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Time series analysis of repo rates and mortgagecaps eect on house price index
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2014 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Tidsserieanalys av reporantans ochbolanetakets eekt pafastighetsprisindex (Swedish)
Abstract [en]

Price trends on the Swedish housing market has risen sharply in recent decades

and is at the moment up to the highest price level ever. The sharp price

movements have opened up for discussion about a possible housing bubble. To

prevent this the Riksbank can change the repo rate, which in turn aects the

lenders' lending rates.

Finansinspektionen introduced in autumn 2010, a mortgage cap which means

that the house will be mortgaged to a maximum of 85 percent of its market

value. The purpose of this was to cool the housing market and prevent the unsustainable

development of household debt.

The purpose of this study is to examine in particular the repo rates and the

mortgage caps eect on house prices in Sweden. Although other variables that

aect supply and demand in the housing market from a macroeconomic perspective

will be included in the model, such as GDP, unemployment and the

nancial crisis of 2008. This study has been done by using a quantitative analysis,

consisting of time series analysis.

The results conrm all the investigated variables expected impact on house

prices. As for the repo rate and the mortgage cap the results showed that these

have a negative eect on house prices in Sweden.

Abstract [sv]

Prisutvecklingen pa den Svenska bostadsmarknaden har stigit kraftigt under

de senaste decennierna och ar just nu uppe i den hogsta prisnivan nagonsin.

Den kraftiga prisutvecklingen har oppnat for diskussion om en eventuell bostadsbubbla.

For att motverka detta kan Riksbanken andra reporantan som i

sin tur paverkar kreditgivarnas utlaningsranta.

Finansinspektionen inforde under hosten 2010 ett bolanetak som innebar att

bostaden hogst ska belanas till 85 procent av marknadsvardet. Detta for att

kyla bostadsmarknaden och motverka den ohallbara utvecklingen av hushallens


Syftet med denna studie ar att framforallt undersoka reporantans och bolanetakets

eekt pa smahuspriser i Sverige. Aven andra variabler som paverkar utbudet och

efterfragan pa bostadsmarknaden ur ett makroekonomiskt perspektiv kommer

att inga i modellen, till exempel BNP, arbetsloshet och nanskrisen 2008. Detta

genomfors med hjalp av en kvantitativ analys, bestaende av tidsserieanalys.

Resultatet bekraftar alla undersokta variablers vantade eekter pa smahuspriser.

Vad galler reporantan och bolanetaket sa visade resultatet pa att dessa har negativ

eekt pa smahuspriser i Sverige.

Place, publisher, year, edition, pages
Keyword [en]
Time series analysis, house price index, repo rate, mortgage cap
Keyword [sv]
Tidsserieanalys, fastighetsprisindex, reporanta, bolanetak
National Category
Engineering and Technology
URN: urn:nbn:se:kth:diva-147373OAI: diva2:729917
Available from: 2014-06-26 Created: 2014-06-26 Last updated: 2014-06-26Bibliographically approved

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