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Lind, H. & Nordlund, B. (2019). The concept of market value in thin markets and its implications for international accounting rules (IFRS). Journal of Property Investment & Finance, 37(3), 301-310
Open this publication in new window or tab >>The concept of market value in thin markets and its implications for international accounting rules (IFRS)
2019 (English)In: Journal of Property Investment & Finance, ISSN 1463-578X, E-ISSN 1470-2002, Vol. 37, no 3, p. 301-310Article in journal (Refereed) Published
Abstract [en]

Purpose The purpose of this paper is to discuss how the concepts market value (MV) and exit price should be interpreted in thin markets and how accounting rules may need to change to take this into account. Design/methodology/approach This is a conceptual paper using hypothetical examples as a base for the conclusions. Findings In a thin market, actors can have rather different reservation prices. The price will then be set through bargaining and the agreed price could be considerable above the reservation price of the actor with the second highest reservation price. The exit price should then be below what the MV was before the transaction and below the entry price, and according to the current accounting rules, the value in the balance sheet should then be below the price paid. The authors' experience is, however, that this rarely happens in practice. Originality/value As far as the authors know, this is the first paper that looks at problems in the current value concepts related to differences in reservation prices in thin markets.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2019
Keywords
Accounting, IFRS, Property valuation, Market value, Fair value, Thin markets
National Category
Business Administration
Identifiers
urn:nbn:se:kth:diva-249858 (URN)10.1108/JPIF-02-2019-0022 (DOI)000462759500005 ()2-s2.0-85063326623 (Scopus ID)
Note

QC 20190426

Available from: 2019-04-26 Created: 2019-04-26 Last updated: 2019-04-26Bibliographically approved
Bellman, L. & Lind, H. (2019). Valuation standards and methods: are Sweden's (still) different?. Journal of European Real Estate Research, 12(1), 79-96
Open this publication in new window or tab >>Valuation standards and methods: are Sweden's (still) different?
2019 (English)In: Journal of European Real Estate Research, ISSN 1753-9269, E-ISSN 1753-9277, Vol. 12, no 1, p. 79-96Article in journal (Refereed) Published
Abstract [en]

Purpose The purpose of this study is to describe and analyse the methods and standards of valuation used by Swedish professional property valuers when appraising commercial properties and factors affecting those standards. The study builds on a 2002 comparative study of valuers in four European countries by McParland et al. (2002), but focuses specifically on property valuers in Sweden. Design/methodology/approach In 2010-2011, a questionnaire was used in face-to-face interviews with about half of the authorised property valuers in Sweden. Another questionnaire was emailed to all authorised property valuers in Sweden 2015 and again about half participated. Findings Analysis of the results shows some new trends in used and preferred standards and methods. Although Swedish valuers still rely mainly on local guidelines, they now increasingly use international standards and company guidelines, which may indicate a growing, if indirect, form of internationalisation. Swedish valuers still use discounted cash flow as their primary method, but their use of comparative methods has increased. Originality/value The data in this comparative study of valuation standards and methods over time used were collected from a specific group of property valuers authorised through the professional Swedish organisation Samhallsbyggarna (Swedish Professionals for the Built Environment), which contributes to an insight in the presiding of the harmonisation of valuation methods and standards.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2019
Keywords
Sweden, Valuation methods, Commercial properties, Authorized property valuers, Transparent market, Valuation standards
National Category
Economics and Business
Identifiers
urn:nbn:se:kth:diva-251701 (URN)10.1108/JERER-04-2018-0020 (DOI)000466746600004 ()2-s2.0-85058163874 (Scopus ID)
Note

QC 20190520

Available from: 2019-05-20 Created: 2019-05-20 Last updated: 2019-05-28Bibliographically approved
Ahmadi, Z. & Lind, H. (2018). Sustainable strategies in a declining housing market: a comparative study. Paper presented at 2018-09-06T10:11:41.558+02:00. International Journal of Management Practice, 11(4), 400-421
Open this publication in new window or tab >>Sustainable strategies in a declining housing market: a comparative study
2018 (English)In: International Journal of Management Practice, ISSN 1477-9064, E-ISSN 1741-8143, Vol. 11, no 4, p. 400-421Article in journal (Refereed) Published
Abstract [en]

The purpose of this study is first to examine and compare sustainable strategies within public and private housing companies in declining markets in central Sweden. Then, the study evaluates the impact of new legislation that requires public housing companies to act in a ‘businesslike’ way, in the same way as a long-term private company. A quantitative study was conducted based on a survey sent to 72 housing companies. The results show that public housing companies are more strategy oriented than private housing companies. The results can be viewed as an on-going interaction process, where a company’s strategies affect its profit. The study aims toincrease the understanding of activities within housing companies in adeclining market that engage the companies in sustainable strategies to improve their market knowledge and profit.

