Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon?
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/121942 |
Resumo: | Using quarterly data on rental and sale prices and quantities between 2018 and2020, as well as on short-term rental registries, this paper uses difference-in-differences to evaluate the short-run impact of the pandemic on Lisbon’s property market in civil parishes differentially exposed to short-term rental density. Results suggest that more “touristic” areas suffered a steeper decrease in rental prices, driven by a reallocation of apartments from the short- to the long-term rental market. We also document a drop in sale prices with no visible impact on quantities for sale. To address endogeneity concerns, we use an instrument based on the density of museums per civil parish, showing that results are unchanged. We further analyze heterogeneous effects based on dwellings’ type. |
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Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon?Covid-19Rental marketShort-term rentalsHousing marketPortugalDomínio/Área Científica::Ciências Sociais::Economia e GestãoUsing quarterly data on rental and sale prices and quantities between 2018 and2020, as well as on short-term rental registries, this paper uses difference-in-differences to evaluate the short-run impact of the pandemic on Lisbon’s property market in civil parishes differentially exposed to short-term rental density. Results suggest that more “touristic” areas suffered a steeper decrease in rental prices, driven by a reallocation of apartments from the short- to the long-term rental market. We also document a drop in sale prices with no visible impact on quantities for sale. To address endogeneity concerns, we use an instrument based on the density of museums per civil parish, showing that results are unchanged. We further analyze heterogeneous effects based on dwellings’ type.Peralta, SusanaSantos, João Pereira dosRUNBatalha, Mafalda Vaz Serra2021-08-01T19:18:00Z2021-01-192021-012021-01-19T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/121942TID:202743233enginfo: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:RCAAP2024-03-11T05:04:00Zoai:run.unl.pt:10362/121942Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:44:45.075077Repositório 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 |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
title |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
spellingShingle |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? Batalha, Mafalda Vaz Serra Covid-19 Rental market Short-term rentals Housing market Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
title_full |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
title_fullStr |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
title_full_unstemmed |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
title_sort |
Lessons from the pandemic: are short-term rentals driving rental prices in Lisbon? |
author |
Batalha, Mafalda Vaz Serra |
author_facet |
Batalha, Mafalda Vaz Serra |
author_role |
author |
dc.contributor.none.fl_str_mv |
Peralta, Susana Santos, João Pereira dos RUN |
dc.contributor.author.fl_str_mv |
Batalha, Mafalda Vaz Serra |
dc.subject.por.fl_str_mv |
Covid-19 Rental market Short-term rentals Housing market Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Covid-19 Rental market Short-term rentals Housing market Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Using quarterly data on rental and sale prices and quantities between 2018 and2020, as well as on short-term rental registries, this paper uses difference-in-differences to evaluate the short-run impact of the pandemic on Lisbon’s property market in civil parishes differentially exposed to short-term rental density. Results suggest that more “touristic” areas suffered a steeper decrease in rental prices, driven by a reallocation of apartments from the short- to the long-term rental market. We also document a drop in sale prices with no visible impact on quantities for sale. To address endogeneity concerns, we use an instrument based on the density of museums per civil parish, showing that results are unchanged. We further analyze heterogeneous effects based on dwellings’ type. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-08-01T19:18:00Z 2021-01-19 2021-01 2021-01-19T00:00:00Z |
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/10362/121942 TID:202743233 |
url |
http://hdl.handle.net/10362/121942 |
identifier_str_mv |
TID:202743233 |
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 |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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