Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis

This paper estimates slum residents willingness to pay for formalized land tenure in Pune, India. In so doing, it offers evidence that the legal assurance of slum residents occupancy of their lands could benefit them. Previous studies have discusse...

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Main Author:	Nakamura, Shohei
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	THREAT OF EVICTION HOME OWNERSHIP URBAN LAND MANAGEMENT LOCAL POLITICIANS HOUSING UNITS URBANIZATION EVICTIONS SLUM UPGRADING PROVISION OF INFRASTRUCTURE SELF-HELP SHELTER INCOME INFORMAL HOUSING BUILDINGS EMPLOYMENT OPPORTUNITIES PUBLIC SECTOR PROPERTY RIGHTS HOUSING RENT SERVICES WATER TAPS INFRASTRUCTURE DEVELOPMENT HOUSING LOW-INCOME HOUSING POLITICAL ECONOMY NEIGHBORHOOD HEALTH POOR PEOPLE URBAN LAND PROJECT CITIES SECURE TENURE LAND TENURE VACANT LAND SETTLEMENTS PUBLIC HOUSING PUBLIC POLICY STATES SLUM IMPROVEMENT EVICTION LAND TITLING AIC URBANISM SQUATTER ACCESS TO FORMAL CREDIT HOUSING ECONOMICS RENT RESIDENTIAL ZONES CONSTRUCTION CITY DEVELOPMENT RESIDENCES URBAN LAND TENURE MARKETS SELF-HELP HOUSING CITY AREA SETTLEMENT LAND OWNERSHIP LEGAL TENURE URBAN LAND TENURE POLICY SUBURBS HOUSING MARKET HOUSING CONDITIONS PAVEMENT DWELLERS LIBRARY REAL ESTATE FINANCE PUBLIC DESIGN LAND USE INSTITUTIONAL REFORMS MUNICIPAL CORPORATION SQUATTERS SLUM IMPROVEMENT PROJECT SLUM AREAS TENURE SECURITY SLUM AREA PROPERTY RIGHT MUNICIPAL GOVERNMENT URBAN PLANNING STATE GOVERNMENT RESETTLEMENT INFORMAL SETTLEMENTS SLUM RESIDENTS SLUM POPULATION HOUSING CONSTRUCTION HOUSING DEVELOPMENT GOVERNMENT EMPLOYEES SLUM REPORTS OCCUPATION URBAN AREAS HOUSEHOLD REAL ESTATE FINANCE PROPERTY HABITAT SOCIAL HOUSING HOUSING RIGHTS LOW-INCOME MARKET URBAN POOR PRIVATE DEVELOPERS SOCIAL CAPITAL ACCESS TO ELECTRICITY SLUMS LAND INFORMAL SETTLEMENT RESIDENTIAL AREAS HOUSEHOLDS HOUSING MARKETS ACCESS TO SERVICES RURAL AREAS HOUSING IMPROVEMENTS DWELLER OCCUPANCY ZONING HOUSES BUILDING LIVING CONDITIONS URBAN SLUMS INTERVENTIONS SQUATTER SETTLEMENTS COMMUNITY HOME IMPROVEMENT TENURE STATUS SAFETY URBAN POPULATION FORMAL CREDIT FEMALE COUNCILORS LAND MANAGEMENT NEW SLUMS URBAN STUDIES SQUATTING
Online Access:	http://documents.worldbank.org/curated/en/2015/12/25726703/tenure-security-premium-informal-housing-markets-spatial-hedonic-analysis http://hdl.handle.net/10986/23627

id	okr-10986-23627
recordtype	oai_dc
spelling	okr-10986-236272021-04-23T14:04:16Z Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis Nakamura, Shohei THREAT OF EVICTION HOME OWNERSHIP URBAN LAND MANAGEMENT LOCAL POLITICIANS HOUSING UNITS URBANIZATION EVICTIONS SLUM UPGRADING PROVISION OF INFRASTRUCTURE SELF-HELP SHELTER INCOME INFORMAL HOUSING BUILDINGS EMPLOYMENT OPPORTUNITIES PUBLIC SECTOR PROPERTY RIGHTS HOUSING RENT SERVICES WATER TAPS INFRASTRUCTURE DEVELOPMENT HOUSING LOW-INCOME HOUSING POLITICAL ECONOMY NEIGHBORHOOD HEALTH POOR PEOPLE URBAN LAND PROJECT CITIES SECURE TENURE LAND TENURE VACANT LAND SETTLEMENTS PUBLIC HOUSING PUBLIC POLICY STATES SLUM IMPROVEMENT EVICTION LAND TITLING AIC URBANISM SQUATTER ACCESS TO FORMAL CREDIT