| 1. |
- Brunes, Fredrik, et al.
(författare)
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NIMBYs for the rich and YIMBYs for the poor : analyzing the property price effects of infill development
- 2020
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Ingår i: Journal of European Real Estate Research. - : EMERALD GROUP PUBLISHING LTD. - 1753-9269 .- 1753-9277. ; 13:1, s. 55-81
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Tidskriftsartikel (refereegranskat)abstract
- Purpose This paper aims to analyze how nearby property prices are affected by new construction projects in Stockholm. If there is an impact on property prices, the authors endeavor to investigate whether the effects vary among different areas within the municipality, for different groups of inhabitants and for different types of housing (i.e. public versus private housing). Design/methodology/approach The authors use a difference-in-difference specification in a hedonic model, and the sample consists of more than 90,000 observations over the period 2005-2013. Findings The results are robust and indicate that house prices in nearby areas increase following the completion of infill development. The results also indicate that infill development has a positive spillover effect on nearby dwelling prices only in areas with lower incomes, more public housing units and more inhabitants born abroad. Originality/value It provides an analysis on how nearby property prices are affected by new construction projects by creating a restricted control area, so as to make the treatment group and the control group more homogeneous. Thus, it mitigates any potential problems with spatial dependency, which can cause biased standard errors.
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| 2. |
- Ceccato, Vania, Professor, 1968-, et al.
(författare)
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Do crime hot spots affect housing prices?
- 2020
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Ingår i: Nordic Journal of Criminology. - : Informa UK Limited. - 2578-983X. ; 21:1, s. 84-102
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Tidskriftsartikel (refereegranskat)abstract
- Our knowledge about what happens to housing values when properties are close to places with high concentrations of crime, often called ‘hot spots’, is limited. Previous research suggests that crime depresses property prices overall, but crime hot spots affect house prices more than crime occurrence does and may affect prices of single-family houses more than prices of flats. Here we employ hedonic price modelling to estimate the impact of crime hot spots on housing sales, controlling for property, neighbourhood and city characteristics in the Stockholm metropolitan region, Sweden. Using a Geographic Information System (GIS), we combine property sales by coordinates into a single database with locations of crime hot spots. The overall effect on house prices of crime (measured as crime rates) is relatively small, but if its impact is measured by distance to a crime hot spot, the effect is non-negligible. By moving a house 1 km further away from a crime hot spot, its value increases by more than SEK 30,000 (about EUR 2,797). Vandalism is the type of crime that most affects prices for both multi- and single-family housing, but that effect decreases with distance from a crime hot spot.
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| 3. |
- Eliasson, Jonas, et al.
(författare)
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Transport Mode and the Value of Accessibility-A Potential Input for Sustainable Investment Analysis
- 2020
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Ingår i: Sustainability. - : MDPI. - 2071-1050. ; 12:5
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Tidskriftsartikel (refereegranskat)abstract
- Accessibility plays an essential role in determining real estate prices and land use. An understanding of how accessibility and changes in accessibility influence real estate prices is key to making decisions regarding investments in infrastructure projects. From an accessibility point of view, it is not clear that there should be differences in valuation depending on the mode of public transport, road, or rail. There are, however, other differences that may affect real estate prices differently. For example, railway stations more often than bus stations, tend to be associated with a higher level of service. In addition, an investment in a railway station may signal a long-term decision from the policymaker. A third possible explanation concerns differences in perceived safety, comfort, and security. This paper aims to study if and how capitalization of accessibility differs between modes of transportation. The findings indicate that rail has a higher impact, both for single-family and multifamily houses. The implication of these findings may be of importance for future infrastructure investments and their corresponding cost-benefit analyses. Incorrect valuations of the benefits of infrastructure investments may result in sub-optimal investments.
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| 4. |
- Engerstam, Sviatlana, 1974-, et al.
(författare)
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Exploring the Effects of Municipal Land and Building Policies on Apartment Size in New Residential Construction in Sweden
- 2023
-
Ingår i: Journal of Risk and Financial Management. - : MDPI. - 1911-8074. ; 16:4, s. 220-220
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Tidskriftsartikel (refereegranskat)abstract
- New residential construction in many countries with rapid urban growth is often interrelated with smaller housing units being built. Sweden is not an exception. It is of interest to investigate the driving forces behind this tendency. Our presumption is that municipal land price policies and building permit regulations might play a certain role in this process. Contrary to previous studies that focus on the number of new dwelling units in housing construction, our purpose is to analyze the average size of new housing units and the factors that affect it on an aggregate level. We apply seemingly unrelated regressions for analysis of the average apartment size in new residential construction in the three largest metropolitan regions in Sweden as a function of the changes in population, apartment rent and prices, mortgage interest rates, land prices, and building permits per capita as a proxy for regulation. The unbalanced panel dataset includes the period between 1998 and 2017 and covers both the rental and the housing cooperative sectors. The analysis demonstrates that land prices and building policies along with market fundamentals are the underlying factors that affect the average size of an apartment in new residential construction in Sweden.
