Policy Options to Improve the Framework for Housing and Housing Finance

This paper addresses the need for expansion in the housing and housing finance markets in South Asia, and discusses the common priority needs that emerge across the region.

The paper discusses issues in efficient land administration, market information, access to long-term funding and serving low-income groups. It states that there is a need for:

• Clear and consistent laws on land registration and titling, reduction of costs and computerized information and registration systems;
• Availability of ready, user-friendly, electronic data on property prices and real estate, housing supply and demand, construction, pricing, and credit records;
• Mortgage refinancing to provide institutional support for building the link to securitization in the long run;
• Use of appropriate market-based and innovative, alternative models, products and instruments to expand housing finance to lower-income groups.

Although countries in South Asia share a common need for expansion in housing and housing finance, each country has specific requirements according to its level of market development.