The importance of a well-functioning housing market has been proposed for long within economics, economic geography and urban planning.  A high mobility on the housing market most likely positively affects the dynamics of the labor market, a dynamic important for economic growth. Mobility defined as the link between the worker and the workplace in terms of transportation and housing are most likely essential components of a dynamic and well-functioning labor market. The Oswald hypothesis states that positive relationship between homeownership and unemployment exists, the lower mobility in the homeownership housing stock compared to the rental housing stock affects labor market mobility in a negative way which can be noted if European countries are compared. My thesis explores this relationship in a Swedish context by mobilizing a quantitative approach with aggregate data on municipal level ranging from 1998 to 2013. The Swedish housing market is in a deregulation process since 1992, a conversion process from public rental housing to homeownership co-op apartments has taken place and public policies now favor homeownership over renting. Municipal data on unemployment, homeownership of apartment, rental tenant and control variables for economy and personal characteristics are applied in Pooled OLS, random effects and fixed effects regression models. The results from the Pooled OLS and the Random effects model confirms the positive relationship proposed by Oswald for homeownership of apartment but not for homeownership of detached housing. Also rental tenant show a positive relationship. The results from the fixed effect estimation rejects the hypothesis altogether and show a negative relationship.

This thesis discusses the real price development on the Swedish housing market and the effects by qualitative variables. The housing market shows signs of being overpriced and this paper investigates if these qualitative values significantly effect the real price development. Valueguard Corporation has supplied Price development data. Focus magazine has supplied data regarding a large dataset for Swedish municipalizes which measures which state of quality of living prevailing in the investigated area. Empirical results show that qualitative variables and increased population have a positive effect on the real price development. Increased cost of interest rates has a significant negative effect on the price development. Increased amortizing rates and interest rates are assumed to slow down an unsustainable price development.

The indebtedness of Swedish households has more than doubled in the last ten decades despite the implementation of a mortgage ceiling and stricter amortization requirements. This study takes form to investigate how it is possible that debt related to housing is rising while new regulations against it has been set and how housing prices continues to increase when lending is supposed to be harder.This analysis estimates whether there are indications of an existing price bubble in the housing market of Stockholm. It is done by testing fundamental economic factors to the price index of housing in Stockholm, to see if they support the price development. If the analysis shows that housing prices cannot be predicted by the fundamental economic factors, it is possible that the price is a self-running series1 which could be an indicator of a price bubble. If fundamental factors that are being used as control variables seem to follow the same trend as the price development of the housing market, the speculation of price bubble will be rejected.

Bakgrund: Den senaste tiden har en debatt blossat upp i media om huruvida det är rimligt att bostadsrättsföreningar får tillämpa progressiva avskrivningar och om raka avskrivningar är ett bättre alternativ. Bokföringsnämnden beslöt under våren år 2014 att progressiva avskrivningar inte är en tillämplig avskrivningsmetod för byggnader. I media har många uttalat sig om vad detta kommer få för effekt på marknaden för bostadsrätter, men det har ännu inte utretts ur ett vetenskapligt perspektiv. Syfte: Uppsatsen syftar till att bidra med detta vetenskapliga perspektiv genom att analysera huruvida progressiva avskrivningar är en förutsättning för nyproduktion. I uppsatsen ämnas även undersöka om detta skiljer mellan olika regioner i Sverige. Metod: För att besvara de i syftet ställda problemformuleringarna har en teoretisk modell utvecklats med grundantagandet att köpare av bostadsrätter ska vara indifferenta till vilken avskrivningsmetod som används. Regler och praxis kring avskrivningar i bostadsrättsföreningar har kartlagts för att kunna ge modellen adekvat utformning. Modellens slutresultat visar hur en övergång från progressiva till raka avskrivningar påverkar lönsamheten i nyproduktion av bostadsrätter. En diskussion har förts kring rimligheten i de antaganden som gjorts i modellen och det framtagna resultatet, med utgångspunkt i mikroekonomisk teori och en generell analys av bostadsmarknaden. Slutsats: Enligt de antaganden som gjorts i denna studie och den modell som tagits fram har slutsatsen dragits att de progressiva avskrivningarna på kort sikt är en förutsättning för nyproduktion. Det finns dock ett antal omständigheter som tyder på att reaktionen i verkligheten blir något mildare än vad resultatet från modellen visar. Vidare tycks effektens storlek minska ju högre marknadspriset för bostadsrätter var innan övergången till raka avskrivningar. På lång sikt är inte progressiva avskrivningar en förutsättning för nyproduktion av bostadsrätter. / Background: In Sweden, there has been a recent debate about the reasonability of the use of progressive depreciations by housing cooperatives and if straight line depreciations is a better alternative. The Swedish Accounting Standards Board decided during the spring of 2014 that progressive depreciation is not an applicable depreciation method for buildings. In media, many have discussed the effect on the market for housing cooperative shares but it has not yet been investigated with a scientific perspective. Purpose: The aim of the thesis is to contribute with this scientific perspective by analyzing if progressive depreciations is a prerequisite for production of new dwellings. The thesis is also meant to look into regional differences of this matter. Method: To answer the two problem formulations above, a theoretical model has been developed with the basic assumption that buyers of housing cooperative shares should be indifferent to which depreciation method is applied. Rules and practices of housing cooperative depreciations have been charted in order to make the model adequate. The end result of the model shows how a transition from progressive to straight line depreciation affects the profitability of production of new dwellings. With respect to microeconomic theory and a general analysis of the housing market, a discussion has been carried out about the model assumptions and the model results. Conclusions: According to the used model and its assumptions, the conclusion has been made that progressive depreciations is a short term prerequisite for production of new dwellings. Although, there are circumstances that indicate that the market reaction would be milder than what the model results show. Furthermore, the effect of the depreciation method transition seems to decrease with higher market prices for the housing cooperative shares. In the long term, progressive depreciations is not a prerequisite for production of new dwellings.

