Zusammenfassung:
We use rich microdata from Denmark to study the effects of increased remote working on housing demand and property prices during the pandemic. We find that the rise in remote working exerted upward pressure on housing demand, and consequently, property prices. The analysis shows that people who frequently worked from home were more likely to buy a home during the 2020-21 pandemic. There was also a tendency for younger people who frequently worked from home to buy larger homes than they had before the pandemic. We estimate that the increased tendency to work from home contributed to a rise in property prices by up to around 3-11 percentage points during the pandemic.