This paper analyzes how the COVID-19 pandemic has affected the Swedish housing market, and in particular prices and shifts in trends. Different classes of housing objects in various counties are investigated. Combining web scraped housing data for the entirety of Sweden between 2016-01-01 and 2021-03-31, including economic, demographic, socioeconomic and locational data, a hedonic regression model is used to estimate how different variables influence the housing price. The base model is subsequently used to investigate if statistically significant structural breaks exist in relation to the COVID-19 pandemic for the different object types in the entire Swedish market and in certain specific counties. Structural breaks are found for the housing object types ‘Fritidshus’, ‘Lägenhet’ and ‘Radhus’ in the entire Swedish market and for “Villa” in Stockholm county shortly after the pandemic outbreak, suggesting there is evidence for a pandemic infused shift in housing price regime on the Swedish housing market for these object types in stated areas. Splitting the hedonic regression model into three, one pooled regression, one before and one after the identified breaks, and comparing the shifts in impact of the housing price determinants suggests different pandemic effects on different object types. The result indicates that for the object types ‘Lägenhet’ in the entire country and for ‘Villa’ in Stockholm county, living area has an increased impact on the price while the locational variable population density has a decreased impact after the breakpoint date compared to before. This could suggest that for permanent housing objects in these regions, living area might have become increasingly valued over location during the pandemic. The results further indicate the direct opposite effect on the shifted impact in living area and the population density for the price of the temporary housing type Fritidshus in entire Sweden. However, an indication for increased impact of the areas socioeconomic level is noted for all these three object types. These results hold as a ground for further research in the subject.

This paper investigated the discrimination against transgender people in the Swedish rental housing market, and is one of the first correspondence studies to examine this question at hand. A total of 800 applications were sent to various landlords advertising rental vacancies on Blocket.se. In total, the cisgender applicants attained a call back rate of 60.7 %, while the transgender applicants attained a rate of 59.0 %. Furthermore, no unequal treatment was found in positive employer responses for being transgender, when compared to the cisgender group. In the case, where the cisgender and transgender groups were evaluated separately, a favoring of having a woman as a tenant over a man was prominent when comparing the testers within the cisgender  group.  A penalty of 12.6 % in positive landlord responses was found for the trans man, in terms of likelihood of getting an invitation to additional contact or to showing, when compared to the cis woman. Similarly, the trans woman had a 7.4 % lesser likelihood in getting an invitation to showing than the cis woman. With regards to these results, one can conclude that there exists both discrimination based on gender and gender identity in the rental housing market in Sweden.

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.

Idag har vi höga räntor och stigande inflation. Nyproduktionsmarknaden är trögareän andrahandsmarknaden vilket har skapat ett prisglapp mellan andrahandsbostäderoch nyproduktioner. Högre månadsavgifter och en risk att de behöver höjasytterligare, samt en lång köpprocess bidrar också till en lägre efterfrågan pånyproduktioner. Det här arbetet började med frågor som: Hur tänkerbostadsutvecklare i den här situationen? Hur agerar de? Dessa frågor är vad det härarbetet redogör för, vilka strategier och erbjudanden använder sig företag av för attfå sålt svårsålda bostäder, samt vad som ligger bakom dessa beslut. Syftet med det här arbetet är att presentera, analysera och jämföra de erbjudandenoch strategier som företag använder sig av för att lyckas sälja svårsålda bostäder. Resultatet bygger på en blandning av kvalitativa och kvantitativa studier. Detinleddes med en observationsstudie för att få en överblick av de erbjudanden somfinns på marknaden, samt för att ta fram statistik. Detta kompletterades medkvalitativa intervjuer och fallstudier för att få en djupare förståelse för vad som liggerbakom strategierna och erbjudandena. För att få en bredd i svaren bestårrespondenterna av representanter från bostadsutvecklare av olika storlek och medolika geografiskt verksamhetsområde. Analysen visar på stora likheter i resonemanget bakom valet av strategi ocherbjudande. Samtidigt finns det både likheter och skillnader mellan vilka erbjudandenoch strategier man använder sig av. Slutsatsen presenterar samtliga erbjudanden och strategier som observerats understudien. Där beskrivs även hur resonemanget bakom är en bedömning som görsfrån fall till fall utifrån en stor mängd olika faktorer, till exempel målgrupp, vart iprocessen projektet befinner sig och hur mycket man har osålt. / Today we have high interest rates and rising inflation. The new production market isslower than the secondary market, which has created a price gap betweensecondary housing and new productions. Higher monthly fees and a risk of furtherincreases, as well as a long buying process, also contribute to lower demand for newbuilds. This work started with questions such as: How do housing developers think inthis situation? How do they act? These questions are the subject of this study, whatstrategies and offers do companies use to sell homes in this market, and what isbehind these decisions. The purpose of this study is to present, analyze and compare the offers andstrategies used by companies to successfully sell homes in this market. The results are based on a mix of qualitative and quantitative studies. The researchbegan with an observation study to get an overview of the offers available on themarket and to collect statistics. This was complemented by qualitative interviews andcase studies to gain a deeper understanding of the reasoning behind the strategiesand offers. In order to get a wide range of answers, the respondents consist ofrepresentatives from housing developers of different sizes and different geographicalareas of operation. The analysis shows great similarities in the reasoning behind the choice of strategyand offer. At the same time, there are both similarities and differences between theoffers and strategies used. The conclusion presents all the offers and strategies observed during the study. Italso describes how the reasoning behind them is an individual assessment based ona large number of different factors, such as the target audience, where in theprocess the project is and how much is unsold.

