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Growth Housing finance Land administration chain Dr. Monika Hjeds Löfmark National Housing Credit Guarantee Board, Sweden WUF 2010. Short introduction Growth and development Formal and informal methods of finance Mortgages Savings Micro finance Community loans Remittances

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Growth Housing finance Land administration chain Dr. Monika Hjeds Löfmark

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Growth housing finance land administration chain dr monika hjeds l fmark

Growth

Housingfinance

Land administration chain

Dr. Monika Hjeds Löfmark

National Housing Credit Guarantee Board, Sweden

WUF 2010


Growth housing finance land administration chain dr monika hjeds l fmark

Short introduction

Growth and development

Formal and informal methods of finance

Mortgages

Savings

Micro finance

Community loans

Remittances

The land administration chain

Connecting the issues of land, security of tenure and housing finance

Outline of presentation


Introduction

Introduction

Growth and capital

Physical

Human

Social

Growth and institutions

Formal

Informal

Growth and actions

Local knowledge and institutions are crucial

Do not invent the wheel twice

Gradual changes

Formal Institutional Improvements

Broad actions

Growth, urbanization and housing

Housing and housing finance


Formal mortgages

Formal mortgages

Volatile macro economy

Lack of (long term) capital

Lack of financial infrastructure

Legal system, housing market reg., credit bureau, valuations

Credit risk

Collaterals and income

How to include households with low and moderate income?

How to create a better infrastructure, secured ledning environment, adequate funding sources, legal systems, regulations, long term funding, insurance products etc.?


Formal mortgages of gdp

Formal Mortgages, % of GDP


Savings

Savings

Most common financial method

Prepare housholds for regular payments

Increase sustainability

Larger autonomy for the savers

Saving clubs, mobile bankers

Connected with micro finance loan and community loan

High levels of inflation discourages savings

How to formalize savings without high cost for the households?


Interest rates mf

Interest rates, MF


Community loans savings

Community loans/savings

Loans for groups

Promotes social development and increases social capital,

Reaches the (well organized) poor

Infrastructure, land, housing

Growing in importance

How to scale them up?

How to increase their political impact?

How to connect with formal solutions, private actors?


Remittances

Remittances

Immigrants and foreign workers invest in their home countries

Huge amounts, significant part of GDP

Little political impact

Seldom used as income and collateral

How to create more/better data?

How to include them into the formal systems?


Remittances of gdp 2007

Remittances, % of GDP, 2007


Guarantees

Guarantees

May correct for market failures

Allocate risks

Link formal and formal markets

Demonstration projects

Use carefully, must give incentive to responsible behaviour


Land governance and housing finance

Land governance and housing finance

Property rights and introduction of titling processes

Pros and cons

Security of tenure – gradual process

If tenure is informal, security may depend on length, size of occupation, community strength, support from NGOs etc.

Tenure upgrading can be linked with housing loans

Innovative tenure and innovative loans

Provision of temporary occupation rights /leases, long term leases and connect with finance

Simplified registration that can be upgraded

Strategic planning, planning standards according to poor households

Ex: Registration/taxation in Ghana


Land administration chain

Land administration chain


Land administration chain1

Land administration chain

BKN, the National Housing Credit Guarantee Board and Lantmäteriet - the Swedish mapping, cadastral and land registration authority

Launched at a seminar in Stockholm in June 2008 Improving Slum conditions through Innovative Financing. (by FIG ,UN-HABITAT, Lantmäteriet and BKN)

Educational program

Lantmäteriet discusses and presents issues concerning good land governance, registration, GIS etc

BKN focus on housing finance in informal markets. We are particularly interested in the role of guarantees and how guarantees may work to connect informal and formal markets.


Conclusion

Conclusion

Build social, human and physical capital

Build and develop institutions

Link formal and informal institutions (ex. Fin.)

Gradual and broad changes

Local initiatives/actions are crucial

Cooperation and inspiration


Remittances billion us dollar 2008

Remittances, billion US dollar 2008


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