While delivering decent, affordable housing at scale is essential to global sustainable development, one formidable blockage is a lack of accessible housing finance for end users. People on low incomes have been perceived by lenders as high risk. They are excluded from financial systems and are forced to self-build using informal credit at exorbitant rates. This article engages with this problem, discussing practical examples and potential ways forward. It does so through case studies of models from Reall (a UK-based international development organization and social enterprise that promotes affordable homes) and its partner organizations in India, the Philippines, Nepal, Mozambique and Pakistan. The article evaluates the strengths and limitations of these models, and their potential for scaling up. Reall’s partners demonstrate that decent houses can be delivered at a cost that is accessible for potential low-income homeowners, while proving the viability of lending to borrowers in the bottom of the income pyramid. This is essential for demonstrating the commercial viability and impactful investment opportunity represented by affordable housing in urban Africa and Asia.

中文翻译：

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低收入人群能否在非洲和亚洲城市获得负担得起的住房贷款？Reall的全球网络中的创新住房融资模型示例

虽然大规模提供体面的，负担得起的住房对于全球可持续发展至关重要，但一个严重的障碍是，最终用户缺乏可及的住房融资。贷方已将低收入人群视为高风险人群。它们被排除在金融体系之外，被迫以高昂的价格使用非正式信贷进行自我建设。本文讨论了这个问题，并讨论了实际示例和可能的前进方式。它通过对Reall（一家总部位于英国的国际发展组织和社会企业，促进可负担房屋的建设）及其在印度，菲律宾，尼泊尔，莫桑比克和巴基斯坦的伙伴组织的模型进行案例研究。本文评估了这些模型的优势和局限性，以及它们扩大规模的潜力。Reall的合作伙伴证明，体面的房屋可以以潜在低收入房主可以负担的价格交付，同时证明了在收入金字塔底层向借款人提供贷款的可行性。这对于证明非洲和亚洲城市以经济适用房为代表的商业可行性和有影响力的投资机会至关重要。