<p><strong>Abstract</strong></p><p><strong>Bachelors thesis, Bygg och fastighetsekonomprogrammet vid Högskolan i Halmstad Vårterminen 2009</strong></p><p><strong>Authors: </strong>Emma Stenberg och Emma Svensson</p><p><strong>Tutor:</strong> Sven-Ola Carlsson</p><p><strong>Title: </strong>Ägarlägenheter - en framtida investering<strong></strong></p><p><strong> </strong></p><p><strong>Background and problem</strong></p><p>The concept of owner’s apartment has been discussed in Sweden since the 19th century. It was not until the first of may 2009 that it got legislated to be allowed in Sweden. The concept that people should be allowed to own their apartments instead of owning a part of the tenant-owner’s association is a new phenomenon in Sweden. In Europe however this way of owning the apartments has been used during a long time.</p><p> </p><p>ByggSjögren is a Halmstad based company that has come a long way when developing owner’s apartments. They are going to start building new apartments in May-June 2009 and will then be the first company in Halmstad, maybe in Sweden, that will build apartments that the person moving in will own and use as they want.</p><p> </p><p>The Swedish parliament believes that the introduction of owner’s apartments will create new possibilities for the construction firms to invest in new projects. Owner’s apartments are viewed as an urban phenomenon and will hopefully improve housing situation in larger cities.</p><p><strong> </strong></p><p><strong>Purpose</strong></p><p>The purpose of this thesis is to research which attitudes there are in the construction and real estate business towards owner’s apartments. We are also interested to find out how construction and real estate companies view owner’s apartments as an investment.</p><p> </p><p><strong>Method</strong></p><p>A qualitative method will be used when writing this thesis. Secondary data will be the foundation of this study together with primary data in the form of interviews. The focus for the interviews will be on those people with the best knowledge within this thesis subject. These interviews will all be considered as primary sources.</p><p><strong> </strong></p><p><strong>Conclusion</strong></p><p>Owner’s apartment increases the flexibility in the housing market. The larger construction and real estate companies are somewhat restrictive when it comes to investments in owner’s apartments projects. However, the smaller company in the market has been quicker to start investing in these kinds of projects.<strong></strong></p><p><strong> </strong></p><p>Investments wise, owner’s apartments are lucrative for construction and real estate companies. A popular investment possibility is to build houses with owner’s apartments and sell the apartments in order to finance the building of rental apartments. Many people also believe that the owner’s apartments will be a popular investment possibility for the public. When having an owner’s apartment the owner can rent it out without needing the permission from a tenant-owner’s association. One person can then buy one or more owner’s apartments to rent out and receive income in the form of rent each month.</p><p> </p><p>Another positive aspect of owner’s apartment is that it can be considered as a private property and will be entered to the countrys land register. The owner has then the possibility to have a mortgage on the apartment. In the future the government hope that it will be possible to convert other forms of apartments to owner’s apartments.</p><p> </p><p><strong>Subject terms</strong></p><p>Owner’s apartment, real estate investments, portfolio investments.</p>

Abstract Bachelors thesis, Bygg och fastighetsekonomprogrammet vid Högskolan i Halmstad Vårterminen 2009 Authors: Emma Stenberg och Emma Svensson Tutor: Sven-Ola Carlsson Title: Ägarlägenheter - en framtida investering   Background and problem The concept of owner’s apartment has been discussed in Sweden since the 19th century. It was not until the first of may 2009 that it got legislated to be allowed in Sweden. The concept that people should be allowed to own their apartments instead of owning a part of the tenant-owner’s association is a new phenomenon in Sweden. In Europe however this way of owning the apartments has been used during a long time.   ByggSjögren is a Halmstad based company that has come a long way when developing owner’s apartments. They are going to start building new apartments in May-June 2009 and will then be the first company in Halmstad, maybe in Sweden, that will build apartments that the person moving in will own and use as they want.   The Swedish parliament believes that the introduction of owner’s apartments will create new possibilities for the construction firms to invest in new projects. Owner’s apartments are viewed as an urban phenomenon and will hopefully improve housing situation in larger cities.   Purpose The purpose of this thesis is to research which attitudes there are in the construction and real estate business towards owner’s apartments. We are also interested to find out how construction and real estate companies view owner’s apartments as an investment.   Method A qualitative method will be used when writing this thesis. Secondary data will be the foundation of this study together with primary data in the form of interviews. The focus for the interviews will be on those people with the best knowledge within this thesis subject. These interviews will all be considered as primary sources.   Conclusion Owner’s apartment increases the flexibility in the housing market. The larger construction and real estate companies are somewhat restrictive when it comes to investments in owner’s apartments projects. However, the smaller company in the market has been quicker to start investing in these kinds of projects.   Investments wise, owner’s apartments are lucrative for construction and real estate companies. A popular investment possibility is to build houses with owner’s apartments and sell the apartments in order to finance the building of rental apartments. Many people also believe that the owner’s apartments will be a popular investment possibility for the public. When having an owner’s apartment the owner can rent it out without needing the permission from a tenant-owner’s association. One person can then buy one or more owner’s apartments to rent out and receive income in the form of rent each month.   Another positive aspect of owner’s apartment is that it can be considered as a private property and will be entered to the countrys land register. The owner has then the possibility to have a mortgage on the apartment. In the future the government hope that it will be possible to convert other forms of apartments to owner’s apartments.   Subject terms Owner’s apartment, real estate investments, portfolio investments.