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| 5. |
- Engerstam, Sviatlana, 1974-
(författare)
-
Housing Market Dynamics
- 2023
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The dynamics of housing markets constitute a complex phenomenon. The body of research is vast and includes thousands of studies done on the national and international level. Empirical evidence indicates that housing markets differ in local institutional arrangements and that these might affect the ways they develop over time. To analyze housing market dynamics in various institutional environments and to increase our understanding of them is the main objective of this thesis.The scope of research includes analysis of relevant theories and empirical models that might explain development of house prices over the long run. Given that prices affect housing construction, this thesis also aims to deepen understanding of the impact of the relationship between new construction and underlying fundamentals, together with various institutional arrangements that might differ between countries. In particular, they include bank lending policies, valuation methods for mortgage purposes, different regulatory measures like rent control, as well as land and building policies.The Swedish apartment market was chosen for empirical analysis. The analysis is carried out by a combination of qualitative and quantitative methodology and applies several research methods, such as systematic literature review, and panel data analysis with application of advanced econometric techniques like Dynamic Ordinary Least Squares, Fixed and Random Effects and Seemingly Unrelated Regressions. Four studies are carried out using these methodologies.The results indicate that the interest rate, disposable income and population growth seem to be major determinants of house prices according to studies found in the empirical literature (Paper 1). The study also classifies house price determinants in relation to the size of their elasticities. However, fundamental factors cannot always provide an explanation for the deviations in house price dynamics in different countries, whereas the institutional environment might do so (Paper 2). The analysis demonstrates that land prices and building policies, along with a number of market fundamentals, affect the average size of an apartment in new residential construction (Paper 3). In the presence of rent control, the rent or price level does not contribute by adding new units to the total housing stock. In addition, the displacement effect occurs primarily in the market’s rental sector and not in the tenant-owned apartments segment (Paper 4).This research contributes to a better understanding of housing markets dynamics and suggests policy implications that might reduce the risks for housing bubbles and improve the socio-economic development of the society over the long run.
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| 6. |
- Engerstam, Sviatlana, et al.
(författare)
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Long-Term Dynamics of New Residential Supply : A Case Study of the Apartment Segment in Sweden
- 2022
-
Ingår i: Buildings. - : MDPI AG. - 2075-5309. ; 12:7, s. 970-
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Tidskriftsartikel (refereegranskat)abstract
- Since the size of the homeownership ratio differs significantly between countries, it is important to understand the mechanisms that lie behind the decrease or growth of certain sectors of the housing market such as rentals and housing cooperatives. The aim of this study is to analyze the long-term dynamics of the new residential supply in Sweden's three largest cities for the period of 1990-2020 and estimate in what way market fundamentals affect it through new construction and housing conversions. We apply panel data methodology and, in distinction to previous research, consider the development of the housing market (urban growth) as physical volume. The results demonstrate that structural changes are driven mainly by fundamental demand factors and that the displacement effect occurs primarily in the market's rental sector and not in the owner-occupied segment. The apartment price per square meter, together with mortgage interest rates, are the major driving factors in the process of converting dwellings into housing cooperatives. Fundamental variables that affect new construction in both the rental and housing cooperative sectors are population and income growth. In the presence of a rent control environment, the rent or price level does not contribute to adding new units to the total housing stock.
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| 7. |
- Ho, Cynthia Sin Tian, 1994-, et al.
(författare)
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Accessibility of bank branches and new firm formation in Sweden
- 2020
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Konferensbidrag (refereegranskat)abstract
- Drawing on location theory, the local relationships between new firm formation and its determinants are explored in 290 municipalities across Sweden. From the robust geographically weighted regression (GWR) models, mostly positive relationships with new firm formation are shown for firm density, human capital level, industry diversification level and percentage of immigrants living in the area. In contrast, mostly negative relationships are shown for weighted mean distance to the nearest bank branches, establishment size, unemployment rate, industry specialization. This paper shows that the weighted distance to bank branches affect new firm formation negatively and this negative relationship is consistent across all the Swedish municipalities.
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| 8. |
- Ho, Cynthia Sin Tian, 1994-, et al.
(författare)
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Geographical accessibility to bank branches and its relationship to new firm formation in Sweden via multiscale geographically weighted regression
- 2022
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Ingår i: Jahrbuch für Regional Wissenschaft. - : Springer Nature. - 0173-7600 .- 1613-9836. ; 42:2, s. 191-218
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Tidskriftsartikel (refereegranskat)abstract
- The geographical accessibility to banks and its relationship with new firm formation can vary across space due to spatial contexts. With increasing bank branch closures in Sweden, it is even more critical to understand where interventions are needed and at which scale, to implement effective policy. Thus, spatial context is incorporated into the analysis with the use of the multiscale geographically weighted regression (MGWR) model. A two-stage least squares (2SLS) model is employed in which two instrumental variables are utilised to instrument the proximity to the nearest bank branch in 2013. The MGWR results show that the geographical distance to the nearest bank branch has a negative association with new firm formation across all Swedish municipalities. The results also show that the relationship between the geographical distance to bank branches and new formation is not spatially varying across space. A policy implication from the analysis shows it is ideal to focus on the geographical accessibility to bank branches as it would continue to play an important role in the financing of new firms, regardless of the location.
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| 9. |
- Hoffman, Tove, et al.
(författare)
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Association between guilds of birds in the African-Western Palaearctic region and the tick species Hyalomma rufipes, one of the main vectors of Crimean-Congo hemorrhagic fever virus.
- 2022
-
Ingår i: Microorganisms. - : MDPI AG. - 2076-2607. ; 10
-
Tidskriftsartikel (refereegranskat)abstract
- The migratory behavior of wild birds contributes to the geographical spread of ticks and their microorganisms. In this study, we aimed to investigate the dispersal and co-occurrence of Francisella and spotted fever group Rickettsia (SFGR) in ticks infesting birds migrating northward in the African-Western Palaearctic region (AWPR). Birds were trapped with mist nests across the Mediterranean basin during the 2014 and 2015 spring migration. In total, 575 ticks were collected from 244 birds. We screened the ticks for the species Francisella tularensis, the genus Francisella, and SFGR by microfluidic real-time PCR. Confirmatory analyses and metagenomic sequencing were performed on tick samples that putatively tested positive for F. tularensis during initial screenings. Hyalomma rufipes was the most common tick species and had a high prevalence of Francisella, including co-occurrence of Francisella and SFGR. Metagenomic analysis of total DNA extracted from two H. rufipes confirmed the presence of Francisella, Rickettsia, and Midichloria. Average nucleotide identity and phylogenetic inference indicated the highest identity of the metagenome-assembled genomes to a Francisella-like endosymbiont (FLE), Rickettsia aeschlimannii, and Midichloria mitochondrii. The results of this study suggest that (i) FLE- and SFGR-containing ticks are dispersed by northbound migratory birds in the AWPR, (ii) H. rufipes likely is not involved in transmission of F. tularensis in the AWPR, and (iii) a dual endosymbiosis of FLEs and Midichloria may support some of the nutritional requirements of H. rufipes.
