Effects of short-term rental markets on Lisbon´s housing market : the case of Airbnb

Detalhes bibliográficos
Autor(a) principal: Santos, Catarina de Costa Lourenço e Ávila dos
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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spelling 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
repository.mail.fl_str_mv
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