A core focus of the Terwilliger Center for Innovation in Shelter is advancing the knowledge around housing markets by conducting research studies, creating publications, developing tool kits and scheduling public appearances that foster impact in the sector.
Browse our key publications below, from introductory notes for those interested in learning more about global housing markets to technical guides designed for practitioners.
Housing Microfinance Handbook
Case studies and sector reports
Housing Microfinance Impact Assessment: Improving Quality of Life
Beginning in 2015, Sunrise MCF partnered with Habitat’s Terwilliger Center to improve and expand their housing microfinance products. This new report examines the impact of two products – energy efficiency and home improvement loans – on low-income borrowers’ quality of life.
Cornerstone of Recovery: How Housing Can Help Emerging Market Economies Rebound from COVID-19 (English | Spanish)
This report documents housing’s true contribution to gross domestic product by analyzing 11 emerging market countries, where evidence on the total size of housing investments is often lacking. It explores the potential underestimation of the housing sector by official statistics and examines whether the housing sector could support economic recovery while creating safer, healthier housing for low-income households. The report offers inclusive housing proposals for the public and private sector to respond to COVID-19.
Exploring the adoption of housing microfinance within the Georgian market
Institutions that received capital and technical assistance from the MicroBuild Fund often subsequently scale their housing portfolios. This publication explores the question: Has the success of MicroBuild Fund investee institutions yielded a crowding-in effect, whereby non-MicroBuild Fund financial institutions adopted and scaled housing microfinance products?
The Business Case for Housing Microfinance Sub-Saharan Africa
This publication looks at the demand for housing microfinance, its value proposition and the competitive advantage of differentiated housing microfinance products. It identifies factors key to the success and profitability of housing microfinance products, based on analysis of the work of Uganda’s Centenary Bank and Kenya Women Microfinance Bank.
Beyond Building: How Social Norms Shape Low-Income Home Construction (Executive summary | Kenya | India| Peru)
This three country research gathers insights on how social norms influence housing decision-making and encourages change-makers to look beyond the obvious obstacles that low-income homeowners face — poor land tenure, lack of financing, access to materials and design advice — to less obvious obstacles, such as unhealthy social norms and poor information flows that greatly impede housing outcomes.
- Women’s work and men’s decisions: Gender norms in low-income homebuilding (.pdf)
- Preparing for the worst: How low-income household and mason attitudes on home construction affect disaster resilience (.pdf)
- Hand in hand with homeowners: How mason’s norms and practices affect low-income home construction in India, Kenya and Peru (.pdf)
The 2016-17 State of Housing Microfinance: Understanding the Business Case for Housing Microfinance (.pdf) (English | Spanish)
This report, based upon a survey of over 101 housing microfinance practitioners, is composed of insights and findings regarding practitioners’ perceptions of the challenges and opportunities facing housing microfinance, successful implementation strategies and the performance of housing microfinance portfolios. Using a simple framework to analyze these responses at a regional and global level, we explore the market-level, institutional-level, product segmentation level and profitability drivers that make differentiated housing microfinance products a viable and attractive option for financial service providers.
State of Investment in Affordable Housing (.pdf) (English | Spanish)
This publication is based upon on the results of a survey conducted among leading impact investors from Europe and the USA in emerging and frontier markets, with a particular focus on: Investors’ current activity in housing, plans for investments into the sector, and opportunities and perceived risks from an investor’s perspective.
The 2015-16 State of Housing Microfinance: A Review of the Housing Microfinance Practice Around the Globe (English | Spanish)
Based upon responses from 83 financial institutions practicing housing microfinance, this second edition of the housing microfinance survey assesses the current state, trends and challenges of the global housing microfinance sector. This edition explores the nuances of housing microfinance portfolios as distinct from those of overall lending portfolios and includes a special focus on tenure security.
2014-15 State of Housing Microfinance report (.pdf)
This report assesses the current state, trends and challenges of housing microfinance based on a 2014 survey of 48 financial institutions located across four regions: Latin America and the Caribbean, Asia and the Pacific, Africa and the Middle East, and Eastern Europe and Central Asia.
