Housing is Essential for Economic Development


Housing is a key input in economic, social, and civic development. 

Many housing-related
activities contribute directly to achieving broader socioeconomic development goals. 

Housing investment is a major driver of economic growth. Better data permits more precise estimates in developed countries, but the same overall effect is true in developing countries.

Lending for housing helps develop primary and secondary financial markets. Worldwide and especially in low-income countries, housing construction creates job opportunities for migrants to cities. Legalization of informal settlements and registration of housing and other real property helps “unlock” fixed capital for productive investment and builds local property tax bases.

On the social side, housing is, after food and medical care, the first need of vulnerable populations following natural and man-made disasters. In better times, good housing builds wealth by appreciating in value, providing a hedge against inflation, providing secure premises for income-generating activities, and opening the door to credit. 

Incremental investment in housing allows poor families to improve their asset base over time, as resources become available. And clean, warm housing is an essential input for prevention and care of diseases of poverty like HIV/ AIDS, tuberculosis, diarrhea, and malaria.

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