The invisible hand of an invisible population: Dynamics and heterogeneity of second-home housing markets

Abstract

The effects of second-home tourism on property markets has been one of the key debates in second-home research. This has been discussed in association with property speculation, financial vulnerability, gentrification, displacement, and rural development. This paper studies the market prices for all detached homes traded on the open market in Sweden during 1999–2017. It investigates how the market values of second homes have developed over time and how they vary spatially. Results show clear and growing spatial inequalities over the period. It emphasises the dynamic interplay between different forms of dwelling use and the close relationship to spatial context.