Advisory Center for Affordable Settlements & Housing

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Edited By Saba Bilquis
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Rental Housing In Advanced And Emerging Markets

Until the mortgage crisis erupted in 2008, the housing policy of most nations focused on increasing home ownership. There had been very little discussion about rental housing, less about social housing, and virtually none about public housing. After Subprime Crisis in 2008, with homes going into foreclosure and credit tightening in many countries, the need for rental housing increased dramatically. The development of residential rental markets also critically depends on the enabling environment of the country (laws, regulations, taxation) and the capacity to raise significant financial resources from investors and financiers. The fiscal treatment of this sector by the public authorities can also play a decisive positive or negative role in expanding (or not) an affordable rental sector. There are some decisive steps to be suggested, such as improved landlord-tenant regulations, adjustments to the tax system, simplification of the process by which multifamily properties are registered, or adjustments to the overall system of housing subsidies. Facilitating an environment for rental residential markets to develop, rather than following the older policy approach of governments directly financing, building, and managing rental housing. Rental housing is to be at the forefront of the housing agenda of national planners.

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