Determinants of housing starts in the Philippines: a stock-flow model
Date
2016-12
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Abstract
The Philippines has experienced a large housing deficit over the years. One of the
major causes of low housing supply has been high housing costs brought about by high
construction costs relative to wages (Ballesteros 2002, 5). This paper investigates the
various factors affecting housing starts in the different regions of the country from 2006
to 2014. Using a stock–flow model, this paper finds that construction cost, wages,
lending rates, population, topography and typhoon vulnerability, but not total income,
significantly induce a shift in the supply schedule of new residential construction projects
in the country.
Description
Keywords
housing, Philippines