Household Savings and Residential Mobility in Informal Settlements

Strategies to help the one billion people worldwide who live in informal settlements have mainly focused on slum upgrading, sites and services programs, and tenure security. In contrast, there has been less attention on what enables slum dwellers to transition into the formal housing sector, which has the dual benefits of improving service access and escaping social stigma. In this paper the authors investigate residential mobility among slum dwellers in Bhopal, India. Their analysis shows that one in five households succeeds in getting out of a slum settlement, and a major determinant is the household's ability to save on a regular basis. Due to limited outreach of institutional housing finance, most slum dwellers rely solely on household savings for purchasing a house. These findings underscore the urgent need to improve savings instruments for slum dwellers and to downmarket housing finance to reach the poorest residents of rapidly growing cities in developing countries.

Bibliographic Details

Main Authors:	Suri, Ajay, Lall, Somik V., Deichmann, Uwe
Language:	English
Published:	World Bank, Washington, DC 2005-05
Subjects:	ACCESS TO INFRASTRUCTURE, ANALYTICAL APPROACH, BASIC SERVICES, CITIES, COMMERCIAL BORROWING, COMMUNITIES, CONSOLIDATION, CONSTRUCTION, COOPERATIVE HOUSING, CRIME, DWELLING, DWELLING UNITS, DWELLINGS, EMPLOYMENT, FEMALES, FINANCIAL INSTITUTIONS, GENDER, HABITAT, HAZARD, HOME OWNERSHIP, HOMES, HOUSEHOLDS, HOUSING, HOUSING DEMAND, HOUSING DEVELOPMENT, HOUSING DEVELOPMENTS, HOUSING FINANCE, HOUSING MARKET, HOUSING MARKETS, HOUSING POLICY, HOUSING POLICY REFORM, HOUSING PRICES, HOUSING SUPPLY, HOUSING UNITS, HUMAN SETTLEMENTS, INFORMAL HOUSING, INFORMAL SETTLEMENTS, INFRASTRUCTURE SERVICES, INTERVENTION, LAND MARKET, LAND TITLING, LAND USE, LAND USE REGULATIONS, LAWS, LIVING CONDITIONS, LOCAL GOVERNMENTS, LOW- INCOME HOUSEHOLDS, MICROFINANCE, MORAL HAZARD, NATIVES, NEIGHBORHOOD, OCCUPANCY, PERSONAL SAVINGS, PRIVATE DEVELOPERS, PRIVATE HOUSING, PROPERTY RIGHTS, PUBLIC HOUSING, PUBLIC POLICY, PUBLIC SERVICES, REGULATORY REFORM, RESETTLEMENT, RESIDENCES, RESIDENTIAL MOBILITY, RESOURCE MOBILIZATION, SAFETY, SANITATION, SAVINGS, SAVINGS ACCOUNTS, SAVINGS BEHAVIOR, SETTLEMENT, SLUM AREAS, SLUM UPGRADING, SLUMS, SMALL TOWNS, SQUATTER SETTLEMENT, SQUATTER SETTLEMENTS, TEMPORARY SHELTER, TOWNS, TRANSACTION COSTS, URBAN AREAS, URBAN POOR, URBAN POPULATION, URBAN STUDIES, URBAN UPGRADING, URBAN UPGRADING PROJECTS,
Online Access:	http://documents.worldbank.org/curated/en/2005/05/5800545/household-savings-residential-mobility-informal-settlements https://hdl.handle.net/10986/8946
Tags:	Add Tag No Tags, Be the first to tag this record!