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| 10. |
- Hoffman, Tove, et al.
(författare)
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Co-occurrence of Francisella and spotted fever group Rickettsia in avian-associated Hyalomma rufipes
- 2022
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Ingår i: Microorganisms. - : MDPI. - 2076-2607. ; 10:7
-
Tidskriftsartikel (refereegranskat)abstract
- Introduction: The migratory behaviour of wild birds aids in the geographical spread of ticks and their microorganisms. Ticks are known to harbor both pathogenic and symbiotic bacteria - such as species of the genera Francisella, Rickettsia,and Midichloria - and multiple bacterial species may occur within them. Francisella occurs in different tick taxa andconsists of closely related pathogenic and non-pathogenic species. Spotted fever group Rickettsia are transmitted to humans by different tick genera and are emerging human pathogens in Europe. The aims of this study were to investigate dispersal of Francisella as well as co-occurrence of Francisella and spotted fever group Rickettsia in ticks infesting northward migrating birds in the African-Western Palaearctic region.Materials and methods: Birds were trapped using mist nets at bird observatories in Spain, Italy, Greece, and Israel during their spring migration of 2014 and 2015. Ticks were screened for the genus Francisella, the species Francisella tularensis, and spotted fever group Rickettsia by microfluidic qPCR. Ticks with putative positive results for F. tularensiswere subjected to confirmation analyses, metagenomics analysis, enrichment, and whole genome sequencing.Results: There was a high prevalence of Francisella species (76.7%) and co-occurrence of Francisella species and spotted fever group Rickettsia (50.6%) in the tick species Hyalomma rufipes. Two H. rufipes yielded putative positive test results for the human pathogen F. tularensis during initial screening. Metagenomics analysis revealed presence of Francisella sp., Rickettsia sp., and Midichloria sp. DNA in the two H. rufipes ticks. The levels of Rickettsia and Midichloria DNA were relatively high while the level of Francisella DNA was low and required enrichment for the construction of metagenome-assembled genomes. Phylogenetic inference and calculations of the average nucleotide identity (ANI) indicated that: i) the Francisella genomes belonged to the Francisella-like endosymbiont (FLE) group in Clade 1 of Francisella and had highest sequence identity to an FLE found in Ornithodoros moubata (ANI: 96.7/97.0%), ii) the Rickettsia genomes had highest resemblance to Rickettsia aeschlimannii (ANI: 98.8 - 99.9%), and iii) the Midichloria genomes resembled Midichloria mitochondrii (ANI: 91.5 - 92.3%).Conclusions: The results of this study suggest ticks containing Francisella species, FLEs, and spotted fever groupRickettsia are dispersed by northbound migratory birds in the African-Western Palaearctic and suggest H. rufipes may not be involved in the transmission of F. tularensis in the study region. Future studies should aim at confirming the prevalence of Francisella spp. and spotted fever group Rickettsia in H. rufipes, in addition to focusing on the influence of FLEs on H. rufipes and their interaction with pathogenic and symbiotic bacteria of the genera Rickettsia and Midichloria.
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| 11. |
- Hoffman, Tove, et al.
(författare)
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Co-Occurrence of Francisella, Spotted Fever Group Rickettsia, and Midichloria in Avian-Associated Hyalomma rufipes
- 2022
-
Ingår i: Microorganisms. - : MDPI. - 2076-2607. ; 10:7
-
Tidskriftsartikel (refereegranskat)abstract
- The migratory behavior of wild birds contributes to the geographical spread of ticks and their microorganisms. In this study, we aimed to investigate the dispersal and co-occurrence of Francisella and spotted fever group Rickettsia (SFGR) in ticks infesting birds migrating northward in the African-Western Palaearctic region (AWPR). Birds were trapped with mist nests across the Mediterranean basin during the 2014 and 2015 spring migration. In total, 575 ticks were collected from 244 birds. We screened the ticks for the species Francisella tularensis, the genus Francisella, and SFGR by microfluidic real-time PCR. Confirmatory analyses and metagenomic sequencing were performed on tick samples that putatively tested positive for F. tularensis during initial screenings. Hyalomma rufipes was the most common tick species and had a high prevalence of Francisella, including co-occurrence of Francisella and SFGR. Metagenomic analysis of total DNA extracted from two H. rufipes confirmed the presence of Francisella, Rickettsia, and Midichloria. Average nucleotide identity and phylogenetic inference indicated the highest identity of the metagenome-assembled genomes to a Francisella-like endosymbiont (FLE), Rickettsia aeschlimannii, and Midichloria mitochondrii. The results of this study suggest that (i) FLE- and SFGR-containing ticks are dispersed by northbound migratory birds in the AWPR, (ii) H. rufipes likely is not involved in transmission of F. tularensis in the AWPR, and (iii) a dual endosymbiosis of FLEs and Midichloria may support some of the nutritional requirements of H. rufipes.
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| 12. |
- Ismail, Mohammad, et al.
