A Japanese saying explains that every human being needs three essential items: clothing, food, and shelter. Rapid economic growth combined with trade opening has facilitated access to the first two commodities for most people in emerging Asia. The current gross domestic product (GDP) per capita in Asia is about four times higher than it was in 1990. However, out of the three fundamental needs, access to adequate housing remains elusive for many residents of Asia. This book aims to study Asia’s housing challenge and develop new ideas to solve it. Access to affordable and adequate housing has become a key concern for many low- and middle-income households worldwide.

The rapid urbanization combined with population growth has led to a surge in housing prices in many urban areas, especially in developing countries. As a consequence, housing has become less affordable for many middle- and low-income households. A recent survey showed that the problem of affordability is particularly severe in Asia and the Pacific. Among the top 20 cities in the world ranked according to the price-to-income ratio, 16 are located in Asia and the Pacific. If prices in the housing market are getting beyond the reach of many dwellers, it can have several severe consequences. First, households are forced to live in dwellings that are too small or in bad condition. Second, households are forced to allocate a large share of their income for housing, neglecting other needs or taking substantial financial risks. Third, some low-income households are unable to pay for regular housing and end up in illegal dwellings or slums, which often lack basic services such as freshwater or sanitation.