HOUSING ECONOMICS RENT RESIDENTIAL ZONES CONSTRUCTION CITY DEVELOPMENT RESIDENCES URBAN LAND TENURE MARKETS SELF-HELP HOUSING CITY AREA SETTLEMENT LAND OWNERSHIP LEGAL TENURE URBAN LAND TENURE POLICY SUBURBS HOUSING MARKET HOUSING CONDITIONS PAVEMENT DWELLERS LIBRARY REAL ESTATE FINANCE PUBLIC DESIGN LAND USE INSTITUTIONAL REFORMS MUNICIPAL CORPORATION SQUATTERS SLUM IMPROVEMENT PROJECT SLUM AREAS TENURE SECURITY SLUM AREA PROPERTY RIGHT MUNICIPAL GOVERNMENT URBAN PLANNING STATE GOVERNMENT RESETTLEMENT INFORMAL SETTLEMENTS SLUM RESIDENTS SLUM POPULATION HOUSING CONSTRUCTION HOUSING DEVELOPMENT GOVERNMENT EMPLOYEES SLUM REPORTS OCCUPATION URBAN AREAS HOUSEHOLD REAL ESTATE FINANCE PROPERTY HABITAT SOCIAL HOUSING HOUSING RIGHTS LOW-INCOME MARKET URBAN POOR PRIVATE DEVELOPERS SOCIAL CAPITAL ACCESS TO ELECTRICITY SLUMS LAND INFORMAL SETTLEMENT RESIDENTIAL AREAS HOUSEHOLDS HOUSING MARKETS ACCESS TO SERVICES RURAL AREAS HOUSING IMPROVEMENTS DWELLER OCCUPANCY ZONING HOUSES BUILDING LIVING CONDITIONS URBAN SLUMS INTERVENTIONS SQUATTER SETTLEMENTS COMMUNITY HOME IMPROVEMENT TENURE STATUS SAFETY URBAN POPULATION FORMAL CREDIT FEMALE COUNCILORS LAND MANAGEMENT NEW SLUMS URBAN STUDIES SQUATTING This paper estimates slum residents willingness to pay for formalized land tenure in Pune, India. In so doing, it offers evidence that the legal assurance of slum residents occupancy of their lands could benefit them. Previous studies have discussed legal and non-legal factors that substantially influence the tenure security of residents in informal settlements. However, it remains unclear to what extent, and how, the assignment of legal property rights through the formalization of land tenure improves the tenure security of residents in informal settlements and living conditions, even in the presence of other legal and non-legal factors that also contribute to their tenure security. To address the question, this study focuses on the city of Pune, India, where government agencies have formalized slums by legally ensuring the occupancy of the residents under slum declaration. Applying a hedonic price model to an original household survey, this paper investigates how slum residents evaluate formalized land tenure. A spatial econometrics method is also applied to account for spatially autocorrelated unobserved errors. The spatial hedonic analysis finds that the premium of slum declaration is worth 19 percent of the average housing rent in slums. The associated marginal willingness to pay is equivalent to 6 percent of the average household expenditure, although it is heterogeneous depending on a households caste and other legal conditions. This finding suggests that the assurance of occupancy rights is a vital component of land-tenure formalization policy even if it does not directly provide full property rights. 2016-01-12T22:09:38Z 2016-01-12T22:09:38Z 2015-12 Working Paper http://documents.worldbank.org/curated/en/2015/12/25726703/tenure-security-premium-informal-housing-markets-spatial-hedonic-analysis http://hdl.handle.net/10986/23627 English en_US Policy Research Working Paper;No. 7526 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research South Asia India