Keywords
sustainable strategy; declining market; construction; renovation; demolition; social corporate responsibility., Business Administration, Företagsekonomi
National Category
Business Administration
Identifiers
urn:nbn:se:kth:diva-235483 (URN)
Conference
2018-09-06T10:11:41.558+02:00
Note

QC 20180926

Available from: 2018-09-26 Created: 2018-09-26 Last updated: 2018-09-26Bibliographically approved
Björk, F., Lind, H., Kling, R. & Larsson, K.-E. (2018). Vattenskador på bostäder – omfattning och kostnader: Slutrapport av ett uppdrag från Boverket. Stockholm: Kungliga Tekniska högskolan
Open this publication in new window or tab >>Vattenskador på bostäder – omfattning och kostnader: Slutrapport av ett uppdrag från Boverket
2018 (Swedish)Report (Other (popular science, discussion, etc.))
Abstract [sv]

Vattenskadorna kostar försäkringsbolag och fastighetsägare stora belopp varje år. I runda tal sker det varje år vattenskador i en lägenhet av 150 och varje skada kostar i snitt något över 100 000 kr.

Bland företag med mer än 10 000 lägenheter anser 40% att det är ett stort problem. De mindre företagen bedömer inte att problemen är så stora, vilket kan hänga ihop med att de har bättre kontroll på sina fastigheter.

Problem finns i alla delar av byggnaden där det finns vatten: badrum, kök, tvättstuga etc.

Vissa småhusfabrikanter säljer enbart huset och ser VVS- och våtrumsfrågorna som entreprenörernas ansvar. Samordningen blir då lidande och man arbetar inte lika systematiskt som andra med att dra lärdomar och förebygga skador. Det kan sägas att den samordning som kan krävas mellan grundentreprenörer, byggentreprenörer och VVS-entreprenörer vid byggandet av ett småhus är ganska komplicerat. Även om många byggare aktivt arbetar med att förebygga skador, så kan informationsåterföring och koppling mellan drift och byggande förbättras.

Många av vattenskaderiskerna handlar om detaljlösningar av tätskiktsutförande och utformning av VVS-installationer. Projekteringen kräver kunskaper om dessa lösningar. Här skulle kanske mer utbildning och information i dessa frågor kunna ge bättre lösningar. Vid byggandet finns det inte sällan flera led av underentreprenörer vilket gör att byggherren kan tappa kontrollen över kompetens, engagemang och yrkesskicklighet hos de som verkligen utför våtrum med tätskikt och VVS-installationer. Kanske skulle arbetet med elinstallationer kunna vara ett mönster, med tydliga formella krav på de som utför dessa arbeten.

Det finns vissa konstruktioner som pekas ut som särskilt riskfyllda, t ex golvbrunnar och särskilt golvbrunnar i hörn och golvrännor. Problem finns även med våtrum utan tröskel eller då trösklar är för låga eller inte tillräckligt täta. Ett problem är att många bostadsrättsköpare av estetiska skäl vill ha inbyggda rör utan att kanske förstå de risker som det innebär.

En intressant utveckling är att olika former av sensorer kan installeras för att upptäcka läckor tidigt och kopplas till vattenfelsbrytare som kan stänga av vattnet.

Under förvaltningsskedet bör regelbundna inspektioner göras för att tidigt hitta fel. Här kan enskilda småhusägare och bostadsrättsföreningen behöva hjälp av försäkringsbolag som vet var fel brukar uppstå, t ex att korrosionsskador är relativt vanliga. Kanske särskilt i bostadsrättsföreningar kan sådana inspektioner vara viktiga eftersom den enskilda bostadsrättshavaren inte alltid vet vad denne får och inte får göra.

Försäkringsbolagen kan även ställa högre krav på att bostadsrättsföreningar har genomarbetade underhållsplaner med förebyggande underhåll på centrala komponenter som kan leda till vattenskador och att underhållsplanerna följs upp. Man kan också kräva att renovering utförs i ”rätt” ordning. Genom att genomföra stambyte innan ytskikt i våtrum renoveras finns en del att spara och det kan ge ett mer vattensäkert resultat.

