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Hur har reporäntan påverkat prisutvecklingen på fastigheter?
University West, School of Business, Economics and IT, Divison of Law, Economics, Statistics and Politics.
University West, School of Business, Economics and IT, Divison of Law, Economics, Statistics and Politics.
2018 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

Syftet med denna studie är att undersöka hur reporäntan har påverkat fastighetspriserna i Sverige. Reporäntan har under de senaste åren sänkts till rekordlåga, och till och med negativa nivåer. Mellan perioden 1994–2017 så har fastighetspriserna i snitt ökat med 440% i landet, att jämföra med konsumentprisindex som under perioden ökat med 130%. Vad som ligger till grund för denna massiva prisuppgång på fastigheter är ännu inte helt klar. Tidigare forskning är ännu inte helt överens, en del hävdar att räntan har haft avsevärt störst effekt, medans andra hävdar att andra faktorer har spelat in. För att ta reda på hur mycket fastighetspriset påverkas av reporäntan så har regressionsanalyser skapats. I regressionerna har bolåneräntan använts som beroende variabel. Detta har ansetts godkänt med tanke på den höga korrelation (98%) som reporäntan och bolåneräntan har. Resultatet av regressionerna tyder på att en ökning av bolåneräntan med en procent skulle innebära att fastighetspriserna tenderar att minska med 0,12928%.

Abstract [en]

The purpose of this study is to examine the effect the repo rate has had on real estate price index in Sweden. During the past years, the repo rate has been lowered to record low rates, now even negative rates. During the period 1994-2017 the real estate prices on average increased by 440%, compare this with the consumer price index which increased by 130% during the same period. The definitive reason behind this massive increase in real estate prices is not quite clear. Previous research does not show the exact same results. Some consider the repo rate being the greatest factor in real estate price index while some consider other factors plays a greater part in describing the price increase. To find out how much the real estate price index has been affected by the record low repo rates a regression analysis have been used. In the regression analysis the mortgage rate has been used instead of the repo rate. This has been considered okay because of the high correlation (98%) between the repo rate and the mortgage rate. The results of the regression analysis show that an increase by one percent in the mortgage rate, would on average tend to decrease the value of real estate prices in Sweden by 0,12928%.

Place, publisher, year, edition, pages
2018. , p. 30
Keywords [en]
Repo rate, mortgage rate, regressionanalysis, greater fool theory, correlation
Keywords [sv]
Reporänta, bolåneränta, regressionsanalys, greater fool theory, korrelation
National Category
Economics
Identifiers
URN: urn:nbn:se:hv:diva-12679Local ID: NAX500OAI: oai:DiVA.org:hv-12679DiVA, id: diva2:1230980
Subject / course
Nationalekonomi
Educational program
Mäklarekonom
Supervisors
Examiners
Available from: 2018-07-05 Created: 2018-07-05 Last updated: 2018-07-05Bibliographically approved

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