Bostadsrättsföreningars tillgångars kapitalisering på bostadsrättspriser

Sammanfattning: In the current situation in the housing market and in particular the inner city much attention is directed towards achieved prices per square meter in sales. The indicator is as a principle an appropriate measure of the housing market’s health and development, and can to some extent be used to make approximations of the general economic health status of municipalities and counties. It occurs occasionally that questions about whether prices are based on fundamentals at all times.The thesis questions that very issue, not from a macro accompanying financial perspective but rather from a microeconomic perspective, where each tenant ownership in the study is a micro-object. Are the observed prices per square meter rational relative to housing cooperative’s assets or is there a lack in the observed prices anchoring the respective association's finances. A result that does not enhance the image that the observed prices are rational in relation to housing cooperative’s assets should be seen as a warning signal that the macro-economic part of the housing market in the area may be subject to irrational pricing, and as a consequence one might argue that the market as a whole is unbalanced. The result is that there are variations in the observed square meter prices and net assets. In most cases, the net asset is not huge, the average is just over 3000 sek per square meter, which means that the market is definitely not completely out of balance. But in this study, an image that reinforces the theory that the market would be rational has not been found. The link between the square meter price and net asset is not linear, in fact there is little to no correlation. The correlation between the fee and net assets, however is stronger, although it is not fully capitalized. The difference is that net assets is a key that shows how strong economy housing cooperative has, and as such it is directly connected to have large fee the cooperative has to charge its members to retain a sustainable economy. It has been shown in previous studies that the fee capitalization on housing prices is not very strong, at least not in Stockholm's inner city, especially Östermalm 1. With that conclusion in mind it is not entirely surprising that the net asset would have even smaller capitalization effect. There are some measures that reasonably ought to change the way the market is acting. Greater financial accountability of developers and estate agents and a better understanding and deeper insight into the economic factors that are directly related to the ownership of the housing cooperative sought. The market is not out of balance, but it would be more rational if the market looked beyond prices per square meters.