Housing microfinance case studies of 11 Habitat partnerships (.pdf)
These cases, chosen from a variety of contexts, portray microfinance institutions at distinct stages of housing microfinance product implementation and scale-up, and feature 11 countries from four regions: Latin America, Africa, Asia and Europe.
Lessons from 11 partnerships of Habitat for Humanity (.pdf)
Case studies on housing microfinance topics such as opportunities and constraints, housing support services, product development and taking products to scale, from 11 of Habitat’s microfinance institution partners and their experiences with housing microfinance.
Shelter innovation highlights
Market systems concept note: August 2018 (.pdf)
Habitat for Humanity has worked through markets to improve access to finance for more than three million low-income households in the past decade, but numerous challenges related to construction materials, services, housing knowledge and policies remain. In this strategy document, Habitat’s Terwilliger Center for Innovation in Shelter lays out its market systems development approach to address these challenges.
Microsavings for housing finance: June 2017 (.pdf)
Habitat recently explored microsavings products for housing through a pilot program implemented by our Terwilliger Center for Innovation in Shelter, in partnership with the Citi Foundation. Five takeaways from the project, combined with previous research on microsavings, help to build a fuller understanding of what may and may not work in housing microsavings.
Alternatives to the RCT: Measuring impact in affordable housing programs: June 2017 (.pdf)
This brief introduces the methodology used by Habitat for Humanity’s Terwilliger Center for Innovation in Shelter in partnership with Oxfam Novib to assess two housing finance initiatives: one in Bosnia and Herzegovina and the other in El Salvador.
How can microfinance for housing, land and infrastructure catalyze slum improvements and new settlements? (.pdf)
This paper, co-written by the Terwilliger Center’s Patrick Kelley, discusses slums in large cities in the developing world and the critical role that housing microfinance plays in improving housing conditions for many of the slum’s marginalized households.
The role of property and shelter in financial inclusion
The Terwilliger Center’s Patrick Kelley talks about how many of the actors working to help households acquire and expand their property and shelter assets may not be clothed in the typical financial inclusion fashion. But, in the spirit of expanding the financial inclusion conversation, they have much to contribute.
Microfinance to mitigate substandard housing
This article presents evidence that supports the claims that housing microfinance is good business for financial institutions and is an effective method for empowering the poor to incrementally improve their housing conditions.
Capitalizing housing for the poor: Findings from five focus countries (.pdf)
This report seeks to inform the impact investment community, as well as the microfinance sector at large, about the opportunities and barriers for investment in the growth of housing microfinance in India, the Philippines, Peru, Uganda and Mexico.
Asia and the Pacific
Case study: Improving access to housing microfinance solutions among low-income households in the Philippines
This case study showcases the journey from product design and training to the pilot program’s end, highlighting the challenges, achievements and opportunities. The study is useful for all market actors such as financial intermediaries, investors, regulators, business consortiums and others interested in promoting adequate housing among low-income households.
Impact of COVID-19 on the low-income housing market systems in the Philippines
This study analyzes the economic and social impact of the COVID-19 pandemic on the housing market systems of low-income households in the Philippines, and the effectiveness of institutional support that has been planned and provided thus far to low-income housing market actors.
Clearing the housing backlog: An updated supply and demand study on the owner-driven construction segment in the Philippines (.pdf)
This study estimates the market size of the owner-driven construction housing segment in the Philippines, to understand the opportunities and positive impact of tapping this unserved population. Such information could support future investment and policy decisions among public, private and non-government organizations.
Leaving the city behind - Rapid assessment with migrant workers (.pdf)
This rapid market assessment examined the lives of Indian migrant workers at their place of work prior to a nationwide lockdown that was enacted following the COVID-19 pandemic, the changes that they encountered during the lockdown and their outlook beyond the lockdown.
Housing microfinance in practice: Lanka Orix Leasing Company in Cambodia (.pdf)
This case study, which looks at one of the leading microfinance institutions in Cambodia, provides insights on housing microfinance product development with particular focus on the support processes necessary to sustain this product, such as creating specialized positions and conducting staff trainings throughout the process.
