Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/29095 |
Resumo: | This research, aims to assess the impact of home-sharing platforms and short-term rental markets on Lisbon’s housing market. The main question is if Airbnb listings impact house prices. Furthermore, if the impact on house prices differs with the type of Airbnb listings. The high demand for short-term rentals can lead homeowners to switch from supplying the long-term market to suppling the home-sharing market in response to increased demand, thus increasing house prices. Using data for Airbnb listings and data on the price per square meter of sales for the 24 neighborhoods that compose the city of Lisbon, I estimate a fixed effect model at the neighborhood level. The overall results of the investigation suggest that Airbnb presence affects local house prices. Specifically, I find that a 1% increase in Airbnb entire home listings increases house prices by 0,043%, controlling for time fixed effects and differential price trends across neighborhoods. This result is also consistent with the hypothesis that entire home listings may have a bigger impact on house prices than room listings. |
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Effects of short-term rental markets on Lisbon´s housing market : the case of AirbnbPeer-to-peer marketsSharing economyHousing marketsAirbnbMercados peer-to-peer,Economia partilhadaMercado imobiliárioDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis research, aims to assess the impact of home-sharing platforms and short-term rental markets on Lisbon’s housing market. The main question is if Airbnb listings impact house prices. Furthermore, if the impact on house prices differs with the type of Airbnb listings. The high demand for short-term rentals can lead homeowners to switch from supplying the long-term market to suppling the home-sharing market in response to increased demand, thus increasing house prices. Using data for Airbnb listings and data on the price per square meter of sales for the 24 neighborhoods that compose the city of Lisbon, I estimate a fixed effect model at the neighborhood level. The overall results of the investigation suggest that Airbnb presence affects local house prices. Specifically, I find that a 1% increase in Airbnb entire home listings increases house prices by 0,043%, controlling for time fixed effects and differential price trends across neighborhoods. This result is also consistent with the hypothesis that entire home listings may have a bigger impact on house prices than room listings.A presente investigação tem como objetivo avaliar o impacto das plataformas de partilha de alojamento e dos mercados de arendamento de curto-prazo no mercado imobiliário de Lisboa. A principal questão que se coloca é se os anúncios do Airbnb afetam os preços das casas. Além disso, se o impacto nos preços das casas diferem com o tipo de anúncio do Airbnb. A procura de alojamentos de curto-prazo pode levar proprietários a deixar de oferecer propriedades no mercado de longo-prazo para oferecerem no mercado de partilha de alojamento em resposta ao aumento da procura, aumentando os preços das habitações. Usando dados para os anúncios do Airbnb e para o preço por metro quadrado de vendas para os 24 bairros que compõem a cidade de Lisboa, eu estimo um modelo de efeitos fixos ao nível de bairro. Os resultados gerais da investigação sugerem que a presença de Airbnb influencia os preços das casa. Especificamente, um aumento de 1% nos anúncios de espaços inteiros aumenta o preço das casas 0,043%, controlando para efeitos fixos temporais e diferenças em tendência de preços nos vários bairros. Este resultado é também consistente com a hipótese de que anúncios de espaços inteiros possam ter um impacto maior nos preços das residências.Reis, Catarina Luis Monteiro dosVeritati - Repositório Institucional da Universidade Católica PortuguesaSantos, Catarina de Costa Lourenço e Ávila dos2020-01-07T08:57:15Z2019-10-092019-10-09T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/29095TID:202301273enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:34:37Zoai:repositorio.ucp.pt:10400.14/29095Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:23:22.339399Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
title |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
spellingShingle |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb Santos, Catarina de Costa Lourenço e Ávila dos Peer-to-peer markets Sharing economy Housing markets Airbnb Mercados peer-to-peer, Economia partilhada Mercado imobiliário Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
title_full |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
title_fullStr |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
title_full_unstemmed |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
title_sort |
Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb |
author |
Santos, Catarina de Costa Lourenço e Ávila dos |
author_facet |
Santos, Catarina de Costa Lourenço e Ávila dos |
author_role |
author |
dc.contributor.none.fl_str_mv |
Reis, Catarina Luis Monteiro dos Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Santos, Catarina de Costa Lourenço e Ávila dos |
dc.subject.por.fl_str_mv |
Peer-to-peer markets Sharing economy Housing markets Airbnb Mercados peer-to-peer, Economia partilhada Mercado imobiliário Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Peer-to-peer markets Sharing economy Housing markets Airbnb Mercados peer-to-peer, Economia partilhada Mercado imobiliário Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This research, aims to assess the impact of home-sharing platforms and short-term rental markets on Lisbon’s housing market. The main question is if Airbnb listings impact house prices. Furthermore, if the impact on house prices differs with the type of Airbnb listings. The high demand for short-term rentals can lead homeowners to switch from supplying the long-term market to suppling the home-sharing market in response to increased demand, thus increasing house prices. Using data for Airbnb listings and data on the price per square meter of sales for the 24 neighborhoods that compose the city of Lisbon, I estimate a fixed effect model at the neighborhood level. The overall results of the investigation suggest that Airbnb presence affects local house prices. Specifically, I find that a 1% increase in Airbnb entire home listings increases house prices by 0,043%, controlling for time fixed effects and differential price trends across neighborhoods. This result is also consistent with the hypothesis that entire home listings may have a bigger impact on house prices than room listings. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-10-09 2019-10-09T00:00:00Z 2020-01-07T08:57:15Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/29095 TID:202301273 |
url |
http://hdl.handle.net/10400.14/29095 |
identifier_str_mv |
TID:202301273 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131941336776704 |