Among the EU Member States, the proportion of people living in flats in 2018 was at least 60.0 % in Latvia (66.2 %), Spain (64.9 %), Estonia (61.5 %) and Greece (60.6 %), and just below this level in Lithuania (59.5 %); a similarly high proportion of people also lived in flats in Switzerland (62.5 %). The President, Nana Akufo-Addo says his government is working to address the country’s housing deficit. As at January 2020, housing deficit in Nigeria is estimated to be 22miliion, according to Shelter Afrique. MultiUn . Housing deficit in Peru by department, 2005. In addition to overcrowding, some other aspects of housing deprivation — such as the lack of a bath or a toilet, a leaking roof in the dwelling, or a dwelling considered to be too dark — are included in the indicator of housing quality. At the other extreme, two out of every five persons (39.5 %) in Greece and more than one in six (17.9 %) of the population in Bulgaria spent more than 40 % of their equivalised disposable income on housing, as did around one in seven persons in Denmark (14.7 %) and Germany (14.2 %). Many translated example sentences containing "country's housing deficit" – Spanish-English dictionary and search engine for Spanish translations. In 2018, one quarter (24.9 %) of the EU-27 population lived in an owner-occupied home with a mortgage or loan, while more than two fifths (45.1 %) of the population lived in an owner-occupied home without a loan or mortgage (see Figure 2). The country is facing a housing deficit of well over one million houses (GoG/MWRWH, 2012). Looking at the tenure status with the highest proportion of the population where housing costs exceeded 40 % of their disposable income, namely tenants with market price rents, there were also large differences between the EU Member States. In 2018, there were six Member States where more than one third of the population living as tenants with market price rents spent more than 40% of their equivalised disposable income on housing, with this proportion of the population exceeding two fifths in Romania (46.3 %) and Hungary (46.9 %), reaching half in Bulgaria (50.1 %) and exceeding four fifths (83.1 %) in Greece. Addressing Obstacles to Affordable Housing: In addition to the finance side that affects the demand, affordability reflects the cost of housing and its supply, so increasingly, we work on various supply side issues: titling, land use and land infrastructure issues, construction finance, and housing policies including supply subsidies. A recent data states that about 25,000 people from across the world come into Lagos for various reasons on a daily basis. At the other end of the range, Malta (12.1 %), Latvia (11.5 %) and Cyprus (11.3 %) reported the lowest housing cost overburden rates for tenants with market price rents. Kindly Share This Story: Despite the fact that Nigeria’s real estate sector is evolving at a tremendous pace, the sector is still beset by several challenges which have hampered it from realising its true potentials. Chambers. PDF | On Jan 1, 2016, Bujang ahmad Ariffian and others published Major Factors Causing Housing Deficit in Ghana | Find, read and cite all the research you need on ResearchGate Addressing this challenge requires large-scale investment in housing production. as listed in the CIA World Factbook. These were the only Member States where two fifths or more of the population lived in semi-detached houses. Downside Risks to House Prices. The overall proportion of people within the EU-27 experiencing severe housing deprivation fell slightly between 2017 and 2018, down 0.2 percentage points. The severe housing deprivation rate is defined as the percentage of the population living in a dwelling which is considered to be overcrowded, while having at the same time at least one of these aforementioned housing deprivation measures. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Government Budget. ARG Medios: What brings people to occupy land? Clearly, the State’s sporadic growth has not been proportionate with the housing stock available to the residents. In the Netherlands (60.5 %) and Sweden (51.7 %), more than half of the population lived in owner-occupied dwellings with a mortgage or loan; this was also the case in Iceland (63.9 %, 2016 data) and Norway (60.1 %). If concerted efforts are not urgently put in place to address Nigeria's housing deficit, which has continued to increase astronomically, it may grow to 25 million by the end of this year. It is estimated that there are about 165,000 people working within the public sector with an estimated average salary of GH¢1,000. Nevertheless, many of the EU Member States face similar challenges, for example: how to renew housing stocks, how to plan and combat urban sprawl, how to promote sustainable development, how to help young and disadvantaged groups enter the housing market, or how to promote energy efficiency among homeowners. More than half of the population in each EU Member State lived in owner-occupied dwellings in 2018, ranging from 51.4 % in Germany up to 96.4 % in Romania. Financing housing, whether purchased or rented, is a major issue for many households, often linked to housing quality. The country’s present housing deficit is estimated at a staggering 20million units, requiring about N59.5 trillion to finance. A country that runs a large current account or trade deficit (i.e., importing more than it exports) must ultimately be a net importer of capital; this is a mathematical identity called the balance of payments. News. The share of the population that lived in rented dwellings with a market price rent was even higher in Switzerland where it exceeded half (51.1 %). Housing deficit: How we are taking the real estate by storm —Ezenagu, Esso properties bo. By contrast, in Switzerland, the proportion of people who lived in rented dwellings outweighed those living in owner-occupied dwellings, as some 57.5 % of the population were tenants. Among the EU Member States, the largest increases in the proportion of people experiencing severe housing deprivation were reported for France, where the rate increased by 0.6 percentage points between 2017 and 2018, as well as Denmark, Germany and Spain, where the rate increased by 0.5 percentage points. This page was last modified on 10 September 2020, at 08:32. We partner with government agencies, corporations, NGOs and faith-based groups to build homes, new lives and new jobs. Providing people with access