This study investigates how the mandatory adoption of the international reporting standards IFRS (International Financial Reporting Standards) for publicly listed companies affect countries’ levels of in- and outflow of cross-border capital. The continued harmonization of financial reporting standards on an international level is bringing up questions regarding supposed benefits of their implementation. These benefits cover areas such as increased accessibility of external financing, lower costs of capital, greater opportunities to receive a loan with longer terms, and the perceived improvements to the quality and transparency of annual reports. These factors, along with others, are driving forces as to why countries should experience changes in cross-border flows of capital when they officially adopt IFRS. It is this study’s goal to establish differences and relationships between different components of the international flow of capital and the aforementioned adoption. In this study the components are represented by the dependent variables; foreign direct investment inflow, foreign direct investment outflow, foreign portfolio investment, foreign loans as well as loans that are given to other countries. To analyse differences caused in these values by the adoption, paired t-tests are performed on data consisting of 2 360 observations from 59 countries during the period of 2001-2019. In addition, 42 countries from the continent of Asia are investigated during the period of 2013-2019 with several multiple regression analyses to determine relationships, in this case the data consisted of 4 410 observations. The paired t-tests exhibited statistically significant increases in all variables as of the adoption while the multiple regressions analyses resulted in only one out of five variables having a significant relationship with the event, that variable being foreign direct investment outflow. The results put to question previous studies successful attempts to show significant positive relationships between adoption and countries’ levels of foreign direct investment inflow, foreign portfolio investment, foreign loans and loans given to other countries. The result also has implications for further research in regard to choice of controlling variables as well as method of data collection. / Denna studie undersöker hur den obligatoriska implementeringen av de internationella redovisningsstandarderna IFRS (International Financial Reporting Standards) för börsnoterade företag påverkar länders in- och utgående flöden av gränsöverskridande kapital. Den fortsatta harmoniseringen av redovisningsstandarder på internationell nivå tar upp frågor gällande implementeringens påstådda fördelar. Fördelar som implementering av IFRS leder till täcker områden såsom ökad tillgänglighet av extern finansiering, lägre kapitalkostnader, större möjligheter att ta ut lån med längre löptider, och att årsredovisningar upplevs få bättre kvalitet och bli mer transparenta. Ovanstående faktorer m.fl. utgör grunden till varför länder borde uppleva förändringar i gränsöverskridande kapitalflöden i och med implementering av redovisningsstandarderna. Det är denna studies mål att etablera skillnader och samband mellan olika beståndsdelar av det internationella kapitalflödet och denna implementering. De beståndsdelarna representeras i denna studie av de fem olika beroende variablerna; ingående utländsk investering, utgående utländsk investering, utländsk portföljinvestering, utländska lån samt lån som delas ut till andra länder. För att undersöka ifall skillnader uppstår i dessa värden i och med implementering utförs parade t-test på ett dataunderlag av 2 360 antal observationer tagna från 59 länder under perioden 2001–2019. Dessutom undersöks 42 länder i kontinenten Asien under perioden 2013–2019 med multipla regressionsanalyser för att påvisa samband, datan i detta fall uppgick till 4 410 stycken observationer. T-testen visade på statistiskt signifikanta ökningar i alla variabler i och med implementeringen av IFRS medan de multipla regressionsanalyserna resulterade i att endast en av de fem olika variablerna, nämligen utgående utländsk investering, hade ett signifikant positivt samband med händelsen. Resultaten problematiserar tidigare studier som föreslår att det existerar signifikanta positiva samband mellan implementering och länders nivåer av ingående utländsk investering, utländsk portföljinvestering, utländska lån och lån som delas ut till andra länder. Undersökningen har även implikationer för framtida undersökningars val av kontrollvariabler och datainsamlingsmetod.