed up by semi‐structured personal interviews. These interviews were conducted with all major role players in the urban housing finance industry. Secondary data were obtained through scrutiny of the stakeholders' relevant official records and reports kept at their offices. The subset of analysis was chosen to be the local authorities of Blantyre, Zomba, Lilongwe and Mzuzu.

Findings

Finance from the formal sector is accessible to fewer than 35 per cent of the urban population and less than 16 per cent of households in the major urban areas can afford an average house. No government subsidies are available for end users and development financing is limited and extremely dear. The contribution from non‐conventional finance sources to housing finance is negligible.

Practical implications

It is suggested that the use of various instruments may alleviate the situation. Such instruments could include a housing tax for the implementation of subsidies, subsidies from developed countries, the formation of cooperatives and the implementation of securitisation.

Originality/value

Limited research exists on the problem of housing finance in Malawi. This paper quantifies the situation. Implementation of the recommendations will contribute to the provision of adequate housing in Malawi.

Details

Property Management, vol. 25 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 26 July 2013

Robert A. Opoku and Alhassan G. Abdul‐Muhmin

This study aims to investigate the house purchase behavior of low‐income Saudis regarding the sources of financing they wish to have access to, their preferences for alternative…

Abstract

Purpose

This study aims to investigate the house purchase behavior of low‐income Saudis regarding the sources of financing they wish to have access to, their preferences for alternative financing options, and the monthly payment amounts they could afford to make in case of mortgage financing across demographic groups.

Design/methodology/approach

A survey with a sample of 815 low‐income respondents with a monthly income of SR7,000 was conducted using a structured questionnaire.

Findings

The main findings of the study are that the loan from the government Real Estate Development Fund (REDF) is found to be the most preferred financing alternative, the second being cash payment; whilst the most frequently indicated option for monthly mortgage payments is between SR1,000 and SR1,500 (US$267 and US$400) among low‐income Saudis.

Research limitations/implications

This study provides a snapshot of low‐income Saudi consumers' knowledge of financing options and their choice among alternative financing options.

Practical implications

This also offers opportunities for real estate developers to seek competitive advantage by coming up with innovative financing options to target low‐income earners.

Originality/value

There is limited published work exploring consumer knowledge of house purchase finance options that captures this phenomenon from the perspectives of low‐income Saudi consumers. This study contributes in filling this gap.

Details

International Journal of Housing Markets and Analysis, vol. 6 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 8 February 2021

The Su Nyein and Bonaventura H.W. Hadikusumo

To provide low-cost housing, the Myanmar Government is attempting to use public–private partnership (PPP) to attract private investors. However, there is little information…

Abstract

Purpose

To provide low-cost housing, the Myanmar Government is attempting to use public–private partnership (PPP) to attract private investors. However, there is little information concerning the influencing factors for implementing PPP low-cost housing projects in Myanmar. This paper, therefore, aims to identify and analyse these factors.

Design/methodology/approach

A total of 51 in-depth interviews were conducted with interviewees involved in various kinds of housing projects implemented through the adoption of PPP or other approaches. The methods of data collection and the analysis are based on grounded theory (GT) methodology.

Findings

Using the GT method to analyse the interviews, five categories emerged from 50 influencing factors regarding the establishment and implementation of the PPP model for low-cost housing in Myanmar: provision of incentives; obstacles in implementing PPP for all stakeholders; barriers to private sector participation; public sector responsibilities and challenges; and attraction factors and challenges for financial institutions. Among 12 newly found factors, the three most important for PPP low-cost housing in Myanmar are the availability of project funding, the resolution of land-acquisition issues and the development of a sound financing system.

Research limitations/implications

Our findings strengthen previous studies by identifying factors affecting PPP low-cost housing either specific to Myanmar or common among other countries. Of the 50 factors identified, 38 factors were found in previous studies, but 12 are likely specific to Myanmar.

Practical implications

Our findings can be used by governments, particularly the Myanmar Government, and financial agencies to understand the low attractiveness of PPP low-cost housing for investors and to develop/improve policies to stimulate PPP low-cost housing, especially in Myanmar.

Originality/value

Many previous studies have been undertaken to identify factors that influence the implementation of PPP for low-cost housing. However, to the best of the authors’ knowledge, there are no prior studies specific to Myanmar in this context.

