Publication:
Argentina: Developing Deep and Sustainable Housing Finance Markets

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2017-09-12T21:47:33Z
dc.date.available2017-09-12T21:47:33Z
dc.date.issued2017-06
dc.description.abstractThe housing deficit in Argentina is estimated to affect 6 million out of the 24 million households nationally. Macro-economic turmoil has contributed to this imbalance in two ways. First, the continuous inflation and currency depreciation made real estate a refuge investment protecting the capital value of investors. Second, rapid inflation acts a strong deterrent to the provision of long term finance and in particular mortgages. The government overhauled the public housing assistance policy by launching a 2016-2019 integrated housing and habitat plan (plan integral de vivienda y habitat). This plan aims to stimulate the production, or to provide one million housing solutions through two programs: a neighborhood improvement program targeting informal settlements, and a credit-linked subsidy program, solucion casa propria, through which up-front subsidies are granted to first time home buyers who contract mortgages, thus leveraging the impact of public intervention with bank credit. The broad prohibition of indexation has for a long time stunted the provision of long term, finance. To successfully grow the mortgage market, banks need funding and tools to manage interest rate and liquidity risks - that is, in the absence of significant derivative markets, funding from the capital market. The eventual development of a mortgage bond market based on housing loan portfolios, will help to increase the supply of stable long term funding instruments.en
dc.identifierhttp://documents.worldbank.org/curated/en/248871498688500827/Argentina-Developing-deep-and-sustainable-housing-finance-markets
dc.identifier.doi10.1596/28324
dc.identifier.urihttps://hdl.handle.net/10986/28324
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectHOUSING FINANCE
dc.subjectMORTGAGE INSURANCE
dc.subjectCAPITAL MARKETS
dc.titleArgentinaen
dc.title.subtitleDeveloping Deep and Sustainable Housing Finance Marketsen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleArgentina
okr.date.disclosure2017-06-30
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/248871498688500827/Argentina-Developing-deep-and-sustainable-housing-finance-markets
okr.guid248871498688500827
okr.identifier.doi10.1596/28324
okr.identifier.externaldocumentum090224b084d537b6_1_0
okr.identifier.internaldocumentum27698029
okr.identifier.report117110
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/248871498688500827/pdf/P161487-06-28-2017-1498688499724.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryArgentina
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Capital Markets and Capital Flows
okr.topicFinance and Financial Sector Development::Housing Finance
okr.topicUrban Development::Urban Housing
okr.unitFinance and Markets Global Practice
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