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	THREAT OF EVICTION HOME OWNERSHIP URBAN LAND MANAGEMENT LOCAL POLITICIANS HOUSING UNITS URBANIZATION EVICTIONS SLUM UPGRADING PROVISION OF INFRASTRUCTURE SELF-HELP SHELTER INCOME INFORMAL HOUSING BUILDINGS EMPLOYMENT OPPORTUNITIES PUBLIC SECTOR PROPERTY RIGHTS HOUSING RENT SERVICES WATER TAPS INFRASTRUCTURE DEVELOPMENT HOUSING LOW-INCOME HOUSING POLITICAL ECONOMY NEIGHBORHOOD HEALTH POOR PEOPLE URBAN LAND PROJECT CITIES SECURE TENURE LAND TENURE VACANT LAND SETTLEMENTS PUBLIC HOUSING PUBLIC POLICY STATES SLUM IMPROVEMENT EVICTION LAND TITLING AIC URBANISM SQUATTER ACCESS TO FORMAL CREDIT HOUSING ECONOMICS RENT RESIDENTIAL ZONES CONSTRUCTION CITY DEVELOPMENT RESIDENCES URBAN LAND TENURE MARKETS SELF-HELP HOUSING CITY AREA SETTLEMENT LAND OWNERSHIP LEGAL TENURE URBAN LAND TENURE POLICY SUBURBS HOUSING MARKET HOUSING CONDITIONS PAVEMENT DWELLERS LIBRARY REAL ESTATE FINANCE PUBLIC DESIGN LAND USE INSTITUTIONAL REFORMS MUNICIPAL CORPORATION SQUATTERS SLUM IMPROVEMENT PROJECT SLUM AREAS TENURE SECURITY SLUM AREA PROPERTY RIGHT MUNICIPAL GOVERNMENT URBAN PLANNING STATE GOVERNMENT RESETTLEMENT INFORMAL SETTLEMENTS SLUM RESIDENTS SLUM POPULATION HOUSING CONSTRUCTION HOUSING DEVELOPMENT GOVERNMENT EMPLOYEES SLUM REPORTS OCCUPATION URBAN AREAS HOUSEHOLD REAL ESTATE FINANCE PROPERTY HABITAT SOCIAL HOUSING HOUSING RIGHTS LOW-INCOME MARKET URBAN POOR PRIVATE DEVELOPERS SOCIAL CAPITAL ACCESS TO ELECTRICITY SLUMS LAND INFORMAL SETTLEMENT RESIDENTIAL AREAS HOUSEHOLDS HOUSING MARKETS ACCESS TO SERVICES RURAL AREAS HOUSING IMPROVEMENTS DWELLER OCCUPANCY ZONING HOUSES BUILDING LIVING CONDITIONS URBAN SLUMS INTERVENTIONS SQUATTER SETTLEMENTS COMMUNITY HOME IMPROVEMENT TENURE STATUS SAFETY URBAN POPULATION FORMAL CREDIT FEMALE COUNCILORS LAND MANAGEMENT NEW SLUMS URBAN STUDIES SQUATTING
spellingShingle	THREAT OF EVICTION HOME OWNERSHIP URBAN LAND MANAGEMENT LOCAL POLITICIANS HOUSING UNITS URBANIZATION EVICTIONS SLUM UPGRADING PROVISION OF INFRASTRUCTURE SELF-HELP SHELTER INCOME INFORMAL HOUSING BUILDINGS EMPLOYMENT OPPORTUNITIES PUBLIC SECTOR PROPERTY RIGHTS HOUSING RENT SERVICES WATER TAPS INFRASTRUCTURE DEVELOPMENT HOUSING LOW-INCOME HOUSING POLITICAL ECONOMY NEIGHBORHOOD HEALTH POOR PEOPLE URBAN LAND PROJECT CITIES SECURE TENURE LAND TENURE VACANT LAND SETTLEMENTS PUBLIC HOUSING PUBLIC POLICY STATES SLUM IMPROVEMENT EVICTION LAND TITLING AIC URBANISM SQUATTER ACCESS TO FORMAL CREDIT HOUSING ECONOMICS RENT RESIDENTIAL ZONES CONSTRUCTION CITY DEVELOPMENT RESIDENCES URBAN LAND TENURE MARKETS SELF-HELP HOUSING CITY AREA SETTLEMENT LAND OWNERSHIP LEGAL TENURE URBAN LAND TENURE POLICY SUBURBS HOUSING MARKET HOUSING CONDITIONS PAVEMENT DWELLERS LIBRARY REAL ESTATE FINANCE PUBLIC DESIGN LAND USE INSTITUTIONAL REFORMS MUNICIPAL CORPORATION SQUATTERS SLUM IMPROVEMENT PROJECT SLUM AREAS TENURE SECURITY SLUM AREA PROPERTY RIGHT MUNICIPAL GOVERNMENT URBAN PLANNING STATE GOVERNMENT RESETTLEMENT INFORMAL SETTLEMENTS SLUM RESIDENTS SLUM POPULATION HOUSING CONSTRUCTION HOUSING DEVELOPMENT GOVERNMENT EMPLOYEES SLUM REPORTS OCCUPATION URBAN AREAS HOUSEHOLD REAL ESTATE