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Who owns the city, and why should we care?

Author

Listed:
  • Ismail, Mohammad

    (Department of Real Estate and Construction Management, Royal Institute of Technology)

  • Warsame, Abukar

    (Department of Real Estate and Construction Management, Royal Institute of Technology)

  • Wilhelmsson, Mats

    (Department of Real Estate and Construction Management, Royal Institute of Technology)

Abstract

Who owns the city, and why is it important to know? The city constantly makes decisions that affect municipal residents regarding municipal services, land use, and financing. The cost is often linked directly to the municipal residents, but the benefits of some decisions directly affect the property owners and only indirectly affect the municipal residents. On the other hand, the property owners can be residents in the city or the country, but they can also be foreign property owners. Therefore, the distribution of costs will differ from the distribution of benefits. The study aims to investigate and analyse real estate owners in some focus areas in Stockholm municipality in terms of nationality, patterns of real estate usage, area of properties, and the nature of ownership. We determined the concentration of real estate owners by nationality in the different focus areas by Using Getis-Ord statistics Gi* measuring the concentration of Swedish and non-Swedish real estate owners.

Suggested Citation

  • Ismail, Mohammad & Warsame, Abukar & Wilhelmsson, Mats, 2022. "Who owns the city, and why should we care?," Working Paper Series 22/1, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    • Handle: RePEc:hhs:kthrec:2022_001
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    References listed on IDEAS

    as
    1. John B. Loomis, 2013. "Incorporating distributional issues into benefit–cost analysis: why, how, and two empirical examples using non-market valuation," Chapters, in: Scott O. Farrow & Richard Zerbe, Jr. (ed.), Principles and Standards for Benefit–Cost Analysis, chapter 9, pages 294-316, Edward Elgar Publishing.
    2. Udo Ebert, 1986. "Equity and distribution in cost-benefit analysis," Journal of Economics, Springer, vol. 5(1), pages 67-78, December.
    3. Colin Lizieri & Andrew Baum & Peter Scott, 2000. "Ownership, Occupation and Risk: A View of the City of London Office Market," Urban Studies, Urban Studies Journal Limited, vol. 37(7), pages 1109-1129, June.
    4. Paul C. Cheshire & Max Nathan & Henry G. Overman, 2014. "Urban Economics and Urban Policy," Books, Edward Elgar Publishing, number 15105.
    5. Loomis, John B., 2011. "Incorporating Distributional Issues into Benefit Cost Analysis: Why, How, and Two Empirical Examples Using Non-market Valuation," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 2(1), pages 1-24, January.
    6. Helen Scarborough & Jeff Bennett, 2012. "Cost–Benefit Analysis and Distributional Preferences," Books, Edward Elgar Publishing, number 14376.
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    8. Laurie S. Goodman & Christopher Mayer, 2018. "Homeownership and the American Dream," Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 31-58, Winter.
    9. Ismail, Mohammad & Warsame, Abukar & Wilhelmsson, Mats, 2020. "Do segregated housing markets have a spillover effect on housing prices in nearby residential areas?," Working Paper Series 20/6, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    10. R. Joseph Monsen, 1961. "Who Owns the City?: Data and Implications from San Francisco Experience," Land Economics, University of Wisconsin Press, vol. 37(2), pages 174-178.
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    Keywords

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    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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