Paolo Sodini, Stockholm School of Economics

As part of the ser­ies of the "Fin­ance Re­search Sem­inar", VGSF wel­comes Paolo Sodini from Stock­holm School of Eco­nom­ics to present his re­search pa­per.
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Pa­per

Why Wo­men Earn Lower Real Estate Re­turns

Us­ing re­peat-­sales data on apart­ments in Sweden, we es­tim­ate the gender gap in hous­ing re­turns. We con­firm that single wo­men’s re­turns gross of renov­a­tions are lower than single men’s by more than 2pp, that half of this gap is due to mar­ket tim­ing, and that it is con­cen­trated in short hold­ing period. Ad­ding ad­min­is­trat­ive data on renov­a­tion ex­penses and traders’ back­ground, we find that wo­men are much less likely to un­der­take renov­a­tions and to spe­cial­ize in real estate pro­fes­sional activ­it­ies. Once these dif­fer­ences are ac­coun­ted for, we do not find any gender gap in real estate re­turns.