Miljonprogrammet som investeringsobjekt

Sammanfattning

The housing shortage remains despite the construction after world war two, criticism grew more and more against the government. During the 1960s the Riksdag decided to solve the housing problem by a long-term program that eliminates the housing shortage with new and cheap housing, the program extended over twenty years. During the 1960s until the 1980s, about one million homes were built, from which came the term “miljonprogrammet”. After 50 years, some houses need to be renovated and energy efficient. The housing shortage is still increasing and the population is growing, which leads to private real estate companies investing in renovating existing houses. This study will investigate how these renovations have affected the economy of the properties and assess the impact on the market value.Questions:- Is rental income affected by renovation? How?- Are operating and maintenance costs affected by renovation? How?- Are yield requirements affected? How?- Is there any other aspect that does not directly affect income and costs in the short term but can do so in the long term? (factors such as security and more)With the help of a literature study that consists of books, information from various real estate companies as well as previous studies and interviews with public utility real estate companies, we will analyze the data and summarize the results we get.Throughout the interviews with all companies, it has turned out that after renovation the utility value increases which enables a higher rent compensation, rent increase varies depending on the property's utility value. Since tenants get more efficient heating and ventilation during renovation, which leads to lower operating and maintenance costs. Heating and planned maintenance abide by 50% of the total operating and maintenance costs, one of the most important factors affecting the cost is energy consumption för heating and hot water preparation. After a completed renovation the direkt yield is reduced, the direkt yield is received when the net operating income is set into relation to the market value of the property.