The housing market has seen increased housing prices and low inflation for the last decade. This study aims to answer if inflation affects the housing prices in Jönköping by looking at both the county and municipality levels. We are investigating apartments and small houses at both levels. To test this empirically, quarterly data was used for all variables using a multiple regression analysis for the years 2005 and 2021. The results display some differences between the two regions with the county being the preferred model of choice. We can not conclude with statistical significance that inflation affects housing prices. We conclude that a relationship between housing prices and inflation in Jönköping county and municipality seems to be present.

Predicting U.S. recessions using the slope of the Treasury yield curve has been the focus of extensive research over the past two decades. This yield curve has consistently predicted economic downturns in the United States whenever the curve becomes flat or inverted and recent research has concluded that adding the federal funds rate produces a more accurate model. With the recent recession of 2008 and the housing market's suspected role, I use new data and add a housing index variable to previous models in order to test the correlation and improve the predictive power of the overall model. I run multiple probit regressions to estimate probabilities of a recession within a number of future quarters. I find that models that include the housing index variable in addition to the yield curve and federal funds rate variables give a better in-sample fit and performance than models that do not use it. I discuss the implication of these results in light of the recent recession, and in terms of what this could imply for the future.

I takt med de låga bolåneräntorna och de skenande bostadspriserna i Sverige har skuldsättningen och skuldkvoten i de svenska hushållen ökat markant de senaste åren. Då en högt skuldsatt befolkning utgör en risk vid en makroekonomisk störning har Finansinspektionen, i syfte för att bromsa denna utveckling, tagit fram finanspolitiska regleringar som belåningsgrad och amorteringskrav. Ännu en finanspolitisk reglering, i form av ett skuldkvotstak, diskuteras om det ska lagstadgas för att fortsätta bromsa den svenska skuldsättningen.  Med hjälp av kvalitativa undersökningar i form av fem semistrukturerade intervjuer och analys av finansiella rapporter från myndigheter ämnar denna uppsats att undersöka hur ett lagstadgat skuldkvotstak skulle påverka den svenska bostadsmarknaden samt hur den praktiska påverkan skiljer sig från den teoretiska.  Uppsatsens slutsats är att ett lagstadgat skuldkvotstak inte kommer påverka bostadsmarknaden så markant. En viss minskning i efterfrågan kommer antagligen att ske, men då bankerna redan idag har starka regleringar kommer ytterligare en reglering inte ha en så signifikant påverkan på bostadsmarknaden. Då Stockholm har en högre andel bostadsrätter än Göteborg och Malmö kommer minskningen i pris-, transaktions-, och byggmarknaden med stor sannolikhet vara större i Stockholm.  Denna studie bidrar till ny och ökad kunskap genom att tillhandahålla djupare förståelse kring effekterna av ett lagstadgat skuldkvotstak på den svenska bostadsmarknaden. / In line with the low mortgage rates and the high housing prices in Sweden, debt and debt ratios in Swedish households have increased rapidly in recent years. Since a highly indebted population poses a risk in the situation of a macroeconomic disturbance, the Financial Supervisory Authority has developed fiscal regulations such as loan ratios and amortization requirements, in aim of slowing down the development of the risk. In addition, another fiscal regulation, the debt-to-income limit, is being discussed as to whether or not it should be established to continue the process of slowing down the Swedish debts.  Through qualitative approach in the form of five semi-structured interviews and analysis of financial reports from authorities, this paper aims at investigating how a statutory debt-to-income limit would affect the Swedish housing market and how the practical impact differs from the theoretical. The conclusion is that a statutory debt-to-income limit does not affect the housing market so significantly. A certain decrease in demand is likely to happen, but since the banks already have strong regulations, further regulation will not have such a significant impact on the housing market. Since Stockholm has a higher proportion of condominiums than Gothenburg and Malmö, the effects on the price, transaction, and construction market will with great probability be larger in Stockholm. This study contributes to a new knowledge by providing a deeper understanding on how a statutory debt-to-income limit would affect the Swedish housing market.

The housing market is one of the most important markets for many economic agents. Large differences in the local market across Sweden suggest regional heterogeneity, however. This study aims to answer if the price and income elasticities of demand for small houses vary between different types of Swedish municipalities. This answer is explored in the light of the central place theory and location theory to see if they follow a hierarchal structure across space. To test this empirically, the 290 municipalities were grouped based on the Swedish Association of Local Authority and Regions’ definitions and tested group-wise using a log-log fixed-effect average hedonic price model using data for 2013-2020. The main findings indicate some differences in the estimates of price and income elasticities between different types of municipalities, but mixing results whether they follow a hierarchal relationship. The conclusions changes depending on which scale one measure, which indicate how local the housing market is.

No description available.

This paper aims to investigate whether changes in economic sentiment and major policy shifts have had any significant impact on Scandinavian real housing prices relative their fundamental value post year 2000. Fundamental housing price indices for each constituent of the region are estimated from macroeconomic fundamentals in a VAR framework. We then estimate impulse response functions from another VAR to test the effects of survey-based economic sentiment on the fundamental price spread in each housing market. In addition, we investigate how major housing related policies implemented during our sample period have affected the fundamental price spreads in an ARDL framework. The study concludes a substantially undervalued Danish housing market post 2008 and a marginally yet persistently overvalued Norwegian market, whereas Swedish and Finnish housing prices have developed fairly in line with levels motivated by macroeconomic fundamentals. Changes in economic sentiment show limited effect on closing the fundamental price spread in Denmark, but no significant impact on any other housing market considered. The elected policies representing major housing market shifts have had significant negative impact on the real housing price development in Denmark and Norway but not in Finland and Sweden. The policy shift in Finland has significantly yet marginally closed the fundamental price spread during the period investigated. Interestingly, implemented LTV- and DTI caps in Sweden have neither affected real aggregate housing prices nor the fundamental price spread.