This publication is an evaluation housing finance mechanisms in Republic of Korea. It details Republic of Korea’s experience with this type of financing and may provide other countries with insights that could inform their efforts to promote effective housing and housing finance systems. 

This publication evaluates the housing finance mechanism in Chile, with special attention to the issues of affordability, efficiency, effectiveness, and stability. Over the past three decades, the impact of the Chilean government’s social housing policy on the availability and affordability of housing has been substantial, drastically improving access to low and middle-income level households. During the same period there has been a consolidation of the market economy in the country, accompanied by a deep reform of the financial markets, together with more affordable access to long-term credit by households. All this has resulted in the substantial erosion of the historically large housing deficit.  

A much more dynamic construction sector has contributed - complementing an aggressive social housing policy receiving large fiscal support - to a robust supply of new housing in the marketplace. As reflected in available statistics, gains in income levels, combined with easier family access to reasonably priced housing finance in recent decades, has resulted in much improved living conditions for large segments of the population, benefiting households across the income spectrum. One of the objectives of this report is to share the Chilean experience and some of the lessons learned, particularly those that may be replicable in other countries in the developing world.

This report examines the nature and scope of the housing problem, the housing sector and the financial sector in Indonesia. It describes the structure, patterns, trends, characteristics and evolution of housing finance. It reviews the main players of the housing finance system and driving forces for the change. It examines the strategies and instruments for mobilising domestic resources and the sources and volume of housing finance.

It looks at the structure of mortgage industry and factors constraining the development of housing finance mechanism. It also describes the major low income housing finance programs and initiatives and housing finance subsidies programs in Indonesia. Finally it looks at the alternatives for developing housing mechanisms in Indonesia.

This report examines the nature and scope of the housing problem in Peru. It reviews the evolution of the housing finance systems and main players of the housing finance system and driving forces for the change. It introduces mortgage finance development for medium and low income households with two case studies: Fondo and Creditos MIVIVIENDA.

It examines the residential mortgage market and its segments and constraints. It looks at factors constraining the development of housing finance mechanism and policies and strategies to overcome the bottlenecks for housing finance. It looks at the role of direct subsidies and other initiatives for low income households. Finally it looks at the alternatives for developing housing mechanisms in Peru, with focus on the development of a secondary mortgage market.

This report reviews the housing finance mechanisms and instruments in Bolivia. It consists of six parts. Part 1 provides an overview of the political, macro-economic and financial sector and its development issues in Bolivia. Part 2 describes the state of housing in Bolivia, including the nature and scope of the housing problem, the structure of the housing market and the construction industry.

Part 3 analyzes the evolution of housing finance and the driving forces behind its development; and examines the role of the State in establishing and promoting housing finance, a stable financial sector, and recent housing and housing finance policies. Part 4 illustrates the main housing finance products and instruments in Bolivia. Part 5 examines bottlenecks and factors constraining the development of housing finance mechanisms in Bolivia. Finally, it presents the lessons and recommendations for developing housing finance in Bolivia.

The report sets the Thai economy as a background for examining the housing finance system. It looks at the real estate market and housing market; the evolution of housing development and housing market. It reviews the provision of low income housing in Thailand. It examines the housing finance mechanisms in Thailand. It describes the structure, patterns, trends, characteristics and evolution of housing finance. It reviews the main players of the housing finance system and driving forces for the change.

It examines the strategies and instruments for mobilising domestic resources and the sources and volume of housing finance. It looks at factors constraining the development of housing finance mechanism and policies and strategies to overcome the bottlenecks for housing finance. It also describes the major low income housing finance programs and initiatives. Finally it looks at the alternatives for developing housing mechanisms in Thailand.

This report examines the housing finance mechanisms in South Africa. The report looks at the macro-economic conditions and legal environment in which housing finance is operating. It discusses the role of the state, private sector, multilateral institutions and other agencies in the development of housing finance mechanisms. It reviews a variety of instruments and measures to facilitate access to housing finance and for implementation of different housing finance schemes. It demonstrates that how policy development and environment can shape the housing finance system and its evolution.

It examines the different commercial banking approaches, instruments and products to low income housing finance, and their challenges and constraints. It explores how the regulatory infrastructure and environment and institutions created by the state can carry some of the intermediary risks associated with extending loans to the lower income housing market.