(författare)
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An Exploratory Analysis of Housing and the Distribution of COVID-19 in Sweden
- 2022
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Ingår i: Buildings. - : MDPI AG. - 2075-5309. ; 12:1, s. 71-
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Tidskriftsartikel (refereegranskat)abstract
- The impact of COVID-19 on various aspects of our life is evident. Proximity and close contact with individuals infected with the virus, and the extent of such contact, contribute to the intensity of the spread of the virus. Healthy and infected household members who both require sanctuary and quarantine space come into close and extended contact in housing. In other words, housing and living conditions can impact the health of occupants and the spread of COVID-19. This study investigates the relationship between housing characteristics and variations in the spread of COVID-19 per capita across Sweden's 290 municipalities. For this purpose, we have used the number of infected COVID-19 cases per capita during the pandemic period-February 2020 through April 2021-per municipality. The focus is on variables that measure housing and housing conditions in the municipalities. We use exploratory analysis and Principal Components Analysis to reduce highly correlated variables into a set of linearly uncorrelated variables. We then use the generated variables to estimate direct and indirect effects in a spatial regression analysis. The results indicate that housing and housing availability are important explanatory factors for the geographical spread of COVID-19. Overcrowding, availability, and quality are all critical explanatory factors.
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| 13. |
- Ismail, Mohammad, et al.
(författare)
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Do segregated housing markets have a spillover effect on housing prices in nearby residential areas?
- 2021
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Ingår i: Journal of European Real Estate Research. - : Emerald. - 1753-9269 .- 1753-9277. ; 14:2, s. 169-186
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: The purpose of this study is to analyse the trends regarding housing segregation over the past 10–20 years and determine whether housing segregation has a spillover effect on neighbouring housing areas. Namely, the authors set out to determine whether proximity to a specific type of segregated housing market has a negative impact on nearby housing markets while proximity to another type of segregated market has a positive impact. Design/methodology/approach: For the purposes of this paper, the authors must combine information on segregation within a city with information on property values in the city. The authors have, therefore, used data on the income of the population and data on housing values taken from housing transactions. The case study used is the city of Stockholm, the capital of Sweden. The empirical analysis will be the estimation of the traditional hedonic pricing model. It will be estimated for the condominium market. Findings: The results indicate that segregation, when measured as income sorting, has increased over time in some of the housing markets. Its effects on housing values in neighbouring housing areas are significant and statistically significant. Research limitations/implications: A better understanding of the different potential spillover effects on housing prices in relation to the spatial distribution of various income groups would be beneficial in determining appropriate property assessment levels. In other words, awareness of this spillover effect could improve existing property assessment methods and provide local governments with extra information to make an informed decision on policies and services needed in different neighbourhoods. Practical implications: On housing prices emanating from proximity to segregated areas with high income differs from segregated areas with low income, policies that address socio-economic costs and benefits, as well as property assessment levels, should reflect this pronounced difference. On the property level, positive spillover on housing prices near high-income segregated areas will cause an increase in the number of higher income groups and exacerbate segregation based on income. Contrarily, negative spillover on housing prices near low-income areas might discourage high-income households from moving to a location near low-income segregated areas. Local government should be aware of these spillover effects on housing prices to ensure that policies intended to reduce socioeconomic segregation, such as residential and income segregation, produce desirable results. Social implications: Furthermore, a good estimation of these spillover effects on housing prices would allow local governments to carry out a cost–benefit analysis for policies intended to combat segregation and invest in deprived communities. Originality/value: The main contribution of this paper is to go beyond the traditional studies of segregation that mainly emphasise residential segregation based on income levels, i.e. low-income or high-income households. The authors have analysed the spillover effect of proximity to hot spots (high income) and cold spots (low income) on the housing values of nearby condominiums or single-family homes within segregated areas in Stockholm Municipality in 2013.
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| 14. |
- Ismail, Mohammad, et al.
(författare)
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Schools' Capitalization into Housing Values in a Context of Free School Choices
- 2022
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Ingår i: Buildings. - : MDPI AG. - 2075-5309. ; 12:7, s. 1021-
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Tidskriftsartikel (refereegranskat)abstract
- The issue of schools and their capitalization in property values has been analyzed extensively. Our contribution is to analyze this effect in an alternative institutional context. In this case study, we analyzed the housing market in Stockholm, Sweden. What distinguishes the Swedish school system is that we have a free choice of schools, which means that a family does not necessarily have to live in a school district to access the schools in that area. This means that families do not have to move to the district to which they intend to send their children but can apply to send them there regardless of whether they live there or not. Nevertheless, families might be interested in living close to good schools to be within walking distance of these schools. This is especially true at the primary school level. Therefore, we analyzed schools' capitalization in property values in the context of free school choice. We used data on transaction prices for condominiums in Stockholm's inner city. The results indicate a capitalization of living close to good schools, but this capitalization is limited. We can show that schools' capitalization depends partly on the quality of the schools and partly on whether or not they are co-located with other externalities, such as green areas. The results also indicate that capitalization is affected by income differences within the city.
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| 15. |
- Ismail, Mohammad, et al.
(författare)
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Who Owns the City, and Why Should We Care?
- 2022
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Ingår i: Land. - : MDPI. - 2073-445X. ; 11:4
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Tidskriftsartikel (refereegranskat)abstract
- Who owns the city, and why is it important to know? The city constantly makes decisions that affect municipal residents regarding municipal services, land use, and financing. The cost is often linked directly to the municipal residents, but the benefits of some decisions directly affect the property owners and only indirectly affect the municipal residents. On the other hand, the property owners can be residents in the city or the country, but they can also be foreign property owners. Therefore, the distribution of costs will differ from the distribution of benefits. The study aims to investigate and analyse real estate owners in some focus areas in the Stockholm municipality in terms of nationality, patterns of real estate usage, area of properties, and the nature of ownership.
