Fiscal Costs of Subsidies for Socialized Housing Programs: an Update

In this update of housing subsidies in the Philippines and the fiscal costs of their application, the author delves into the issue of whether the subsidies for housing programs could have been put into more efficient use by the government.housing finance, housing program, housing subsidy, housing sector, Philippines, , socialized housing

A Second Look at Institutional Reforms in the Housing Sector

Despite the long list of policy instruments adopted by the Philippine government through the years to improve the country's housing situation, very little improvement has been observed in the housing condition in the Philippines. Why? In this Policy Notes, Ballesteros argues that it is because the government response has not truly addressed the concerns that give rise to the housing dilemma.housing sector, institutional reforms

Property Rights in Land Reform Areas

"Land to tiller" has been the rallying slogan of the land reform program in the Philippines, with improvements in income and productivity in the agrarian sector expected to be realized. However, even if some equalization of incomes may have indeed occurred, the full benefits of the asset transfer have not been realized. Why? This Policy Notes suggests that the reason might be due to the fact that ill-defined land rights brought about by regulatory and bureaucratic impediments have rendered such lands as practically "dead capital/asset." The roots of this property rights problem are traced in this paper.land use planning, property rights, land redistribution program, land reform

Benefits (and Losses) from Rent Control in the Philippines: An Empirical Study of Metro Manila

This study examines benefits (and losses) from the rent control law in Metro Manila. The results show that net benefits from rent control are positive and targets mainly the poor families. However, benefits have negligible effects on income. They also tend to be eroded by the regressive effects of rent control on supply of rental housing, in particular, the strict eviction provisions of the law. Stiff competition for low-priced rental housing, low quality of housing for the poor, higher rents for the uncontrolled sector, and misallocation of resources are the possible effects of rent control on housing. It is recommended that government find other alternative schemes to the rent control law. Possible schemes include the provision of rental allowances to the poor; provision of low-cost financing to landlords, including those who are into self-help housing; and rent of government land on leasehold basis to developers interested to go into rental housing.rent control, rental housing market

Has Land Reform Improved on Landownership Inequality? Evidence from Philippine Rice-growing Villages

Has land ownership distribution in the Philippines improved as a result of the land reform program instituted in the country? Not quite, this Policy Notes asserts. Find out why...land reform, land ownership concentration, land ownership consolidation

Can Group Credit Work for Housing Loans? Some Evidence from the CMP

In recent years, a number of lending instruments have been introduced and tried out in the area of housing finance. In the Philippines, a group lending scheme is being implemented through the government's Community Mortgage Program (CMP). While the program is generally accepted as a pro-poor housing program, its financial sustainability has been in question. This Policy Notes seeks to find out why.housing finance, housing program, group credit, Community Mortgage Program (CMP), group lending scheme, lending instruments

The Dynamics of Housing Demand in the Philippines: Income and Lifecycle Effects

This paper examines the housing consumption pattern of Philippine households. Two basic issues are examined: one, how is housing demand associated with income and demographic changes? and two, does the housing consumption pattern of households suggest the presence of significant housing market imperfections or capital market imperfections in the country? The results show that while income is a major factor in housing demand, other factors such as lifecycle, price of housing, and financing availability also affect demand. Estimates of income elasticity show that the demand for housing is highly responsive to a change in income, but housing adjustments are confined to basic improvements in housing facilities with minimal change on tenure. The path toward acceptable housing is constrained due to several factors: first, the ratio of unit housing cost to income is rapidly rising; second, there are few low-cost alternatives to homeownership in the formal market; and third, innovative housing finance is limited and the microfinance schemes available suffer from liquidity problems and bureaucratic delays. Thus, government has to address the problems of housing in a broader context. The issues are not only confined in providing households income transfers through subsidies or in giving access to housing and security of tenure but also in looking at the larger issue of urban development.housing program, housing sector, housing demand

The urban land and real estate market in Metro Manila : a socio-economic analysis

Contains fulltext : 18904.pdf (publisher's version ) (Open Access)X, 240 p

Benefits (and Losses) From Rent Control in the Philippines: An Empirical Study of Metro Manila

This study examines benefits of rent control law in Metro Manila. The results show that rent control benefits are conditional to occupying a rent-controlled unit and on tenure. The benefits of rent control are found positive. Many poor and low-income households are benefited but the distributional effects are minimal since nonpoor families have equal access to rent-controlled units. Evidence of losses or income transfers from landlords to tenants is not substantiated. The most probable income transfers are those from short-stayers to long-stayers. Rent control is a poor mechanism for income transfer. However, the rental housing market tend to be monopolistic and rent control maybe necessary to prevent economic eviction and abuses on payment of key monies. In this case, government has to provide better monitoring mechanism and ensure enforcement of lease contracts.rent control, rental housing market