Vacation homes and regional economic development

Nicholas Sheard

Regional Studies, 2019, vol. 53, issue 12, 1696-1709

Abstract: This paper studies the relationship between vacation homes and regional development. Vacation homes are often in peripheral regions with relatively low standards of living. Seasonal residents contribute income to these areas but make local housing costlier and may have negative effects on local housing, labour, and product markets. The paper introduces a model that demonstrates how demand for housing from seasonal residents affects the welfare of local residents. It then studies the effects of a Norwegian policy that obliges homeowners in certain municipalities to reside on their properties. The policy is shown to increase local population, employment, wages and house prices.

Date: 2019
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Journal Article: Vacation homes and regional economic development (2020)
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DOI: 10.1080/00343404.2019.1605440

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