Influences
- Urbanization & industrialization
- Poor information is available on the housing stock
- In China, movement controls for the population are eased, and a commerical housing market begins to emerge
1980s
Influences | Policies and Programs | Institutional Roles | Methods, Tools, and Practices | Lessons and Outcomes
Summary
Strong Asian Growth
In most Asian countries, the private sector takes the lead in both housing production and finance, but government still plays an active role as facilitator and enabler. Housing demand grows, but low income housing continues to pose challenges.
Global Context
Government As Enabler
Governments shift emphasis to the private sector, free markets, de-regulation, and trade liberalization. Decentralization and empowerment of local government gain ground while non-governmental and community-based organizations and
public-private partnerships achieve greater prominence. Micro- enterprises and small developers take root, along with housing banks and local development finance corporations like the HUDCO and the Housing Development Finance Corporate in India.
Policies and Programs
- Korea & others begin a shift from supply-side to demand-side subsidies
- Malaysia establishes a government-sponsored housing finance authority
- Korea undertakes policies of housing supply expansion
Institutional Roles
- Publicly-subsidized Korea Housing Bank is the dominant mortgage provider
- In Singapore, the Housing Development Board engages in housing planning and development, management and finance
- In Thailand, Korea & Singapore, public building agencies construct most of the housing stock
Methods, Tools, and Practices
- First mortgage backed security in Asia lauched in Malaysia in 1987
- In Thailand, commerical banks are encouraged to participate more actively in mortgage lending