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| 16. |
- Kerimo, Feyyaz, 1965-
(författare)
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Etniskt entreprenörskap, sociala nätverk och konflikthantering: Fallstudie om assyriskt företagande i Sverige
- 2023
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Licentiatavhandling (övrigt vetenskapligt/konstnärligt)abstract
- Huvudämnet för denna studie är de svårigheter som etniska entreprenörer möter för att etablera sina företag, hur och i vilken utsträckning de drar nytta av sina sociala nätverk, användningen av informella system och konflikthantering. Urvalet av studien består av assyriska entreprenörer som är verksamma inom olika sektorer i Sverige. En detaljerad intervju genomfördes med 20 assyriska entreprenörer. Resultaten av studien visar om den viktiga roll som det privata sociala nätverk som assyriska entreprenörer spelar i etableringsprocessen av företagen och hur entreprenörerna hanterar sina företag.Syftet är undersöka vilka svårigheter assyriska företagare i Sverige har att hitta finansiellt kapital under etableringsfasen och vilka finansieringslösningar de har utvecklat. Tidigare forskning har visat att invandrarföretagare upplever diskriminering vid tillgång till kapital, vilket kan leda till att många företagare lägger ner sina företag. Därför fortsätter forskningen att undersöka problemet med invandrarföretagares tillgång till kapital. Den här studien är inriktad på den teoretiska grunden för studier om entreprenörskap i småföretag. För det första uppmärksammas betydelsen av faktorer som finansiellt kapital, humankapital och socialt kapital som påverkar företagsstarten. För det andra visas genom en analys av befintliga teorier om etniskt entreprenörskap att det är nödvändigt att beakta teorier om mänskligt, socialt och kulturellt kapital tillsammans. För det tredje betonas att konflikter kan ha en betydande inverkan på företagets framgång.
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| 17. |
- Kulander, Maria, 1967-, et al.
(författare)
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What Determines the Supply of Housing for the Elderly, and How Is it Related to the Spread of COVID-19?
- 2022
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Ingår i: Journal of Aging and Environment. - : Informa UK Limited. - 2689-2618 .- 2689-2626. ; 36:4, s. 357-380
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Tidskriftsartikel (refereegranskat)abstract
- As in many other countries, the population of Sweden is getting older. This means that the number of older people in society will increase in absolute numbers and relative terms. Consequently, the need for elderly housing will increase, and the cost of these investments will be high. The following study aims to perform a quantitative analysis of the spatial distribution of the number and size of housing units for the elderly in Sweden in 2013–2018. The number of elderly housing units per capita is not evenly distributed, and a large part of the explanation is, of course, that the number of older people is not evenly distributed between municipalities. Nevertheless, we can also state that the municipality’s income level and tax base, as well as the geographical size and degree of urbanization, play a role. If the municipality has a surplus or deficit in the supply of special housing for the elderly, it does not correlate with the distribution of COVID-19 cases.
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| 18. |
- Kulander, Maria, 1967-, et al.
(författare)
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What determines the supply of housing for the elderly, and how is it related to the spread of Covid-19 and future demographic changes?
- 2020
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- As in many other countries, the population in Sweden is getting older. It means that the number of older people in society increases in absolute numbers and relative terms. Consequently, this will mean that the need for elderly housing will increase and the cost of these investments will be high. The following study aims to quantitatively analyse the spatial distribution of the number and size of housing for the elderly in Sweden over 2013-2018. The number of elderly housing per capita is not evenly distributed, and a large part of the explanation is, of course, that the number of older people is not evenly distributed between municipalities. Nevertheless, we can also state that the municipality's income level and tax base, as well as the geographical size and degree of urbanisation, play a role. If the municipality has a surplus or deficit in the supply of special housing for the elderly, it has no correlation with the distribution of Covid-19 cases or with the forecast number of older people in the future.
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| 19. |
- Millanzi, Egino, 1968-
(författare)
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Housing finance methods in urban Tanzania : The case of households in Kinondoni Municipality, Dar es Salaam, Tanzania
- 2023
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- Effective housing finance methods require the interrelationships between the housing finance system components such as banking and capital markets, land registry, the housing sector, and macroeconomic and socioeconomic aspects. Nonetheless, despite the exclusion of the majority of the households by formal long-term housing finance methods, Tanzania has experienced substantial improvement in housing development in the last two decades. This study explored how the aspects of housing finance methods, household financing decisions, housing affordability and expenditures are linked to effective housing finance in Tanzania. The study integrated a range of theories, namely; financial theories, housing finance system theory as well as bricolage and effectuation approach to explain the household's financing decisions. The explanatory sequential mixed methods design was used to determine household financing options. Results indicate that informal finance and microfinance are preferred relative to housing mortgage finance methods. The market share of housing mortgages is less than 10 per cent. Moreover, the study established that informal and formal methods coexist. Findings also confirmed that community-based finance schemes play an important role in the housing finance system, and that many house owners use more than one source of finance. This implies that the bricolage and effectuation approach to housing results in emerging unconventional housing finance methods. The study further found that housing expenditures are constrained by large family size, low household income, lack of property collateral, high-interest rates and lack of affordability, all of which linked to poor employment status, house type, and lack of property collateral and high-interest rates. The study also revealed that different choices of the housing finance methods are influenced by age of breadwinners, level of employment and interest rates. This implies that, the macroeconomic environment, banking industry and capital markets constrain the household's financing decisions, housing expenditures and affordability. Therefore, a multisector policy approach is required that can help to provide for effective housing finance methods, enhance housing affordability and tackle housing expenditures. The policies need to ensure effective housing delivery system, stability of the interest rates, inclusive and affordable financial services, effective land registration systems, strong banking industry and capital markets and better follow up of housing expenditures.
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| 20. |
- Song, Zisheng, et al.
