Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]

In this paper, we assess the impact of the arrival and expansion of Airbnb on housing rents and prices in the city of Barcelona. Examining highly detailed data on rents and both transaction and posted prices, we use several econometric approaches that exploit the exact timing and geography of Airbnb...

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Detalles Bibliográficos
Autores: García López, Miquel-Àngel, Jofre Monseny, Jordi, Martínez Mazza, Rodrigo, Segú, Mariona
Tipo de recurso: tesis de maestría
Fecha de publicación:2019
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/140501
Acceso en línea:https://hdl.handle.net/2445/140501
Access Level:acceso abierto
Palabra clave:Política de l'habitatge
Allotjaments turístics
Airbnb (Firma)
Housing policy
Tourist accommodation
Entrepreneurship
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spelling Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]García López, Miquel-ÀngelJofre Monseny, JordiMartínez Mazza, RodrigoSegú, MarionaPolítica de l'habitatgeAllotjaments turísticsAirbnb (Firma)Housing policyTourist accommodationEntrepreneurshipIn this paper, we assess the impact of the arrival and expansion of Airbnb on housing rents and prices in the city of Barcelona. Examining highly detailed data on rents and both transaction and posted prices, we use several econometric approaches that exploit the exact timing and geography of Airbnb activity in the city. These include i) panel fixedeffects models with neighborhood-specific time trends, ii) an instrumental variable shiftshare approach in which tourist amenities predict where Airbnb listings will locate and Google searches predict when listings appear, and iii) event-study designs. For the average neighborhood in terms of Airbnb activity, our preferred results imply that rents have increased by 1.9%, while transaction (posted) prices have increased by 5.3% (3.7%). The estimated impact in neighborhoods with high Airbnb activity is substantial. For neighborhoods in the top decile of Airbnb activity distribution, rents are estimated to have increased by 7%, while increases in transaction (posted) prices are estimated at 19% (14%)Institut d’Economia de Barcelona201920192019info:eu-repo/semantics/masterThesis45 p.application/pdfhttps://hdl.handle.net/2445/140501IEB (Institut d’Economia de Barcelona) – Working Papersreponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésReproducció del document publicat a: http://www.ieb.ub.edu/2012022157/ieb/ultimes-publicacionsIEB Working Paper 2019/05[WP E-IEB19/05]cc-by-nc-nd, (c) García López et al., 2019http://creativecommons.org/licenses/by-nc-nd/3.0/es/info:eu-repo/semantics/openAccessoai:recercat.cat:2445/1405012026-05-29T05:05:01Z
dc.title.none.fl_str_mv Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
title Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
spellingShingle Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
García López, Miquel-Àngel
Política de l'habitatge
Allotjaments turístics
Airbnb (Firma)
Housing policy
Tourist accommodation
Entrepreneurship
title_short Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
title_full Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
title_fullStr Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
title_full_unstemmed Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
title_sort Do short-term rental platforms affect housing Markets? Evidence from AirBnb in Barcelona [WP]
dc.creator.none.fl_str_mv García López, Miquel-Àngel
Jofre Monseny, Jordi
Martínez Mazza, Rodrigo
Segú, Mariona
author García López, Miquel-Àngel
author_facet García López, Miquel-Àngel
Jofre Monseny, Jordi
Martínez Mazza, Rodrigo
Segú, Mariona
author_role author
author2 Jofre Monseny, Jordi
Martínez Mazza, Rodrigo
Segú, Mariona
author2_role author
author
author
dc.subject.none.fl_str_mv Política de l'habitatge
Allotjaments turístics
Airbnb (Firma)
Housing policy
Tourist accommodation
Entrepreneurship
topic Política de l'habitatge
Allotjaments turístics
Airbnb (Firma)
Housing policy
Tourist accommodation
Entrepreneurship
description In this paper, we assess the impact of the arrival and expansion of Airbnb on housing rents and prices in the city of Barcelona. Examining highly detailed data on rents and both transaction and posted prices, we use several econometric approaches that exploit the exact timing and geography of Airbnb activity in the city. These include i) panel fixedeffects models with neighborhood-specific time trends, ii) an instrumental variable shiftshare approach in which tourist amenities predict where Airbnb listings will locate and Google searches predict when listings appear, and iii) event-study designs. For the average neighborhood in terms of Airbnb activity, our preferred results imply that rents have increased by 1.9%, while transaction (posted) prices have increased by 5.3% (3.7%). The estimated impact in neighborhoods with high Airbnb activity is substantial. For neighborhoods in the top decile of Airbnb activity distribution, rents are estimated to have increased by 7%, while increases in transaction (posted) prices are estimated at 19% (14%)
publishDate 2019
dc.date.none.fl_str_mv 2019
2019
2019
dc.type.none.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/140501
url https://hdl.handle.net/2445/140501
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: http://www.ieb.ub.edu/2012022157/ieb/ultimes-publicacions
IEB Working Paper 2019/05
[WP E-IEB19/05]
dc.rights.none.fl_str_mv cc-by-nc-nd, (c) García López et al., 2019
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by-nc-nd, (c) García López et al., 2019
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 45 p.
application/pdf
dc.publisher.none.fl_str_mv Institut d’Economia de Barcelona
publisher.none.fl_str_mv Institut d’Economia de Barcelona
dc.source.none.fl_str_mv IEB (Institut d’Economia de Barcelona) – Working Papers
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
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