Styrräntans olika effekt på bostadsmarknaden - En komparativ studie om hur bostadspriserna påverkas olika av ränteförändringar i stora och små städer.

Abstract

This quantitative study aims to investigate whether there is a difference in the effect of the policy rate on the price per square meter for condominiums between small and large cities in Sweden. The study encompasses a total of seven Swedish municipalities, of which three located in large cities and four in small cities. Data regarding housing sales and additional variables have been collected for all municipalities, and the price per square meter is the dependent variable in the regressions performed on the dataset, which constitutes the empirical basis of the study. The aim is further to contribute to an increased understanding of how the effect of the policy rate might differ between Swedish cities and why. The results of the study show significant differences in how the policy rate affects the price per square meter in a small city compared to a large city, with the effect being greater in the latter. Furthermore, this difference can be explained through the strain index created and used in this study, and it is concluded that complementary monetary and/or fiscal policy measures might be worth considering if an even effect across the entire country is desired.