The purpose of this thesis was to study the requirement profile for obtaining a newly produced rental apartment via the municipal housing queue in Stockholm and what perceptions and differences about the geographical areas of the housing are conveyed in the process. This has been researched in relation to the new housing policy regarding the political incitement of market rents in Sweden. This study was conducted with a focus on vulnerable groups in society. In this study, a qualitative content analysis was used as the research method and the empirical data consists of rental advertisements from the statistical service of The Stockholm Housing Agency. The selected theories that have been applied in the analysis are Goffman's theory of stigma and the theory of social constructivism. The results of the study show that there is a lack of suitable and available forms of housing for low-income households in the municipal housing market as the majority of landlords do not accept unemployment insurance, social welfare or sickness benefit as a source of income. As an outcome, it is not possible to obtain a rental apartment via the municipal queue if you belong to that category of income. The results also show segregating patterns in the landlords' qualification requirements, as they demand a significantly higher gross income for housing in residential areas with a high socio-economic status, while requirements are more relaxed in areas with lower incomes. The results also show that the marketing of the housing is clearly aimed at a specific target group through language use. In summary, the results show that segregating practices take place in the municipal housing market as low-income households are not given access to resource-rich areas due to high income requirements and a strategic marketing that communicates what type of people are ideal for living in the area.

