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This paper aims to test two hypotheses related to the supposedly negative impact of rent control on residential mobility: the mobility of renters is, first, negatively related to how attractive their residential areas are and, second, relatively high for renters living in properties built after 2005.

This paper estimates logit and multinomial logit regressions and models household moves. The multinomial logit regressions separate between short- and long-distance moves and between moves to rentals and to owned dwellings. This paper uses the “relative income” of the tenants’ residential areas to proxy area attractiveness. This paper estimates regressions for entire Sweden and the three largest “commuting” regions and municipalities, respectively.

The full sample provides support of both hypotheses in all regressions. Hypothesis one gets stronger support for moves to other rentals than moves to owned dwellings but about equally strong support for short- and long-distance moves. Hypothesis one obtains strongest support in Gothenburg municipality while hypothesis two obtains strongest support in the Malmö region. Also, hypothesis two obtains stronger support for short-distance moves than long-distance moves and slightly stronger support for moves to owned dwellings than those to rented dwellings.

This paper does not estimate “how much” rent control affects mobility, and results cannot be used to design specific rent setting policies. Results may be sensitive to how different types of moves are defined.

Efforts to reform rent setting policies in Sweden are encouraged.

To the best of the author’s knowledge, this paper’s two hypotheses are not tested before in Sweden and can be tested without control groups.

This paper is concerned with behavioural responses to reviewed ground rents in New Zealand. The focus is on how freehold growth information is interpreted when considering reviewed ground rents on ground leasehold value.

Semi-structured interviews were conducted with ground leaseholders to inform the design of a controlled experiment. The interviews revealed that (a) purchasers tended to directly compare freeholds to ground leaseholds and (b) used rudimentary valuation methods. In the experiment, 40 property investors were requested to estimate the ground leasehold value close to the ground rent review time. Thereafter, 20 of the investors reassessed their ground leasehold value estimate using a projection of the future ground rent and a statement as to freehold growth (treatment). The control group of the remaining 20 investors received the estimate of the future ground rent only.

The tendency for higher treatment group valuations indicated the growth information was too available. Comparing ground leaseholds directly to freeholds, rather than thinking about the cost implications, is attributed to a manifestation of the availability heuristic.

The study involves a typical ground lease arrangement (as verified by experts) in the New Zealand market where there are few protections for ground leaseholders. These findings justify prohibiting new ground leases where the ground rents are set by reference to freehold land value.

This paper extends behavioural theory (availability heuristic) to explaining human interaction with ground leaseholds.

This study examines the impact of outdoor environments in public rental housing complexes on residents’ psychological restoration, taking into account the interconnectedness of physical and psychological factors in human health. Drawing on Kaplan and Kaplan’s Attention Restoration Theory and Ulrich’s Supportive Design Theory, the research investigates the factors influencing residents’ psychological restoration within these outdoor spaces.

The Perceived Restorativeness Scale (PRS), which is based on the Attention Restoration Theory and the Zuckerman Inventory of Personal Reactions (ZIPERS) are used to assess residents’ restorative experiences. Field research was conducted to collect data on the outdoor environments, and surveys were administered to the residents. The study analyzes the data using SPSS, including both factor and correlation analyses, to explore the relationship between the restorative effect and emotional factors.

The study verified a significant influence of positive emotions in ZIPERS on PRS’ overall restorative effect, thus supporting the utilization of both PRS and ZIPERS factors together to assess comprehensively the impact of outdoor environments on residents’ psychological restoration.

By employing a multidimensional approach involving residents’ experiences and emotions, this study quantified emotional and psychological data, which were hard to quantify. These results provide a basis for developing more objective restoration environment design guidelines and programs in the future.

Using data spanning 145 years for Sweden, the authors investigate the benefits of holding multi-family properties for investors who aim to hedge wage growth.

The authors assess the risk-adjusted excess return that results from adding multi-family properties to a mixed-asset portfolio that aims to track wage growth. The authors also analyse the macroeconomic determinants of asset returns. Finally, the authors test whether a causal relationship exists between the growth rate of real wages and that of real net operating income.

The benefits from holding multi-family properties are the greatest for low-risk allocation approaches. For more risky strategies, the role of real estate is more muted, and it varies greatly over time. Holding real estate was most beneficial during the first two decades of the 21st century. Multi-family properties are found to be the only asset class to be positively related to wage growth. The authors show that the net operating income acts as the transmission channel between wages and property returns.

The paper assesses whether the growing interest of pension funds for multi-family properties is warranted in the context of a portfolio that aims to track wage growth.

Using long term data makes it possible to use a rolling windows approach and hence to consider multiple outcomes for an allocation strategy over a typical investment horizon. This permits to assess the dispersion of performance across several periods rather than just one as is commonly done in the literature. The results show that the conclusions that would be drawn from looking at the past two or three decades of data differ substantially from those for earlier time periods.

This study aims to investigate the relationship between market share and rent levels to understand the supply structure in the Japanese private rental housing market.

The study calculates the municipal-level market share of a dominant rental housing operator in Japan and ascertained the overall market rent and the dominant operator’s rent premium at the municipal level by using a major web portal’s listing data of rental houses.

The study shows that, as market share increased, overall market rent tends to decrease, and analyzed by market share, there is no significant difference between the rent of the dominant operator and the overall market rent.

The results of the study suggest that dominant operators may have lowered the rent of their own property to prioritize filling vacancies, which, in turn, causes the overall level of market rent to decline. This is an outcome of rental housing operators’ strategy to maximize long-term rental income under sublease contracts with individual owners, which ensures stable rental income for owners regardless of the occupation status of the apartments.

Previous research on regional monopolies in mortgage sales and brokerage businesses in the USA implies that rental housing operators in a position of great influence over the market can control and keep the market rents at high levels, that is, at large costs for consumers. The findings of the study are novel in showing the inverse relationship in the Japanese private rental market.