Beyond homeownership social rental models as a response to housing the unhoused

For many unsheltered people, home ownership is not always the adequate response to meeting their immediate housing needs. In some cases, exhaustive requirements and financial burden make ownership unattainable. The permanence of ownership provides little space for mobility among working populations. Social rental models are an alternative which alleviates shelter needs whilst providing flexibility for mobility and opportunity for graduation towards homeownership. It is increasingly recognized by emerging economies and development partners. From India to Brazil, national housing entities have begun to explore innovative ways to promote social rental housing alternatives. This session will present the value of social rental housing providing policy perspectives from India, Korea and Brazil, highlighting replicable pathways for market-making finance to expand social rental housing supply in India and Brazil, understanding of medium and long term objectives through Korea’s graduation approach, and present the supporting roles MDB’s can play in the provision of social rental housing. This session will provide an emerging markets perspective on the development of social rental housing through two complimentary case studies: 1. India: Ministry of Housing and Urban Affairs has put forward an ambitious program of Housing 4 all, which recognizes the value and importance of rental options as a solution to the housing crisis. Specifically, in Tamil Nadu, Tamil Nadu Shelter Fund (TNSF)— a thematic affordable housing “impact” fund that mobilizes capital and shares risk with developers through equity, debt, and hybrid instruments. It supports affordable housing supply, including rental products (industrial worker rental, student/working women hostels, etc.), and helps position rental housing as an investable asset class for developers and investors. 2. Brazil: After a long successful history of Minha Casa, Minha Vida, Brazil’s home ownership program, the Ministry of Housing has recognized the importance of alternative homeownership pathways – such as social rental housing- in their Housing 4 all efforts. The ministry has recently launched “Live in the Downtown” a new public private partnership aimed at the development of social rental housing in central areas of Recife, Brazil for low-income populations. The session will be complemented by commentary from IDB, ADB and OECD on the role MDB’s can play in promoting and enabling social rental housing programs.