As the City of Stockholm continues to grow, there is a looming fear that there will not be enough housing for a growing population. Municipalities within Stockholm County are building up their housing stock to contribute solutions to the infamous housing crisis that is on the rise. With this increase of built development, there is also a faint shadow of the Million Homes Project problems that daunts new projects. The last time the city of Stockholm had built up so much new development, some of the Million Homes Project neighborhoods descended into segregated and vulnerable areas. This project looks at how Riksbyggen, a housing developer, can build housing developments that align with social sustainability practices for integrated neighborhoods, in order to avoid the process of segregation. The research focuses on the study area of Ursvik, a residential neighborhood that has plans to grow by 15,000 new residents in the next 10-15 years. This new neighborhood development will border more vulnerable neighborhoods, Rissne, Hallonbergen, and Rinkeby, which have reputations for being high in crime, immigrant dense, and segregated from neighboring areas. Riksbyggen has two existing housing developments in the area and has plans to build one more. Their recently established indicators for social sustainability can help make a long lasting impact on the social sustainability in the neighborhood. Through this project I hope to contribute knowledge on how social sustainability indicators can be used for planning for more integrated and open neighborhoods. The methods used were observations of Riksbyggen’s sustainability department, meetings with city planners from Stockholms and Sundbybergs stad, a survey of current Riksbyggen residents in Ursvik, talking with members of the housing boards, an analysis of indicators, and testing planning solutions. I found that the sustainability indicators are well focused on the needs of residents but could be improved through better communication of social sustainability goals throughout Riksbyggen and through a better follow-up measuring of indicators over time. More concrete measures, like including a diversity of services as well as tracking neighborhood progress over time can help ease residents’ biggest fear of integration: higher crime and lowered security. / Allt eftersom Stockholm stad fortsätter att växa finns det en hotande rädsla för att det inte kommer att finnas tillräckligt med bostäder för en växande befolkning. Kommuner runt om i Stockholms län försöker bidra till bostadskrisen genom att öka sitt bostadsbestånd. Men problemen från miljonprogrammets byggande, där en del stadsdelar över tiden blivit alltmer utsatta och segregerade, kastar en skugga och skapar rädsla bland beslutsfattare och planerare för att göra om samma misstag. Den här studien tittar på hur Riksbyggen, som är en stor byggaktör, kan bygga bostäder som ligger i linje med socialhållbarhetspraxis för integrerade grannskap och kan motverka segregation. Studien fokuserar på området Ursvik, ett bostadsområde som har planer på att växa med 15 000 nya invånare under de kommande 10-15 åren. Detta nya område kommer att angränsa mot mer utsatta områden som Rissne, Hallonbergen och Rinkeby, som har ryktet om sig att ha hög brottslighet, vara invandrartäta samt segregerade från omkringliggande områden. Riksbyggen har två befintliga bostadrättsföreningar i Ursvik och har planer att bygga en till. Deras nyligen etablerade indikatorer för social hållbarhet kan bidra till att långsiktigt påverkar den sociala hållbarheten i grannskapet. Genom det här projektet hoppas jag kunna bidra med ytterligare kunskap om hur sociala hållbarhetsindikatorer kan användas för planering för bättre integrerade och öppna grannskap. Metoderna som används är egna observationer av hur Riksbyggens enhet för hållbarhetsfrågor arbetar, möten med stadsplanerare från Stockholms stad och Sundbybergs stad, en enkät bland nuvarande boende i Riksbyggens bostadsrättföreningar i Ursvik, samtal med styrelsemedlemmar, en analys av indikatorer, samt tester av planeringslösningar. Resultatet visar att hållbarhetsindikatorerna är väl fokuserade på behoven hos men de sociala hållbarhetsmålen kan förbättras om de tydligare kommuniceras och implementeras i hela organisationen samt om Riksbyggen gör bättre uppföljningsstudier av indikatorerna över tid. Mer konkreta åtgärder såsom att Riksbyggen tillsammans med andra aktörer ser till att det blir ett större utbud och mångfaldav tjänster samtidigt som uppföljning av grannskapens framsteg över tid kan hjälpa lindra boendes rädsla inför att Ursviks integration med omgivande stadsdelar skall leda till högre brottslighet och försämrad trygghet.

The Swedish housing market has been subject to extensive attention in the media recently, and the existence of a housing bubble has been questioned. The purpose of this thesis is to analyse the Swedish housing market to investigate if there are reasons to believe that the market is overvalued. The current situation in the housing market will be compared to the United States market prior to the crash of 2007. The models that are used in the paper is the house price-to-income, price-to-rent and imputed rent-to-rent. Other fundamental factors such as rent control, household debt, interest rates, and other policies effecting the housing market will be discussed. The main findings indicate that the Swedish housing market in 2010 is overvalued, however one has to consider that there are limitations to these models such as the extra benefits of owning a house compared to renting.

The Swedish housing market has been subject to extensive attention in the media recently, and the existence of a housing bubble has been questioned. The purpose of this thesis is to analyse the Swedish housing market to investigate if there are reasons to believe that the market is overvalued. The current situation in the housing market will be compared to the United States market prior to the crash of 2007. The models that are used in the paper is the house price-to-income, price-to-rent and imputed rent-to-rent. Other fundamental factors such as rent control, household debt, interest rates, and other policies effecting the housing market will be discussed. The main findings indicate that the Swedish housing market in 2010 is overvalued, however one has to consider that there are limitations to these models such as the extra benefits of owning a house compared to renting.

