Renovations as an investment strategy: circumscribing the right to housing in Sweden

Abstract

There is an emergent field of writings on financialized landlords’ undertaking of apartment renovations as an investment strategy and its effect on housing inequalities. Seldom do these studies contextualize these tendencies within countries’ specific housing policy traditions. Therefore, through a qualitative case study in a neighbourhood in Sweden, this paper aims to uncover how private landlords undertake renovations as an investment strategy and its effect on tenants and, in turn, on the hybrid character of a universal housing system. It finds that renovations enable landlords to extract value from the built environment while tenants experience rising rents, a lack of information, poor property maintenance, and apprehension. Hence, I argue that renovations represent an investment strategy that serves to undermine the traditional social right to housing within a universal housing policy context. The paper thus furthers knowledge on how the situatedness of financialization tendencies entails their translation through and transformation of housing systems.