Scandinavian Working Papers in Economics

Discussion Papers on Economics,
University of Southern Denmark, Department of Economics

No 1/2014: Owning, letting and demanding second homes

Gintautas Bloze () and Morten Skak ()
Additional contact information
Gintautas Bloze: Department of Leadership and Corporate Strategy, Postal: University of Southern Denmark, Sdr. Stationsvej 28, DK-4200 Slagelse, Denmark
Morten Skak: Department of Business and Economics, Postal: University of Southern Denmark, Campusvej 55, DK-5230 Odense M, Denmark

Abstract: An increasing number of households consume housing beyond the primary home as owners of a second home. Economic studies of second homeownership are still very scarce, and the present empirical study fills this gap to some extent. It is based on Danish survey data combined with administrative register data and presents estimations of the probability of owning a second home, the decision to let the second home and the number of let weeks per year. Also income elasticities for primary and second housing demand are estimated. We find a conventional monotonic increase in demand elasticities for primary housing demand for non-owners of second homes; however, owners of second homes have the highest income elasticity in the middle income group.

Keywords: Second home; Homeownership; Letting; Income elasticity; Denmark

JEL-codes: D71; D85; R20; Z13

31 pages, January 14, 2014

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