World Bank: Housing crisis to affect 3B people by 2030

The global housing crisis will affect 3 billion people by 2030, Valérie Levkov, Vice President for Infrastructure at the World Bank Group, said at a panel discussion at the 13th session of the World Urban Forum (WUF13) in Baku, according to Report.

"By 2030, approximately 3 billion people will face housing affordability challenges, and to meet existing demand, approximately 500 million new housing units will need to be built. This is a global challenge that requires joint efforts," Levkov emphasized.

Furthermore, she noted that 93% of adults worldwide lack access to formal housing finance, and 70% of land in developing countries remains unregistered.