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Swedish public and private housing companies’ access to the capital market for financing energy renovation
RISE Research Institutes of Sweden, Built Environment, System Transition and Service Innovation.ORCID iD: 0000-0002-5044-6989
RISE Research Institutes of Sweden, Built Environment. Lund University, Sweden.ORCID iD: 0000-0002-3863-0740
2023 (English)In: Journal of Housing and the Built Environment, ISSN 1566-4910, E-ISSN 1573-7772, Vol. 38, p. 673-697Article in journal (Refereed) Published
Abstract [en]

The financing of energy efficiency measures and renovations is key to reaching energy efficiency targets for the housing sector. The purpose of this article is to add the Swedish case of how capital market funds have become accessible and used by public and private housing companies, in particular for energy efficiency measures. The core of this article are interviews with representatives of Swedish housing companies made during the spring of 2021 with the purpose of mapping how public and larger private housing companies finance renovation and energy efficiency measures, and to what extent funds from the capital market are used for these purposes. In this article, we have found that capital market funds are commonly used by the Swedish public and the largest private housing companies. Bonds are less costly compared to bank loans, and green bonds are 0.02–0.03 percentage points less costly than conventional bonds. Furthermore, control systems that investigate the values of building portfolios as security for bonds are poor. A conclusion is that governmental control systems over the capital market issuing bonds for the housing market could be needed to avert future housing bubbles. © 2022, The Author(s).

Place, publisher, year, edition, pages
Springer Science and Business Media B.V. , 2023. Vol. 38, p. 673-697
Keywords [en]
Capital market, Energy efficiency, Financing energy renovation, Housing ownership, Multifamily buildings, Renovation
National Category
Building Technologies
Identifiers
URN: urn:nbn:se:ri:diva-61422DOI: 10.1007/s10901-022-09996-4Scopus ID: 2-s2.0-85142215266OAI: oai:DiVA.org:ri-61422DiVA, id: diva2:1717199
Note

Funding details: Svenska Forskningsrådet Formas, 2017-01546, 2017‐01449; Funding text 1: This work was funded by The Swedish Research Council for Environment, Agricultural Sciences and Spatial Planning (Formas), Grant Numbers 2017‐01449 and 2017-01546, within the project National Building‐Specific Information (NBI).

Available from: 2022-12-07 Created: 2022-12-07 Last updated: 2023-07-06Bibliographically approved

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Mangold, MikaelMjörnell, Kristina

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