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Increased rent misspent? How ownership matters for renovation and rent increases in rental housing in Sweden

Mangold, Mikael ; Bohman, Helena ; Johansson, Tim and von Platten, Jenny LU (2023) In International Journal of Housing Policy
Abstract
Renovations of the housing rental stock have become a political concern since they have been claimed to drive gentrification and affect tenants’ everyday lives as well as long-term housing conditions. Furthermore, new actors have entered the market, partly as a result of high supply on the international capital markets creating a flow of capital into market segments. This has led to a critique of private equity in the housing sector, and raised the question of the extent to which ownership of the rental stock matters for housing affordability. Yet there seems to be little systematic research on this topic. This study uses a unique dataset covering the entire rental housing stock in Sweden to address whether there are differences in... (More)
Renovations of the housing rental stock have become a political concern since they have been claimed to drive gentrification and affect tenants’ everyday lives as well as long-term housing conditions. Furthermore, new actors have entered the market, partly as a result of high supply on the international capital markets creating a flow of capital into market segments. This has led to a critique of private equity in the housing sector, and raised the question of the extent to which ownership of the rental stock matters for housing affordability. Yet there seems to be little systematic research on this topic. This study uses a unique dataset covering the entire rental housing stock in Sweden to address whether there are differences in renovation investments between different ownership groups. The purpose of this article is to increase understanding of how ownership affects renovation processes, and specifically to analyse to what extent, and how, private and public actors differ in renovation and rent setting decisions. Our results demonstrate that public housing companies raised rents less and renovated more, particularly in the lower-income segments of the multi-family building stock between 2014 and 2020. (Less)
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author
; ; and
organization
publishing date
type
Contribution to journal
publication status
epub
subject
in
International Journal of Housing Policy
pages
23 pages
publisher
Taylor & Francis
external identifiers
  • scopus:85166927309
ISSN
1949-1247
DOI
10.1080/19491247.2023.2232205
language
English
LU publication?
yes
additional info
doi: 10.1080/19491247.2023.2232205
id
9ccee302-c5f6-454b-9c24-78774136516b
date added to LUP
2023-08-23 13:49:59
date last changed
2023-08-24 04:14:10
@article{9ccee302-c5f6-454b-9c24-78774136516b,
  abstract     = {{Renovations of the housing rental stock have become a political concern since they have been claimed to drive gentrification and affect tenants’ everyday lives as well as long-term housing conditions. Furthermore, new actors have entered the market, partly as a result of high supply on the international capital markets creating a flow of capital into market segments. This has led to a critique of private equity in the housing sector, and raised the question of the extent to which ownership of the rental stock matters for housing affordability. Yet there seems to be little systematic research on this topic. This study uses a unique dataset covering the entire rental housing stock in Sweden to address whether there are differences in renovation investments between different ownership groups. The purpose of this article is to increase understanding of how ownership affects renovation processes, and specifically to analyse to what extent, and how, private and public actors differ in renovation and rent setting decisions. Our results demonstrate that public housing companies raised rents less and renovated more, particularly in the lower-income segments of the multi-family building stock between 2014 and 2020.}},
  author       = {{Mangold, Mikael and Bohman, Helena and Johansson, Tim and von Platten, Jenny}},
  issn         = {{1949-1247}},
  language     = {{eng}},
  publisher    = {{Taylor & Francis}},
  series       = {{International Journal of Housing Policy}},
  title        = {{Increased rent misspent? How ownership matters for renovation and rent increases in rental housing in Sweden}},
  url          = {{http://dx.doi.org/10.1080/19491247.2023.2232205}},
  doi          = {{10.1080/19491247.2023.2232205}},
  year         = {{2023}},
}