07 Oct 2017
The study estimates housing demand and the probability of homeownership in the Philippines. Through an empirical analysis of household-level data in 2009, the research examines the price and income elasticities of both homeowners and renter-households in the country. Addressing the difficulty of measuring housing prices accurately, the researchers apply a two-equation model comprised of tenure choice and housing demand functions with price, income, and family size as the main explanatory variables.
Further, the paper evaluates the effectiveness of housing subsidy programs in the Philippines.