Abstract
The very rapid rates of urban population growth in developing countries is placing great strain on their housing stock. Housing policies which are aiming at reducing or eliminating crowding are generally based on notions of ‘needs’ and ‘standards of adequacy’ which are more often based on arbitrarily selected criteria than on domestic economic conditions. The aim of this paper is to evaluate the willingness to pay for the additional housing space by households and the validity of target housing standards. The three methods used show consistently that — at least in Korea — the willingness to pay for additional space is less than 25 percent of the value of an extra unit of space, everything else being equal.
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