FINANCE PROPERTY HABITAT SOCIAL HOUSING HOUSING RIGHTS LOW-INCOME MARKET URBAN POOR PRIVATE DEVELOPERS SOCIAL CAPITAL ACCESS TO ELECTRICITY SLUMS LAND INFORMAL SETTLEMENT RESIDENTIAL AREAS HOUSEHOLDS HOUSING MARKETS ACCESS TO SERVICES RURAL AREAS HOUSING IMPROVEMENTS DWELLER OCCUPANCY ZONING HOUSES BUILDING LIVING CONDITIONS URBAN SLUMS INTERVENTIONS SQUATTER SETTLEMENTS COMMUNITY HOME IMPROVEMENT TENURE STATUS SAFETY URBAN POPULATION FORMAL CREDIT FEMALE COUNCILORS LAND MANAGEMENT NEW SLUMS URBAN STUDIES SQUATTING Nakamura, Shohei Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
geographic_facet	South Asia India
relation	Policy Research Working Paper;No. 7526
description	This paper estimates slum residents willingness to pay for formalized land tenure in Pune, India. In so doing, it offers evidence that the legal assurance of slum residents occupancy of their lands could benefit them. Previous studies have discussed legal and non-legal factors that substantially influence the tenure security of residents in informal settlements. However, it remains unclear to what extent, and how, the assignment of legal property rights through the formalization of land tenure improves the tenure security of residents in informal settlements and living conditions, even in the presence of other legal and non-legal factors that also contribute to their tenure security. To address the question, this study focuses on the city of Pune, India, where government agencies have formalized slums by legally ensuring the occupancy of the residents under slum declaration. Applying a hedonic price model to an original household survey, this paper investigates how slum residents evaluate formalized land tenure. A spatial econometrics method is also applied to account for spatially autocorrelated unobserved errors. The spatial hedonic analysis finds that the premium of slum declaration is worth 19 percent of the average housing rent in slums. The associated marginal willingness to pay is equivalent to 6 percent of the average household expenditure, although it is heterogeneous depending on a households caste and other legal conditions. This finding suggests that the assurance of occupancy rights is a vital component of land-tenure formalization policy even if it does not directly provide full property rights.
format	Working Paper
author	Nakamura, Shohei
author_facet	Nakamura, Shohei
author_sort	Nakamura, Shohei
title	Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
title_short	Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
title_full	Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
title_fullStr	Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
title_full_unstemmed	Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
title_sort	tenure security premium in informal housing markets : a spatial hedonic analysis
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2015/12/25726703/tenure-security-premium-informal-housing-markets-spatial-hedonic-analysis http://hdl.handle.net/10986/23627
_version_	1764454370862170112

Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis

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