Multi-Factor Cost Minimisation Analysis Of Self Built Houses In Tanzania
Authors:
Dr. Samwel Alananga,
Dr. Moses Mopogole Kusiluka,
Prof. Charles Lucian,
Format: Paperback | Genre : Engineering | Other Book Detail
Format: Paperback | Genre : Engineering | Other Book Detail
Building constructing is a capital intensive undertaking something which
explains the problem of shortage of housing in developing countries.
Owing to the financial and operational difficulties associated with
building construction and ownership, even in developed countries the
number of house owners is by far smaller than that of renters. In most
developed economies, house ownership is relatively easier due to
availability of difference sources of external and the general high level of
individual income for financing housing. Developed countries have well
established primary and secondary mortgage markets which pool funds
for property developers. Availability of finance in lump sum gives a
borrower a choice between buying an existing building and constructing
a new one. The buying option saves the prospective house owner from
hassles of having to endure the process of building construction which is
normally time-consuming and fraught with inflation risk and other kinds
of risks. Besides, developed countries are characterised by low inflation,
low interest rates and relatively stable monetary policies all of which
contribute to the stabilisation of prices in, among others, the construction
sector.
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