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Shared Ownership: A vehicle for property investments and decreased household indebtedness and increased affordability
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2018 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Hyrköp av bostad (Swedish)
Abstract [en]

There is a housing shortage in attractive urban areas in Europe and Sweden. The waiting lists for affordable rental housing are increasing and that in turn creates pressure on owner-occupied housing. Inflated asset prices and household debt have become a major concern for policy makers. Shared ownership is a mixture of equity and debt, therefore, a mixture of owner-occupation and rental accommodation. In the UK it´s used by the non-profit sector to help households to buy their own home. In this research a shared ownership model is developed for the Swedish property market. The model is commercially viable and used to extend traditional mortgage finance. The findings suggest that the proposed model can increase household affordability and lower their exposure to the financial markets. An investor will gain a market rate of return and access a market segment different from rental housing, shared ownership is an investment in owner-occupational housing. The major drawback of the model is the relationship between the bank and the investor. The bank will require priority to the collateral which results in a complicated and inflexible model. Further research should investigate the possibility of sharing collateral which would result in a simpler and more flexible model.

Abstract [sv]

Bostadsbristen i europeiska och svenska storstadsregioner har resulterat i långa köer till rimliga hyresrätter. Detta har ökar pressen på bostadsrätter och ökat hushållens skuldsättning, vilket ses som ett potentiellt hot mot ekonomin. Hybridköp av bostäder innebär att bostadskonsumenten hyr en del av bostaden och köper den andra. I Storbritannien subventioneras detta av staten för att hjälpa hushåll att köpa sin bostad. Målet med denna studie är att skapa en modell för hybridköp i Sverige. Modellen kommer att komplimentera bostadslån och drivas på kommersiella grunder. Resultatet av studien visar att konsumenten kan ökar sin köpkraft och minska exponeringen mot den finansiella marknaden. Investeringen har en marknadsmässig avkastning och ger en möjlighet att investera i bostadsrätter och småhus, ett segment som skiljer sig från hyresrätter. Den största nackdelen är att banken kommer att kräva prioritet till säkerheten som ligger i bostaden vilket resulterar i en komplicerad modell. Fortsatta studier borde utforska möjligheten att dela säkerheten mellan investeraren och banken.

Place, publisher, year, edition, pages
2018. , p. 51
Series
TRITA-ABE-MBT ; 18136
Keywords [en]
Shared Ownership Model, Sweden
Keywords [sv]
Hyrköp av bostad, Sverige
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-260086OAI: oai:DiVA.org:kth-260086DiVA, id: diva2:1354547
Supervisors
Examiners
Available from: 2019-09-25 Created: 2019-09-25 Last updated: 2019-09-25Bibliographically approved

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CiteExportLink to record
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