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Internal rents and the ownership of state properties: experiences from Sweden
KTH, School of Architecture and the Built Environment (ABE).
2011 (English)In: Journal of Corporate Real Estate, ISSN 1463-001X, E-ISSN 1479-1048, Vol. 13, no 1, p. 64-76Article in journal (Refereed) Published
Abstract [en]

Purpose – The purpose of this paper is to show that general‐ and special‐purpose properties have to be dealt with differently by the public sector.Design/methodology/approach – Application of standard economic theory concerning pricing of properties and infrastructure. The issues are analyzed based on experiences from Swedish state‐owned properties.Findings – The distinction results in quite different public property management strategies. Special‐purpose properties have no short‐run alternative use and have limited rental and capital values, unlike general‐purpose properties. Thus, to apply a required rate of return based on assumed capital values universally will lead to inefficient use. For special‐purpose properties, short‐run marginal costs (SRMCs) should be charged – no more.Practical implications – General properties owned by the state represent a suitable case for privatization. For special‐purpose properties, only SRMCs should be charged.Originality/value – The paper makes a distinction between two kinds of state‐owned properties; general‐ and special‐purpose properties, and analyzes the important consequences in property management.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2011. Vol. 13, no 1, p. 64-76
Keywords [en]
Costs, Property management, Public administration, Rate of return, Rents, Sweden
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-202040DOI: 10.1108/14630011111120350Scopus ID: 2-s2.0-84993083631OAI: oai:DiVA.org:kth-202040DiVA, id: diva2:1076583
Note

QC 20170223

Available from: 2017-02-23 Created: 2017-02-23 Last updated: 2017-11-29Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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  • vancouver
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More styles
Language
  • de-DE
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  • en-US
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  • nn-NB
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  • Other locale
More languages
Output format
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  • asciidoc
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