När det gäller flerfamiljshus kan branschorganisationerna vara mer aktiva med att samla och sammanställa information som kan leda till att de enskilda fastighetsägarna blir mer vaksamma och vet vad de särskilt ska hålla koll på. Det finns skäl att motivera flerbostadshusförvaltare att registrera och systematisera fakta om vattenskador. Detta skulle medföra bättre kunskaper om vattenskaderisker och vara till hjälp för framtida utformning av krav och rekommendationer. Det skulle också kunna ingå i utbildning för arkitekter, ingenjörer och fastighetstekniker.

Place, publisher, year, edition, pages
Stockholm: Kungliga Tekniska högskolan, 2018
Series
TRITA-ABE-RPT ; 1844
Keywords
vattenskador, omfattning orsaker, Sverige
National Category
Building Technologies
Research subject
Civil and Architectural Engineering
Identifiers
urn:nbn:se:kth:diva-256458 (URN)978-91-7873-294-4 (ISBN)
Funder
National Board of Housing, Building and Planning
Note

QC 20190903

Available from: 2019-08-27 Created: 2019-08-27 Last updated: 2019-09-03Bibliographically approved
Bellman, L., Lind, H. & Öhman, P. (2016). How does education from a high-status university affect professional property appraisers' valuation judgments?. Journal of Real Estate Practice and Education, 19(2), 99-124
Open this publication in new window or tab >>How does education from a high-status university affect professional property appraisers' valuation judgments?
2016 (English)In: Journal of Real Estate Practice and Education, ISSN 1521-4842, Vol. 19, no 2, p. 99-124Article in journal (Refereed) Published
Abstract [en]

The repertory grid technique is used to investigate professional property appraisers' thought patterns, and these patterns' complexity, with respect to the universities from which the appraisers graduated. Nearly half of Sweden's 138 authorized property appraisers participated in the study. The results indicate that the appraisers graduating from the university with the longest tradition of property education and ranked highest among the universities offering such education in Sweden have less complex thought patterns than do those graduating from other Swedish universities. This indicates that appraisers graduating from the highest ranked university simplify their valuation judgments more than do other appraisers.

Place, publisher, year, edition, pages
American Real Estate Society, 2016
National Category
Educational Sciences
Identifiers
urn:nbn:se:kth:diva-216867 (URN)2-s2.0-85018212968 (Scopus ID)
Note

Export Date: 24 October 2017; Article; Correspondence Address: Bellman, L.; Mid Sweden UniversitySweden; email: lina.bellman@miun.se. QC 20171113

Available from: 2017-11-13 Created: 2017-11-13 Last updated: 2017-11-13Bibliographically approved
af Klintberg, T. & Lind, H. (2016). Krav på tillgänglighetsanpassning vid renovering: Ett diskussionsinlägg. KTH Royal Institute of Technology
Open this publication in new window or tab >>Krav på tillgänglighetsanpassning vid renovering: Ett diskussionsinlägg
2016 (Swedish)Report (Other (popular science, discussion, etc.))
Place, publisher, year, edition, pages
KTH Royal Institute of Technology, 2016. p. 14
Series
TRITA-FOB ; 2016:3
National Category
Civil Engineering
Identifiers
urn:nbn:se:kth:diva-182210 (URN)978-91-85783-64-9 (ISBN)
Funder
Swedish Research Council Formas
Note

QC 20160229

Available from: 2016-02-18 Created: 2016-02-18 Last updated: 2016-02-29Bibliographically approved
Lind, H. (2016). Lånevillkor för samfällighetsföreningar. KTH Royal Institute of Technology
Open this publication in new window or tab >>Lånevillkor för samfällighetsföreningar
2016 (Swedish)Report (Other academic)
Place, publisher, year, edition, pages
KTH Royal Institute of Technology, 2016. p. 12
Series
TRITA-FOB ; 2016:1
National Category
Economics and Business
Research subject
Real Estate and Construction Management
Identifiers
urn:nbn:se:kth:diva-181901 (URN)978-91-85783-59-5 (ISBN)
Note