to decent and affordable housing is one of the targets under the Sustainable Development Goal 11, which focuses on making cities sustainable. This is a list of the 20 countries and territories with the largest deficit in current account balance (CAB), based on data from 2017 est. In 2018, 17.1 % of the EU-27 population lived in overcrowded dwellings. Listen to the podcast. The World Bank has also estimated the cost of bridging Nigeria’s 17 million housing deficit … Blog: Managing House Price Booms in Emerging Markets, Seven Questions on the Global Housing Markets, Blog: Era of Benign Neglect of House Price Booms is Over, New Global Housing Watch Throws Spotlight on Booms and Busts, Speech: Housing Markets, Financial Stability and the Economy, International Symposium on Housing and Financial Stability in China, Housing Markets, Financial Stability and Growth, Housing Markets and the Macroeconomy: Challenges for Monetary Policy and Financial Stability, Housing, Stability and the Macroeconomy: International Perspectives. A relatively large decrease (down 3.4 percentage points) was also observed in Serbia. The Global Housing Watch tracks developments in housing markets across the world on a quarterly basis. “Figures from the Ghana Statistical Service indicate a deficit of 1.7 million housing units, which is projected to hit about two million even before 2020,” he told Business Day Ghana at a Real Estate forum organized by the Canada-Ghana Chamber of Commerce in Accra. The country’s housing deficit as of December 2018 was estimated at a staggering 20 million units which is about 15.0 percent increase from the figures in January 2017. The EU-27 average masks significant differences between the EU Member States: at one extreme there was a number of countries where a relatively small proportion of the population lived in households where housing costs exceeded 40 % of their disposable income in 2018, notably Malta (1.7 %) and Cyprus (2.0 %). Within this context, a European Council meeting in Nice in 2000, reached an agreement on a set of common objectives for the EU’s strategy against poverty and social exclusion, including two objectives related to housing, namely ’to implement policies which aim to provide access for all to decent and sanitary housing, as well as basic services necessary to live normally having regard to local circumstances (electricity, water, heating, etc. By contrast, about two fifths of the population in Germany (40.8 %) and Denmark (39.4 %) lived in rented dwellings with a market price rent, as did more than one third of the population in Sweden (35.0 %), around three tenths of the population in the Netherlands (30.2 %) and Austria (29.7 %), and around one fifth in Luxembourg (23.4 %), Greece (21.3 %) and Belgium (19.4 %). This figure has matter of fact has kept compounding annually due to government inability over the years to develop schemes to meet the housing needs of the people as opined by Mahama and Antwi, (2006). But if you assumed the housing deficit as often quoted is 1.7 million housing units, think again! OPINION. A majority of the population in each EU-27 Member State lived in owner-occupied dwellings in 2018, this share ranging from 51.4 % in Germany to 96.4 % in Romania; the EU-27 average was 70.0 %. housing deficits, of which the most prevalent were lack of access to at least one basic service (16%), lack of security of tenure (11%), deficient structure or construction materials (7%), overcrowding (4%), and dilapidated houses (6%) that are either unsuitable for living or shared with another household. Several other figures of the housing deficit in Ghana are also frequently quoted in the media. hana’s housing deficit is a problem which is spawned and fuelled by host of factors notably, ever increasing cost of building materials, rapid population growth, urbanization, deterioration of fabric of existing structures, absence of clear sustainable housing delivery policy framework and poor managerial system (Kwofie et al., 2011). House building recommendations set by Barker Review (270,000 p/a) in 2004 have never been met. Estimates of the magnitude vary, but there is no question that the current deficit is in the hundreds of thousands of units in each of the smallest countries in the region, and more than 15 million units in Nigeria. This page provides values for Government Debt to GDP reported in several countries. This page has been accessed 339,785 times. Migration is on the front burner these days. UK growing housing deficit stands at 1.2m properties. The share of the population living in a dwelling with a reduced price rent or occupying a dwelling free of charge was less than 20.0 % in all of the EU Member States and the eight non-member countries for which data are shown. So, why is Nigeria not able to build more houses … Dr. Orleans argues that Ghana’s deficit can be solved with Social Housing instead of continued affordable housing schemes. The Global Housing Watch tracks developments in housing markets across the world on a quarterly basis. Media Centre UK growing housing deficit stands at 1.2m properties. The qualitative housing deficit refers to those dwellings whose standards qualify them as inadequate housing. Cyprus (2.5 %), Ireland (2.7 %), Malta (3.4 %), the Netherlands (4.1 %) and Spain (4.7 %) recorded the lowest rates of overcrowding, all below 5.0 %, while seven other EU Member States, as well as the United Kingdom, Norway, Switzerland and Iceland (2016 data) reported less than 10.0 % of their respective populations living in overcrowded dwellings. Housing deficit in Peru by department, 2005. North Macedonia (74.6 %), Serbia (63.6 %) and Norway (57.5 %) also reported that high proportions of their populations lived in detached houses. The data used in this article are primarily derived from micro data from EU statistics on income and living conditions (EU-SILC). 12 July 2016. According to him, tackling the issue was long overdue, stressing, “Mr. by Urowayino Jeremiah. It represents the cost of a basic human need—shelter. Average number of homes built each year between 2008 and 2015 is 30% below pre-crisis levels. The reference population is all private households and their current members residing in the territory of an EU Member State at the time of data collection; persons living in collective households and in institutions are generally excluded from the target population.
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