Financing affordable social housing in Europe (UN-Habitat, 2009)

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​

Summary:

• 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