Bahay, Buhay: A survey of disaster-prone areas in Cebu Province, Philippines (.pdf)
This is a survey of owner-driven housing construction, practices, financing modalities and aspirations for a resilient home in disaster-prone areas in Cebu Province, Philippines.
The Impact of Housing Microfinance: An Independent Institutional and Social Impact Evaluation of Two Housing Microfinance Products in South India (.pdf)
This assessment is intended to help us understand the positive and negative impact that access to housing microfinance loans has on low-income households and to chart a future course of action.
Lessons from Citi-Habitat Home Improvement Microsavings Program (.pdf)
This report explores the lessons from the Citi-Habitat Home Improvement Microsavings Pilot Program in the Philippines and Thailand.
Inclusive finance for housing: Exploring viable business models (.pdf)
This study is based on analysis of grants issued by USAID to three global networks, including Habitat for Humanity in India and discusses the challenges and opportunities in introducing housing microfinance and complementary services at scale.
Asia’s poor should be helped to save for a better home
According to Patrick McAllister, Terwilliger Center consultant and author of this op-ed for the South China Morning Post, smart regulations, new technology and incentives are some of the ways to help low-income families save for a better home.
Europe, the Middle East and Africa
Housing Microfinance and Tenure Security: Understanding Their Relationship in Uganda
This report was commissioned as part of the Building Assets, Unlocking Access, or BAUA, project and presents key findings on the interrelation of housing microfinance and land tenure security in Uganda. Conducted in partnership with the Mastercard Foundation, it focuses on increasing access for households in the base of the pyramid to the financial services necessary to improve their living conditions.
Housing microfinance in practice: A case study on Al Majmoua in Lebanon (.pdf)
The Lebanese Association for Development, or Al Majmoua, is committed to serving low-income microentrepreneurs, particularly women, by providing them with group and individual loans to improve their economic and social conditions. In 2008, Al Majmoua entered into a partnership with Habitat for Humanity Lebanon to design and deliver a housing microfinance product with construction technical assistance.
Housing microfinance in practice: A case study on Microcredit Foundation Sunrise in Bosnia and Herzegovina (.pdf)
This case study reviews the process Sunrise went through to develop and refine its housing product. In particular, it provides insights into how a client-centric strategy can strengthen alignment of the product with clients’ needs.
Kenya Women Microfinance Bank Housing microfinance impact evaluation final report (.pdf)
Genesis Analytics, along with the Leibniz Institute for Economic Research, were contracted by Habitat’s Terwilliger Center in 2013 to conduct an impact evaluation of the Building Assets, Unlocking Access project in Kenya.
Building Assets, Unlocking Access: Centenary Bank impact evaluation report (.pdf)
Genesis Analytics, along with the Leibniz Institute for Economic Research, were contracted by Habitat’s Terwilliger Center to conduct an impact evaluation of the Building Assets, Unlocking Access project in Uganda.
Kenya property microinsurance feasibility study (.pdf)
This study was commissioned by Habitat for Humanity International to determine the market opportunity for property microinsurance in Kenya and explore product concepts and distribution opportunities through financial service providers.
Kenya market mapping report (.pdf)
This study deepens and strengthens the understanding of Kenya’s low-income housing sector for financial service providers and other stakeholders in order to increase their ability to provide affordable products that promote access to housing for the low-income communities.
Uganda market mapping report (.pdf)
This study improves the understanding of Uganda’s low-income housing sector for financial service providers and other stakeholders in order to increase their ability to provide affordable products that promote access to housing for the low-income earning communities.
Microfinance for housing in Africa’s cities
Whether it is used for incremental house construction, renovation, land purchase or site improvement, housing microfinance services are on the rise in Africa.
Latin America and the Caribbean
Removing road blocks to housing finance: New findings from Latin America
This study identifies the key factors facilitating or restricting the growth of housing microfinance in Latin America.
Getting to scale in housing microfinance
A joint study conducted by Accion and Habitat that covered 10 of Accion’s partners in Latin America, representing more than 90% of the Accion Network’s housing portfolio, focuses on the challenges and barriers for reaching scale in housing.