Pandemins heterogena efterfrågeeffekter på svenska kommuners bostadsmarknader

Sammanfattning

The COVID-19 pandemic uniquely impacted Swedish real estate markets by driving up all property prices in 2020, contrary to historical crisis patterns. The price trends then varied during 2021–2022 between different municipality and property types. The raised demand for larger living areas, access to outdoor spaces and gardens as well as proximity to nature proved beneficial for the housing markets – although condominium prices were also positively affected during this time. These demand shifts largely stemmed from effects caused by the work-from-home adjustments during the pandemic. Difference-in-differences and synthetic difference-in-differences analyses capture a disparity in the pandemic’s effects between property and municipality types. The results show that houses had a more stable positive demand in both larger and smaller cities compared to metropolitan cities, while condominiums received a higher and more stable demand in metropolitan cities. Notably, smaller cities experienced unprecedented price increases for condominiums in 2020, marking the strongest positive demand change nationwide during the first year of the pandemic. Drawing on existing literature, the study examines these varying price trends across municipality and property types. While some statistical limitations and parallel trends issues exist, the research provides valuable insight into the pandemic's impact on Swedish real estate markets.