(författare)
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Constructing segmented rental housing indices : evidence from Beijing, China
- 2022
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Ingår i: Property Management. - : Emerald. - 0263-7472 .- 1758-731X. ; 40:3, s. 409-436
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Tidskriftsartikel (refereegranskat)abstract
- Purpose – This paper aims to construct rental housing indices and identify market segmentation for moreeffective property-management strategies.Design/methodology/approach – The hedonic model was employed to construct the rental indices. Usingthe k-meansþþ and REDCAP (Regionalisation with Dynamically Constrained Agglomerative Clustering andPartitioning) approaches, the authors conducted clustering analysis and identified different marketsegmentation. The empirical study relied on the database of 80,212 actual rental transactions in Beijing,China, spanning 2016–2018.Findings – Rental housing market segmentation may distribute across administrative boundaries. Properlysegmented indices could provide a better account for the heterogeneity and spatial continuity of rental housingand as well be crucial for effective property management.Research limitations/implications – Residential rent might not only vary over space but also interplayswith housing price. It would be worth studying how the rental market functions together with the owneroccupied sector in the future.Practical implications – Residential rental indices are of great importance for policymakers to be able toevaluate housing policies and for property managers to implement competitive strategies in the rental market. Their constructions largely depend on the analysis of market segmentation, a trade-off between housing spatialheterogeneity and continuity.Originality/value – This paper fills the gap in knowledge concerning segmented rental indices construction,particularly in China. The spatial constrained clustering approach (REDCAP) was also initially introduced toidentify regionalised market segmentation due to its superior performance.
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| 21. |
- Song, Zisheng
(författare)
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Rental housing markets in Chinese megacities : Heterogeneity, Mobility, and Interconnectivity
- 2022
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The purpose of this thesis is to develop an in-depth understanding of the rental housing market in Chinese megacities. To achieve this purpose, this thesis mainly focuses on three aspects: heterogeneity, mobility, and interconnectivity. It begins with constructing segmented rental indices and identifying market segmentation in Beijing, China, in Paper 1. It then proceeds with an extensive discussion about the neighborhood effects on rents, mainly involving the capitalization of school quality and its differentiation over space and time, in Paper 2. Considering the aggregate housing market, it is also worth investigating the interconnectivity between rental and owner-occupied sectors as evaluated in Paper 3. As an important body in the rental sector, tenants' preferences and residential mobility are crucial for the housing market. To address this concern, this thesis utilizes a push-pull model to detect determinants of tenants' relocation intentions from megacities to other urban areas in Paper 4. Beijing is selected for empirical study throughout this thesis because it is a typical megacity and the capital of China. Beijing is characterized by a huge rental population (residents and migrants), strict control of household registration (namely hukou in China), competitive public sources and employment, unaffordable housing prices, etc. Thus, understanding the rental housing market in Beijing can shed light on implications in other megacities and larger cities. The findings of this thesis can contribute theoretically and empirically to the real world. Rental submarkets differ in housing quality and space. Well-constructed segmented rental indices can effectively reflect rent volatility across market segmentations and improve the transparency of the rental market. Besides, neighborhood quality schools can significantly capitalize rents. A higher capitalization of quality schools may indicate inequality between tenants and homeowners in access to quality schools. Also, rents can be significantly affected by housing prices. Apart from rents, this thesis evaluates many determinants of tenants' relocation decisions, such as the pushing force of the hukou system and rental dissatisfaction, and the pulling force of homeownership in certain destinations.
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| 22. |
- Westlund, Hans, 1957-, et al.
(författare)
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The Socio-Economic Cost of Wind Turbines : A Swedish Case Study
- 2021
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Ingår i: Sustainability. - : MDPI AG. - 2071-1050. ; 13:12, s. 6892-
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Tidskriftsartikel (refereegranskat)abstract
- The expansion of wind turbines plays a significant role in developing the ability of a country like Sweden to achieve climate-neutral energy production without relying on nuclear power plants. Wind-turbine energy production is expected to grow in the coming decades. Conflicts may arise between, on the one hand, the government and the energy authority, and, on the other hand, municipalities and property owners, especially if this expansion affects other economic activities, such as tourism and reindeer husbandry, or property values. This report aims to analyse the negative capitalization of wind turbines on property values in Sweden over the last ten years. Our conclusions clearly show a relatively significant capitalization and that this capitalization is relatively local, within eight kilometers of the wind power plant. Large wind turbines, or larger clusters of wind turbines in wind farms, impose a greater socio-economic cost on lower value properties.
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| 23. |
- Wilhelmsson, Mats
(författare)
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About the Importance of Planning the Location of Recycling Stations in the Urban Context
- 2022
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Ingår i: Sustainability. - : MDPI. - 2071-1050. ; 14:13
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Tidskriftsartikel (refereegranskat)abstract
- Recycling is essential to the circular economy and reduces the environmental impact of our consumption. Creating conditions for recycling in new residential areas is relatively easy but finding good recycling opportunities in existing residential areas is more complicated. The recycling of newspapers, plastic and glass must be relatively close to where people live; at the same time, the locations must be relatively discreet and not disturb the residents in the area. The purpose of the article is to analyse the effect of small and local recycling stations (RCSs) on the attractiveness of residential areas. This has been made possible by analysing housing values for almost 200,000 housing units near 250 RCSs in Stockholm, Sweden. Using an identification strategy that relies on postal code fixed effects, we find evidence that the proximity to RCS affects housing prices on average in both owner-occupied single-family houses and cooperative owner-occupied apartments (condominiums). The results indicate that proximity to the RCS is negatively capitalised in housing values (the effect amounts to approximately 1.3 percent of the housing values), which indicates that the city should consider this in its planning.
