Publication:
Housing Demand and Affordability in India: Implications for Housing Policy

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dc.contributor.authorKarmali, Nadeem M.
dc.contributor.authorWeng, Xinyu
dc.date.accessioned2022-05-05T20:48:05Z
dc.date.available2022-05-05T20:48:05Z
dc.date.issued2022-05
dc.description.abstractThe 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/099342105022229388/IDU0ba4ed93c0c44a0485c09c6b046aabdec42dc
dc.identifier.doi10.1596/1813-9450-10031
dc.identifier.urihttps://hdl.handle.net/10986/37402
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;10031
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectHOUSING DEMAND
dc.subjectURBAN HOUSING DEMAND
dc.subjectHOUSING DEMAND ESTIMATES
dc.subjectHOUSEHOLD SUBSIDIES
dc.subjectPUBLIC INVESTMENT IN INFRASTRUCTURE
dc.subjectHOUSING COST INTERVENTION
dc.subjectRENTAL MARKET DATA
dc.subjectPUBLIC INVESTMENT POLICY
dc.titleHousing Demand and Affordability in Indiaen
dc.title.subtitleImplications for Housing Policyen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2022-05-02
okr.date.lastmodified2022-05-02T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099342105022229388/IDU0ba4ed93c0c44a0485c09c6b046aabdec42dc
okr.guid099342105022229388
okr.identifier.doi10.1596/1813-9450-10031
okr.identifier.externaldocumentum33808825
okr.identifier.internaldocumentum33808825
okr.identifier.reportWPS10031
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099342105022229388/pdf/IDU0ba4ed93c0c44a0485c09c6b046aabdec42dc.pdfen
okr.region.countryIndia
okr.topicCommunities and Human Settlements::Urban Housing and Land Settlements
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicInfrastructure Economics and Finance::Infrastructure Finance
okr.unitDevelopment Impact Measurement (CDIDR)
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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