QC 20160212

Available from: 2016-02-08 Created: 2016-02-08 Last updated: 2016-02-12Bibliographically approved
Lind, H., Annadotter, K., Björk, F., Högberg, L. & Af Klintberg, T. (2016). Sustainable Renovation Strategy in the Swedish Million Homes Programme: A Case Study. Sustainability, 8(4), Article ID 388.
Open this publication in new window or tab >>Sustainable Renovation Strategy in the Swedish Million Homes Programme: A Case Study
Show others...
2016 (English)In: Sustainability, ISSN 2071-1050, E-ISSN 2071-1050, Vol. 8, no 4, article id 388Article in journal (Refereed) Published
Abstract [en]

Sweden has a large multifamily housing stock that was built between 1960 and 1975. An important current issue is how this stock can be renovated in a sustainable way. The article analyses a strategy used by a suburban municipal housing company that had clear social ambitions and offered the tenants three options of renovation: Mini, Midi and Maxi. Most tenants chose the Mini alternative which meant that they could afford to stay and that there was no increase in costs for the social authorities. An investment analysis showed that the Mini alternative had a positive net present value, but that the Midi and Maxi alternatives were more profitable. Even though there was no clear environmental focus in the renovation, energy use was reduced by 8%. As a conclusion, the study shows that a sustainable renovation is possible but that there are a number of conflicts between the different dimensions of sustainability.

Place, publisher, year, edition, pages
MDPI AG, 2016
Keywords
affordability, housing renovation, sustainable renovation, million homes programme, Sweden
National Category
Environmental Management Economics and Business
Identifiers
urn:nbn:se:kth:diva-187835 (URN)10.3390/su8040388 (DOI)000375155800098 ()2-s2.0-84965120309 (Scopus ID)
Funder
Swedish Research Council Formas
Note

QC 20160530

Available from: 2016-05-30 Created: 2016-05-30 Last updated: 2017-11-30Bibliographically approved
Lind, H. (2016). Uppdelningen mellan markkostnad och byggnadskostnad: En felkälla i Byggnadsprisindex?. KTH Royal Institute of Technology
Open this publication in new window or tab >>Uppdelningen mellan markkostnad och byggnadskostnad: En felkälla i Byggnadsprisindex?
2016 (Swedish)Report (Other academic)
Place, publisher, year, edition, pages
KTH Royal Institute of Technology, 2016. p. 12
Series
TRITA-FOB ; 2016:2
National Category
Economics and Business
Research subject
Real Estate and Construction Management
Identifiers
urn:nbn:se:kth:diva-181902 (URN)978-91-85783-60-1 (ISBN)
Note

QC 20160212

Available from: 2016-02-08 Created: 2016-02-08 Last updated: 2016-02-12Bibliographically approved
Anund Vogel, J., Lind, H. & Lundqvist, P. (2016). Who is Governing the Commons: Studying Swedish Housing Cooperatives. Housing, Theory and Society
Open this publication in new window or tab >>Who is Governing the Commons: Studying Swedish Housing Cooperatives
2016 (English)In: Housing, Theory and Society, ISSN 1403-6096, E-ISSN 1651-2278Article in journal (Refereed) Epub ahead of print
Abstract [en]

This study examines current governance structures related to multifamily buildings designed by single actors (developers) and operated in cooperative forms. The study analyses the long-term sustainability of the resource regime of study (multifamily buildings) and inked governance structures by applying Ostrom’s eight design principles for long-term survival of self-organized resource regimes (Common-pool resources or CPR’s). The study also searches for signs of movement towards social innovation and collective action in current governance structures. We argue that the structures governing planning, production and operation of housing cooperatives in Sweden do not fulfil the eight design principles for the long-term survival of the resource regime of study, nor do they encourage movement towards social innovation or collective action. In order to ensure the long-term survival of the resource regime of study and to increase innovation in governance structures, five adjustments are proposed; changes in the structures governing risk/profit distribution, communication, collaboration and information between actors in the Swedish cooperative housing sector.

Place, publisher, year, edition, pages
Taylor & Francis, 2016
Keywords
Housing cooperatives, Common-pool resources, Planning, Multifamily buildings, Sweden
National Category
Law and Society
Identifiers
urn:nbn:se:kth:diva-187894 (URN)10.1080/14036096.2016.1186730 (DOI)000383173100003 ()2-s2.0-84983249298 (Scopus ID)
Note

QCR 20160601

Available from: 2016-05-31 Created: 2016-05-31 Last updated: 2019-02-07Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0003-4841-5056

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