The impact of Airbnb on residential property values and rents

Detalhes bibliográficos
Autor(a) principal: Franco, Sofia F.
Data de Publicação: 2021
Outros Autores: Santos, Carlos Daniel
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/114699
Resumo: This article quantifies the impact of Airbnb's short-term rentals on housing affordability in Portugal. We find that on average a 1pp increase in a municipality Airbnb share results in a 3.7% increase in house prices. When zooming our analysis to the main cities of Lisbon and Porto, we find that a 1pp increase in a civil parish Airbnb share leads to a 3.2% price increase. Finally, exploring the spatial heterogeneity of the impact of Airbnb within the two cities we find strong effects localized in the historical centers and areas attractive to tourists. Compared to a low touristy parish, house prices in a high touristy parish increased by 24.3% in 2015 and 32.3% in the 1st quarter of 2016, relatively to pre-Airbnb expansion period (pre-2014Q2).
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spelling The impact of Airbnb on residential property values and rentsevidence from PortugalAirbnbProperty valuesRegulationShort-term rentalsEconomics and EconometricsUrban StudiesSDG 11 - Sustainable Cities and CommunitiesThis article quantifies the impact of Airbnb's short-term rentals on housing affordability in Portugal. We find that on average a 1pp increase in a municipality Airbnb share results in a 3.7% increase in house prices. When zooming our analysis to the main cities of Lisbon and Porto, we find that a 1pp increase in a civil parish Airbnb share leads to a 3.2% price increase. Finally, exploring the spatial heterogeneity of the impact of Airbnb within the two cities we find strong effects localized in the historical centers and areas attractive to tourists. Compared to a low touristy parish, house prices in a high touristy parish increased by 24.3% in 2015 and 32.3% in the 1st quarter of 2016, relatively to pre-Airbnb expansion period (pre-2014Q2).NOVA School of Business and Economics (NOVA SBE)RUNFranco, Sofia F.Santos, Carlos Daniel2023-03-19T01:32:02Z2021-052021-05-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/114699eng0166-0462PURE: 28938497https://doi.org/10.1016/j.regsciurbeco.2021.103667info: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:RCAAP2024-03-11T04:57:29Zoai:run.unl.pt:10362/114699Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:42:36.961946Repositório 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 The impact of Airbnb on residential property values and rents
evidence from Portugal
title The impact of Airbnb on residential property values and rents
spellingShingle The impact of Airbnb on residential property values and rents
Franco, Sofia F.
Airbnb
Property values
Regulation
Short-term rentals
Economics and Econometrics
Urban Studies
SDG 11 - Sustainable Cities and Communities
title_short The impact of Airbnb on residential property values and rents
title_full The impact of Airbnb on residential property values and rents
title_fullStr The impact of Airbnb on residential property values and rents
title_full_unstemmed The impact of Airbnb on residential property values and rents
title_sort The impact of Airbnb on residential property values and rents
author Franco, Sofia F.
author_facet Franco, Sofia F.
Santos, Carlos Daniel
author_role author
author2 Santos, Carlos Daniel
author2_role author
dc.contributor.none.fl_str_mv NOVA School of Business and Economics (NOVA SBE)
RUN
dc.contributor.author.fl_str_mv Franco, Sofia F.
Santos, Carlos Daniel
dc.subject.por.fl_str_mv Airbnb
Property values
Regulation
Short-term rentals
Economics and Econometrics
Urban Studies
SDG 11 - Sustainable Cities and Communities
topic Airbnb
Property values
Regulation
Short-term rentals
Economics and Econometrics
Urban Studies
SDG 11 - Sustainable Cities and Communities
description This article quantifies the impact of Airbnb's short-term rentals on housing affordability in Portugal. We find that on average a 1pp increase in a municipality Airbnb share results in a 3.7% increase in house prices. When zooming our analysis to the main cities of Lisbon and Porto, we find that a 1pp increase in a civil parish Airbnb share leads to a 3.2% price increase. Finally, exploring the spatial heterogeneity of the impact of Airbnb within the two cities we find strong effects localized in the historical centers and areas attractive to tourists. Compared to a low touristy parish, house prices in a high touristy parish increased by 24.3% in 2015 and 32.3% in the 1st quarter of 2016, relatively to pre-Airbnb expansion period (pre-2014Q2).
publishDate 2021
dc.date.none.fl_str_mv 2021-05
2021-05-01T00:00:00Z
2023-03-19T01:32:02Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/114699
url http://hdl.handle.net/10362/114699
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0166-0462
PURE: 28938497
https://doi.org/10.1016/j.regsciurbeco.2021.103667
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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