Details

Journal of Financial Management of Property and Construction , vol. 26 no. 3
Type: Research Article
ISSN: 1366-4387

Keywords

Article
Publication date: 2 February 2022

Andrew Ebekozien, Clinton Aigbavboa, Marvelous Aigbedion, Iliye Faith Ogbaini and Emmanuel Omoniyi Awe

The Nigerian Government’s initiatives to provide housing loans to low-income pensioners (LIPs) have been futile. This paper aims to examine the root cause of housing loan…

Abstract

Purpose

The Nigerian Government’s initiatives to provide housing loans to low-income pensioners (LIPs) have been futile. This paper aims to examine the root cause of housing loan inaccessibility for the Nigerian LIPs and proffer some possible policy options. This is because inaccessibility to housing finance is one of the impediments facing the LIPs homeownership.

Design/methodology/approach

The phenomenology type of qualitative research was employed to collate data. The study supports MAXQDA 2020 with thematic analysis to analyse the data and achieve saturation with 30 knowledgeable participants.

Findings

Findings show that housing loan rejection is extremely high among LIPs. Some of the impediments facing the LIPs in accessing housing loans include delayed gratuity, insufficient income for housing loan repayments, failed mortgage finance, incapacitated National Housing Fund (NHF), a corrupt system and lack of collateral.

Research limitations/implications

The paper is limited to the housing loan inaccessibility for the Nigerian LIPs and data collected via semi-structured face-to-face interviews in Lagos, Nigeria. Other developing cities may adopt the suggestions that will emerge from this paper with similar housing loan inaccessibility issues.

Practical implications

This study would stir policymakers and mortgage institutions to consider the suggestions from this paper. Examples are the review of the Pension Reform Act 2014 to allow for 50% part withdrawal from the Retirement Savings Account, 10% upward review contribution to NHF and create special Federal Integrated Staff Housing Programme (FISH-P) for LIPs. These form part of the practical implications and will be helpful to policymakers.

Originality/value

Research regarding LIPs’ housing loan accessibility is limited, making this paper one of the pioneering attempts to investigate the root cause of housing loan inaccessibility for the Nigerian LIPs, and proffers some possible policy options.

Details

Property Management, vol. 40 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Book part
Publication date: 14 December 2018

Yusuf Varli

Since the 2007–2008 financial crisis, the markets related to housing finance have been restoring their tools and instruments in order to avoid a new crisis. In this period, while…

Abstract

Since the 2007–2008 financial crisis, the markets related to housing finance have been restoring their tools and instruments in order to avoid a new crisis. In this period, while attempting to eliminate structural problems in existing housing finance instruments, on the other hand new products were tried to figure out. In particular, products based on risk sharing have frequently come to the forefront, both in the academia and the industry. In this direction, one such innovative product is the participating mortgage, in which the borrower obtains below-market interest rates in return for a percentage of the property’s future appreciation and/or net operating income. Particularly used in conventional markets, participating mortgage can also be applied within the Islamic finance thanks to the model it is based on. This chapter attempts to introduce the method of participating mortgage with detailed background and intellectual investigation. Including the modeling of participating mortgage, this study also shows how this method can be designed under Islamic finance. Furthermore, implications and fields of application are explored with a discussion of challenges. In this chapter, considering the achievements of participating mortgage method, it is asserted that it can enable the product diversity of the Islamic banks, thereby increasing the share in the global banking sector.

Details

Management of Islamic Finance: Principle, Practice, and Performance
Type: Book
ISBN: 978-1-78756-403-9

Keywords

Article
Publication date: 1 December 2002

Marsha J. Courchane and Judith A. Giles

As financial markets move toward increased globalization, it becomes worth considering whether inherent differences in financial markets across different countries will diminish…

3016

Abstract

As financial markets move toward increased globalization, it becomes worth considering whether inherent differences in financial markets across different countries will diminish. For two countries more similar than different in terms of geography, location, government and culture, Canada and the USA remain strikingly different in terms of housing finance. Public policy objectives toward housing followed quite different paths over the past 70 years and fundamental differences in banking practices have led to considerably different outcomes in terms of mortgage finance instruments in the two countries. Examines some of the differences in policy and in competitive practices between Canada and the USA in an attempt to illuminate why differences in rates and terms across the two countries still exist. While a part of the difference remains due to legal constraints concerning the finance of the domestic housing sector, focuses on the economics and public policy choices that have led to the observed differences rather than on an analysis of the legal structure.

