Short-term rental platforms contribute to rising housing rental prices
the verdict
CONTESTED
contested - evenly split
refutedsupported
the weight of evidence
5 sources for · 1 against
Empirical studies report that an increase in short-term rental listings raises housing rental prices, whereas regional policy evaluations find no evidence that short-term rental caps have a sustained impact on long-term rent levels.
Gentrification demands updated frameworks to assess the impact of some major global trends on the local populations’ access to housing. Short-term accommodation using digital platforms in previously gentrified central urban areas is playing a significant role in outlining a new wave of ‘transnational gentrification’ in a number of global cities. Having undergone classical patterns of gentrification over the last two decades, the central district of Madrid and its surroundings are showing patterns of a new wave of gentrification in a context of economic crisis, planetary rent gaps, increasing global tourism and an increase in rental prices in central areas that may be related to the emergence of short-term rentals – making Madrid a relevant case for depicting transnational gentrification in the Southern European capitals. Based on empirical data, this work explores the holiday rental supply in Madrid over three years (2015–2018), verifying a strong association between the growth in tourist arrivals, the settlement of new residents from wealthy economic backgrounds and increasing rental prices. Since this process is accompanied by deregulation of local rental contracts and the growth of transnational Real Estate Investment Trusts (REITs), even in some of the most vulnerable areas located beyond the M-30 ring road, this wave of gentrification has the potential to produce displacement and substitution of residents.
ABSTRACT With a strong post-pandemic rebound in domestic and international travel, debates regarding how best to regulate short-term rentals have surfaced as a key policy topic. This paper examines the dynamic causal impacts of a 180-day cap on short- and long-term rental markets in multiple regions in New South Wales, Australia. The analysis reveals a temporary reduction of active short-term rentals during the early implementation, which quickly dissipated. No evidence is found for the cap having any sustained impact on long-term rent levels. The results suggest that without effective enforcement, a 180-day cap alone may be insufficient to achieve policy objectives.
Recent research interest has focused on the impact of the room sharing business model on housing markets. However, existing empirical evidence is limited and exclusively focuses on few large cities in the U.S. This study examines the effects of Airbnb on housing rental and sales prices using a unique large-scale dataset comprised of housing market transaction records and the number of Airbnb listings drawn from their website in Taiwan. We estimate a fixed effect model of housing rental and sales price equations and find that a one-standard deviation increase in the number of Airbnb listings raises house rental prices by 0.38%. This finding suggests that a substitution effect is present between Airbnb's short-term accommodation and the housing rental market. Moreover, a larger effect on rental price is found among Airbnb listings that offer an entire room or apartment. Additionally, since September 2017, multinational digital platform companies must comply with a new sales tax policy in Taiwan. We evaluate the effect of this tax policy using the difference-in-difference method and find a negative impact on the number of Airbnb listings and housing rental prices after its implementation. This study is the first to empirically assess the effectiveness of tax policy on regulating room sharing business models.
This thesis explores the role of owner-occupied apartments (ägarlägenheter) in the Swedish private rental market, particularly in light of the government’s legislative proposal SOU 2024:83 “More Paths to Owning Your Home”. The proposal aims to simplify and promote the formation of owner-occupied apartments by enabling conversions of existing rental units and removing the requirement for a minimum of three units. If implemented, these changes could significantly alter the structure of the Swedish housing market, especially concerning private rental practices. The study employs a legal-analytical methodology to examine Swedish property law, tenancy regulations, and relevant legal doctrine. A key focus is the comparison between condominiums and owner-occupied apartments, particularly in terms of legal requirements for private rental. Unlike condominium owners, owner-occupiers do not need approval from a housing association to rent out their private home, granting them greater autonomy but also raising concerns about social control and residential security. The study highlights that a broader implementation of owner-occupied apartments may increase short-term renting via platforms such as Airbnb. Prior research suggests that this could contribute to gentrification, rising property prices, and a reduction in long-term rental housing, particularly in central urban areas. At the same time, the model may improve housing market flexibility and promote mobility, especially in growing c
population, largely attributed to the influence of Airbnb causing investors to purchase apartments to use as short-term rentals. Following the COVID-19 pandemic
Beginning in April 2024, there have been protests in Spain against overtourism, specifically in the archipelagos of the Balearics and Canaries, and in the mainland cities of Barcelona, San Sebastián and Málaga. These first three locations are the top three most-visited in Spain by tourists. Following the COVID-19 pandemic limiting tourists' opportunities to travel, the numbers of visitors to Spani
Barcelona in particular is a city that has suffered from overtourism for many years. Concerns became elevated in 2018 and 2019, directed at both beach and cultural tourism, with protests and anti-tourist graffiti. Between 2007 and 2019, some areas of the city experienced a 45% decrease in resident population, largely attributed to the influence of Airbnb causing investors to purchase apartments to use as short-term rentals.
Following the COVID-19 pandemic preventing tourists from travelling, many popular tourist destinations have seen a surge in tourism and record visitor numbers as tourists return in large numbers all at once.
In April 2020, a proposal for radical change in the organisation of the city, the "Manifesto for the Reorganisation of the city after COVID-19", was published in Barcelona by architecture theorist Massimo Paolini and signed by 160 academics and 300 architects. The manifesto is radically critical towards the touristification and commodification of the city, proposing to: "eliminate cruise ships", "maintain the current dimensions of the airport", "stimulate touristic degrowth", and "eliminate any investment to promote the 'Barcelona brand'". In August 2021, Barcelona became the first city to ban short-term private room rentals.
Space is naturally limited on islands, with a growth in tourism – and the related renting of properties to tourists at inflated rates – has caused a housing crisis. By 2024, about 1,000 residents of Mallorca lived in their vehicles, as did an unspecified number of Ibiza residents. The government of the Balearic Islands since 2023 is conservative, and refused to implement the rent cap introduced by the Spanish government. In March 2024, the Balearics government began imposing severe fines for anti-social behaviour from tourists, bringing the restrictions in line with the laws on residents, as the number of tourists continued to grow and such incidents increased. In the Canary Islands in 2023, a third of residents were at risk of poverty. Since being designated European Capital of Culture in 2016, San Sebastián has experienced an accelerated process of touristification, which has had a particularly significant impact…
Original language summary: Εκπομπή έρευνας που αναδεικνύει σύγχρονα κοινωνικά προβλήματα σε επιμέλεια-παρουσίαση των δημοσιογράφων Εμμανουέλας Αργείτη, Μαρίνας Δεμερτζιάν και Μάχης Νικολάρα. Το συγκεκριμένο επεισόδιο ανιχνεύει το παγκόσμιο φαινόμενο της οικονομίας διαμοιρασμού, που μέσα στην κρίση διαμοίρασε εισόδημα, στήριξε νοικοκυριά, συντήρησε περιουσίες και πλέον εξελίσσεται ραγδαία σε βαριά βιομηχανία. Επιπλέον, οι δημοσιογράφοι της εκπομπής αναδεικνύουν το λεγόμενο ''airbnb'' ή αλλιώς βραχυχρόνια μίσθωση και περπατούν σε γειτονιές του κέντρου της Αθήνας που αλλάζουν. Μιλούν με κατοίκους
Everything we examined (6)
This check searched the claim as stated. It did not run a separate search for evidence against it.