During the recent years, the Swedish housing market has developed into a topic of major interest, both domestically and internationally. The sky-rocketing prices, the uprising demand together with the housing shortage, and the market bubble ongoing debate, have resulted in the discussion of risk being more relevant than ever before. Literature is vast and knowledge is still gained, as recent research is seeking for answers about where the market is headed towards. This study intends to provide a new perspective regarding risk as a factor in the housing market. Based on the classical portfolio theory, an asset pricing approach in the Swedish housing market is presented. By applying modern quantitative methods, this thesis analyses the results of several models in the Swedish housing market and tries to establish a relationship between different market segments and the overall market. The goal is to determine: (1) the risk factor reflected by the market segments towards the overall market, (2) the evolution of the risk factor through time, (3) the way the market segments affect and cause each other, and finally (4) the response of the market segments against market shocks. The results provide a new insight on the risk factor and the mechanics defining the Swedish housing market. This could work as a useful tool in a new approach regarding the real estate market analysis, from a developer’s perspective. / Under de senaste åren har den svenska bostadsmarknaden utvecklats till ett ämne av stort intresse, både nationellt och internationellt. Skyhöga prisökningar, en ökande efterfrågan i relation till bostadsbrist, till den pågående debatten om marknadsbubblor har resulterat i diskussioner om att risken är högre än någonsin tidigare. Litteraturen är stor på området men mer kunskap inhämtas hela tiden eftersom aktuell forskning fortfarande söker svar på frågan om vart marknaden är på väg. Denna studie avser att ge ett nytt perspektiv av riskfaktorn på bostadsmarknaden. Baserat på den klassiska portföljteorin presenteras en prissättningsstrategi för den svenska bostadsmarknaden. Genom att tillämpa moderna kvantitativa metoder analyserar denna avhandling resultaten från flera modeller på den svenska bostadsmarknaden och försöker upprätta en relation mellan olika marknadssegment och den övergripande marknaden. Målet är att bestämma: (1) riskfaktorn reflekterad av marknadssegmenten gentemot den övergripande marknaden, (2) riskfaktorns utveckling över tid, (3) hur marknadssegmenten påverkar varandra och slutligen (4) marknadssegmentens reaktion mot marknadschocker. Resultaten ger en ny inblick i riskfaktorn och mekaniken som definierar den svenska bostadsmarknaden. Detta kan fungera som ett användbart verktyg i en ny metod för fastighetsmarknadsanalys från en fastighetsutvecklares perspektiv.

In the last few years, Sweden has felt rising energy prices leading to more harsh living for single houses. In the years 2021–2022, both Europe and Sweden witnessed record-high electricity prices and experts predicted an increase in the coming years. As a result of this, homeowners began to improve their energy efficiency in their homes. Therefore, this study will aim to answer the question “How does the final price of detached houses differentiate between Gothenburg and Luleå due to their energy efficiency?”. The hypothesis for the work is that a positive relationship between sales price and energy efficiency occurs. That Gothenburg will have a larger effect than Luleå. To answer the question a quantitative method is applied using the hedonic pricing model with two multiple regressions, one for each cross-section. The time series is from 2020–2023. The variables used are sale price as a dependent variable and a series of eight independent variables. The regression results show a positive relationship between energy efficiency measures and final price in both cross sections. Furthermore, the results are significant for Luleå and insignificant for Gothenburg. Regarding Luleå energy efficient ventilation and heating has a statistical significance on sale price. Meanwhile, house size and plots of land are significant for Gothenburg. These results are both in line with previous research but also contradict them. The thesis is unique because the analysis is made between two different energy pricing areas in Sweden. / Under de senaste åren har Sverige påverkats av stigande energipriser. Detta har resulterat i en mer pressad situation för småhusägare runt om i landet. Under åren 2021–2022 upplevde Sverige och Europa rekordhöga energipriser och experter förutspår en fortsatt ökning under de kommande åren. Med detta i åtanke har småhusägare börjat energieffektivisera sina hem. Således kommer denna uppsats besvara problemformuleringen “Hur skiljer sig slutpriset på småhus mellan Göteborg och Luleå av energieffektivisering?". Hypotesen för arbetet är att finna ett positivt samband mellan slutpris och energieffektivisering. Där till att inverkan i Göteborg är större än i Luleå. För att besvara frågeställningen appliceras en kvantitativ metod tillsammans med den hedoniska prismodellen. Modellen använder två multipla regressioner, en för vardera tvärsnitt. Tidsserien är mellan år 2020–2023. Den beroende variabeln är slutpris och förklaras med hjälp av åtta oberoende variabler. Regressionsresultaten visar ett positivt samband mellan energieffektiviserande åtgärder och slutpris i båda kommunerna. Dock är koefficienterna signifikanta i Luleå och icke signifikanta i Göteborg. För Luleå är energieffektiv ventilation och energieffektiva uppvärmningssystem statistiskt fastställda. Medan för Göteborg påvisar boarea och tomtstorlek signifikans. Resultaten ligger både i linje med tidigare forskning men motsäger även dem. Uppsatsen är unik då analysen genomförs mellan två olika energiområden i Sverige.