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| 24. |
- Wilhelmsson, Mats
(författare)
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Demand for rent-regulated apartments in the Swedish housing market
- 2023
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Ingår i: Housing Studies. - : Informa UK Limited. - 0267-3037 .- 1466-1810. ; , s. 1-25
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Tidskriftsartikel (refereegranskat)abstract
- We are analysing Stockholm, Sweden’s regulated rental housing market, by analysing the distribution of rental apartments based on a person’s position in the housing agency queue. Our objective is to examine queue times and estimate the demand for rent-regulated apartments, as well as the market’s income elasticity. Using the hedonic two-step approach, we use empirical data from rental contracts provided by the Stockholm Housing Agency to investigate the relationship between individual waiting times and their characteristics, such as income, age, and family composition. The empirical analysis found a strong willingness to pay for rent-regulated apartments, especially for larger homes in better locations with lower regulated rent. The demand for rental apartments increases with increasing income, but this effect is less pronounced in the current distribution system. The findings will be valuable to real estate developers, property owners, and city planners to improve policies for the rental housing market.
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| 25. |
- Wilhelmsson, Mats
(författare)
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Evaluating the price effects of multifamily and single-family housing construction on surrounding single-family homes in Stockholm: a difference-in-difference analysis
- 2023
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Ingår i: International Journal of Housing Markets and Analysis. - : Emerald. - 1753-8270 .- 1753-8289. ; 16:7, s. 103-126
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development. Design/methodology/approach: To achieve this objective, the author used the difference-in-difference methodology to examine the effect of multifamily and single-family housing construction on surrounding single-family homes in Stockholm, Sweden. The author analysed data from approximately 480 housing construction projects between 2009 and 2014 and 17,000 single-family detached house transactions between 2005 and 2018. Findings: The research found that multifamily construction projects did not affect the value of surrounding single-family homes, while single-family home construction had a negative impact. The author attributes this result to single-family housing projects typically located in areas with initially positive externalities, while multifamily housing projects are often located on the edge of areas with negative externalities before construction. Research limitations/implications: The research is limited by its focus on a specific geographic area and time frame, and future research could expand the scope to include other cities and regions and different periods. Additionally, further research could examine the impact of housing construction on other economic factors beyond housing values. Practical implications: The research has practical implications for urban planners and policymakers. They should consider the potential negative impact of new single-family home construction on existing single-family housing areas while balancing the need for new housing in urban areas. By carefully evaluating construction locations, policymakers can create more sustainable, livable and equitable urban environments that benefit all members of society. Originality/value: This research paper contributes to the field of housing economics by examining the impact of housing construction on single-family housing values in the context of urban development and climate change mitigation. Using a difference-in-difference methodology, the study provides evidence of the price effect of multifamily and single-family housing construction on surrounding single-family homes, which has important policy implications for urban planners and policymakers. By identifying the negative impact of single-family home construction on surrounding areas and highlighting the need for careful evaluation of construction locations, the research provides valuable insights for creating sustainable, livable and equitable urban environments that benefit all members of society.
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| 26. |
- Wilhelmsson, Mats, et al.
(författare)
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Gentrification effects on housing prices in neighbouring areas
- 2021
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Ingår i: International Journal of Housing Markets and Analysis. - : Emerald. - 1753-8270 .- 1753-8289.
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This study aims to measure the occurrence of gentrification and to relate gentrification with housing values. Design/methodology/approach: The authors have used Getis-Ord statistics to identify and quantify gentrification in different residential areas in a case study of Stockholm, Sweden. Gentrification will be measured in two dimensions, namely, income and population. In step two, this measure is included in a traditional hedonic pricing model where the intention is to explain future housing prices. Findings: The results indicate that the parameter estimate is statistically significant, suggesting that gentrification contributes to higher housing values in gentrified areas and near gentrified neighbourhoods. This latter possible spillover effect of house prices due to gentrification by income and population was similar in both the hedonic price and treatment effect models. According to the hedonic price model, proximity to the gentrified area increases housing value by around 6%–8%. The spillover effect on price distribution seems to be consistent and stable in gentrified areas. Originality/value: A few studies estimate the effect of gentrification on property values. Those studies focussed on analysing the impacts of gentrification in higher rents and increasing house prices within the gentrifying areas, not gentrification on property prices in neighbouring areas. Hence, one of the paper’s contributions is to bridge the gap in previous studies by measuring gentrification’s impact on neighbouring housing prices.
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| 27. |
- Wilhelmsson, Mats
(författare)
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How Does the Presentation of Energy Performance Affect the Price of Houses? : A Case Study of Detached Houses in Stockholm, Sweden
- 2023
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Ingår i: Buildings. - : MDPI AG. - 2075-5309. ; 13:6
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Tidskriftsartikel (refereegranskat)abstract
- Our study aims to analyse whether the capitalisation of a property's energy performance is affected by how it is presented. In place since 2002, there is an EU directive mandating the introduction of an energy performance certificate (EPC) when selling detached houses. This directive was implemented in Sweden in 2009. We analyse how EPC capitalised on housing prices during 2012-2018 for detached houses in Stockholm. This was previously carried out, but our contribution is to analyse both the effect of energy rating or labelling (A-G) and energy consumption (kWh/m(2)). How energy performance is communicated or displayed to potential buyers conveys that the format, style, and content of energy performance information may influence how buyers perceive its value and impact on the property's market price. We have information on energy rating, consumption, or both for selected properties. This allows us to test the hypothesis that how energy performance is presented affects pricing. We also tested whether information affects different age cohorts differently. The results indicate that how energy performance is presented and visualised is important and that information about rating and consumption might be considered as a substitute for each other. It is also clear that the capitalisation effect differs depending on the age of the building.
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| 28. |
- Wilhelmsson, Mats, et al.
