Housing Market and Economic Development: (Revisited)

Nassar, Noha; Abuzekry, Tarek; Elmenshawy, Ahmed

doi:10.21608/eijest.2022.139217.1159

Housing Market and Economic Development: (Revisited)

Document Type : Original Article

Authors

¹ Deprtment of Architectural Engineering,Faculty of Engineering,Zaqaziq university,Zaqaziq City,Egypt

² Architectural, Factual of engineering, Zagazig University, Zagazig City, Egypt

³ Department of Architectural Engineering, Faculty of Engineering,Zaqaziq university,Zaqaziq City,Egypt

10.21608/eijest.2022.139217.1159

Abstract

Housing is considered the basis of economic development. Many activities related to housing are closely and directly related to the achievement of economic development goals. Real estate investment has always been seen as a measure of economic growth. That data is clearer and more accurate in developed countries, and the same general effect appears in developing countries with different degree of influence. The mortgage also helps the financial markets to develop. All over the world and especially in low-income countries, housing construction creates a lot of vacancies especially in cities.
Housing is an essential part of a country's economy. Its front and back links with different parts of the economy are closely linked for example people's needs and demands and social processes with the provision of land, infrastructure, building materials, technology, jobs and housing finance. These linkages enable housing to act as an important driver of sustainable development in society and the economy.

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