Details

Property Management, vol. 20 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Open Access

Abstract

Details

Rajagiri Management Journal, vol. 18 no. 1
Type: Research Article
ISSN: 0972-9968

Article
Publication date: 6 May 2021

Manav Khaire and Nagaraj Muniappa

In India – the largest democracy and second most populated country globally – the housing research domain is relatively under-researched and under-theorized. To support and…

Abstract

Purpose

In India – the largest democracy and second most populated country globally – the housing research domain is relatively under-researched and under-theorized. To support and advance research in this domain, this study aims to form and organize the repository of extant academic knowledge in the subject matter of housing research in India.

Design/methodology/approach

This study uses a scoping review methodology and a thematic analysis method. All the articles analyzed in this study were systematically searched by following the scoping review approach proposed by Arksey and O’Malley (2005). An initial search found 365 articles and finally, 108 articles that met the inclusion criteria were analyzed using the thematic analysis method.

Findings

The data extracted from these 108 articles were analyzed using thematic analysis to arrive at four thematic areas, namely, housing policy, slum housing, housing finance and affordable housing. These thematic areas and 11 sub-themes present under them were used to present a thematic map of housing policy research in India.

Practical implications

This paper contributes to presenting an up-to-date literature review of the housing policy research in India.

Originality/value

To the best of our knowledge, this scoping review focused on housing research in India is the first of its kind. We hope that this study provides a repository of extant research on housing research in India to help current and future researchers.

Details

International Journal of Housing Markets and Analysis, vol. 15 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 8 April 2022

Raed Alharbi

Affordable housing provision is one of the visions of the Kingdom of Saudi Arabia (KSA), as highlighted in Vision 2030. For about 21 months now, the coronavirus disease 2019…

Abstract

Purpose

Affordable housing provision is one of the visions of the Kingdom of Saudi Arabia (KSA), as highlighted in Vision 2030. For about 21 months now, the coronavirus disease 2019 (COVID-19) pandemic has ravaged the world and has increased the level of economic crisis and financial uncertainty to achieve planned projects. Studies investigating the reality of how the COVID-19 pandemic may streamline the chances of achieving affordable housing for all in 2030 are scarce. Thus, this study examined the relevance of affordable housing, the perceived impact of COVID-19 on affordable housing and proffered measures to promote affordable housing finance in Vision 2030.

Design/methodology/approach

Medina, Riyadh and Al Qassim were the participants' cities engaged via panel interviews and supported by existing relevant Vision 2030 documents. The Delphi method was adopted to explore the government officials, financial operators (bankers), academicians and employees' opinions, and the analysed data presented in themes.

Findings

Findings show that SA Vision 2030 blueprint expresses an exemplary country in all ramifications, including affordable housing finance for the citizens. Findings reveal that the COVID-19 pandemic threatens SA affordable housing finance Vision 2030. The increased housing shortage, high construction housing cost, increased foreclosures, increased eviction, possible homelessness, financial instability and vulnerability emerged as the perceived impact of COVID-19 on affordable housing finance in Vision 2030. Refinancing housing loans to boost Vision 2030, forbearance to promote Vision 2030, improve payment relief, among others, emerged as measures to promote affordable housing in the post-COVID-19 era.

Research limitations/implications

The research only identified the possible negative impacts of the COVID-19 pandemic on affordable housing finance in Vision 2030 and proffered policy solutions from the engaged participants' perspective. Also, the study covered three cities (Medina, Riyadh and Al Qassim). The suggestions that will emerge from this research may be adopted to address other sectors captured in Vision 2030 that are critical and hit by the ravaging pandemic.

Practical implications

Measures such as refinancing mortgages and strengthening government housing agencies will promote affordable housing for Vision 2030 if the relevant policymakers and mortgage institutions are well implemented.

Originality/value

This research identified the perceived early threats from the COVID-19 pandemic that could affect affordable housing transformation in Vision 2030 from the participants' perspective. Studies regarding COVID-19 and affordable housing in Vision 2030 are very few.

Details

International Journal of Building Pathology and Adaptation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-4708

Keywords

21 – 30 of over 41000