(författare)
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What effect does gun-related violence have on the attractiveness of a residential area? : The case of Stockholm, Sweden
- 2022
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Ingår i: Journal of European Real Estate Research. - : Emerald Group Publishing Limited. - 1753-9269 .- 1753-9277. ; 15:1, s. 39-57
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This study aims to analyse the effect of gun-related violence on housing values, controlling for the area's crime levels and locational factors. Previous studies that aimed to find a causal connection between crime and housing values used instrument variables to solve the endogeneity problem. Here, the authors have instead been able to take advantage of the fact that shootings have occurred in random time and space. This has made it possible to estimate models to create windows around the shooting (event) and to estimate the causal effects of the shootings. Thus, the authors aim to contribute to the regression discontinuity design method in this context to estimate the short-term effects.Design/methodology/approach: Using the regression discontinuity design method, the authors can estimate the short-term effects of shootings.Findings: Findings from the analysis indicate that shootings directly affect those who are impacted by shootings and indirectly affect the environments where shootings occur. The indirect effect of shootings is momentary as it is capitalised directly in housing values in the immediate area. The effect also appears to be relatively long-term and persistent as housing values have not returned to the price level before the shooting 100–200 days after the shooting. The capitalisation effect is higher the closer one gets to the central parts of the city. On the other hand, the capitalisation effect is not higher or lower in areas with a higher crime rate per capita.Originality/value: The article contributes to the previous literature in several ways. First and foremost, it provides an explicit analysis of shootings in built-up areas and their hypothesised effect on property prices through the impact on attractiveness and perceived safety. As far as the authors know, no study has analysed this issue on the international level or in Sweden. In this way, the authors aim to develop a study that can provide critical knowledge about one of the adverse effects of shootings. The authors also contribute to the literature by utilising unique data material, which allows the authors to merge information from the police about the exact location of shootings in the Stockholm area with data on sales of apartments in the same residential areas. In addition to the exact location of the shootings (coordinates), the authors also have access to data about whether the shootings led to injuries or deaths. Thus, the authors have separated the effect of shootings and fatal shootings, which has not been done before. Finally, the authors set out to highlight the results as a contribution to the debate on shootings.
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| 29. |
- Wilhelmsson, Mats
(författare)
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What is the impact of macroprudential regulations on the Swedish housing market?
- 2022
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Ingår i: Journal of Housing Economics. - : Elsevier BV. - 1051-1377 .- 1096-0791. ; 57
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Tidskriftsartikel (refereegranskat)abstract
- Housing shortages and urbanization have led to higher house prices and higher levels of household debt. Sweden's Financial Supervisory Authority has introduced several borrower-based, macroprudential tools to control debt growth over the last ten years. In 2010, a mortgage loan-to-value (LTV) ratio was introduced, and in 2016, the amortization of 1 percent of the loan balance was mandated by law if a mortgage's value was higher than 50 percent of the property value. Furthermore, in 2018, the amortization requirement was tightened, as all households with a mortgage valued at larger than 4.5 times their annual income were forced to be amortized by 1 percent of the loan balance. The question is whether the Financial Supervisory Authority's macroprudential tools have exerted the intended effect. We combine a hedonic regression modeling approach with a regression discontinuity design (RDD) to estimate the causal impact on house prices. The effect of these macroprudential tools is estimated on the single-family housing market and the condominium market. We are using microdata of one million housing transactions between 2008 and 2019. Our estimates indicate that the amortization requirement in 2016 resulted in a negative impact of around 7 percent on housing prices but that a slightly lower impact resulted from the 2018 amortization requirement. The 2010 LTV ratio requirement did not impact the prices of dwellings.
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| 30. |
- Wilhelmsson, Mats
(författare)
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What Role Does the Housing Market Play for the Macroeconomic Transmission Mechanism?
- 2020
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Ingår i: Journal of Risk and Financial Management. - : MDPI. - 1911-8074. ; 13:6
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Tidskriftsartikel (refereegranskat)abstract
- The main objective is to answer the question: What role does the housing market play for the transmission mechanism and (in particular) is the impact constant over time? The research question also includes analyzing the importance of the housing market for the transmission mechanism. We estimate an eight-variable structural vector autoregression (SVAR) model of the Swedish economy over the period 1993 and 2018 using quarterly data, covering both the internet bubble in 2000 and the financial crises in 2008. The results indicate that interest rates have both a direct effect on housing prices and an indirect impact through the bank lending channel. Over time, the traditional interest rate channel importance has been stable. On the other hand, the role of the bank lending channel has increased over time. Household debt has increased substantially in Sweden and elsewhere. That means that the interest rate sensitivity in society has increased. Based on the results, it is possible to evaluate and forecast potential house price effects (both direct and indirect) when the interest rate changes.
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| 31. |
- Zheng, Mo
(författare)
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Essays on Empirical applications of Real Estate Economics and Finance
- 2022
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This doctoral thesis is a collection of four essays that utilize cross-sectional and time-series econometric methods in real estate economics and finance. The first two essays apply econometric modeling to the residential market focusing on hedonic regression analysis, while the other two essays apply financial econometric modeling on an index of listed real estate stocks, and house price index indices. The first essay, “The effects of redlining in Singapore’s red-light district”, analyses the red-light phenomenon in relation to sales prices and rent prices, and tests the redlining effect on property markets. The second essay, “Buyer’s willingness to pay for dwellings with different orientations”, applies spatial hedonic econometric models to estimate the willingness of buyers to pay for dwellings with different orientations in Beijing. Essay three, “Modelling and forecasting volatility of daily listed real estate returns focusing on periods of economic crises”, discusses the univariate dynamic volatility behavior of Swedish daily listed real estate sector index returns and analyses the existence and degree of long-range dependence or asymmetric news effect focusing on periods of economic crises in the past four decades with various volatility models. The last essay, “Estimating VaR for house price indices - one suit doesn't fit all“, applies a wide range of value-at-risk models to measure the downside risks of house prices in different countries.
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