Understanding the Privatization in Housing in the Global Context

Abstract

The world is urbanizing at a fast pace, and housing is one of the basic requirements of mankind. The continuous increase in population keeps generating demand for additional housing, particularly in urban areas. The natural growth of population and migration act as the main drivers behind the increased population pressure in urban areas. In the early twentieth century, the public sector assumed sole responsibility for providing housing to all sections of society. However, this led to an increased burden on public resources. Privatization in housing was therefore considered an alternative to accelerate housing delivery as well as to reduce the burden on the public sector. The present paper discusses urbanization and housing status in a global context and the emergence of privatization in housing. It also examines the efforts made by different countries, including the case of the U.K., the U.S.A., Germany, Chile, Canada, China, Bangladesh, Malaysia, and Russia, to introduce privatization in the housing sector.