Financing affordable social housing in Europe
The principal author is Michael Oxley. Published by UN-Habitat in 2009
Available as a PDF file on the International Union of Tenants site: http://www.iut.nu/wp-content/uploads/2017/07/Financing-Affordable-Social-Housing-in-Europe.pdf
This report evaluates the range of approaches to financing social housing that are in operation in Europe.
It identifies the key features that may be replicable in other countries particularly the developing world.
The evaluation is placed in the context of
the purpose of social housing,
the sources of funds of social housing
and the institutions that are used to provide social housing.
The size and composition of the social housing stock in different countries and the types of provider are identified.
The importance of the rent setting method and the allocation system are explained.
The relationships between public and private sources of funds and the conditions that promote a flow of commercial funding into social housing are identified.
The structure of European social housing finance systems and the roles of loans, subsidies and equity financing are explored.
Finance for construction and maintenance is considered and subsidies from public funds as well as cross-subsidies from other sectors of the economy are explored.
The effectiveness of social housing finance systems in achieving their purpose and the issues that influence the transferability of European approaches to other countries are discussed.
Keywords: housing crisis, affordability, social housing, financialisation of housing