The impact of Airbnb on residential property values and rents: Evidence from Portugal

被引：30
|
作者：
Franco, Sofia F. [1 ,2 ]
Santos, Carlos Daniel [3 ]
机构：
[1] Univ Calif Irvine, Irvine Dept Econ, 3151 Social Sci Plaza, Irvine, CA 92697 USA
[2] NovaSBE Environm Econ Knowledge Ctr, Campus Carcavelos,Rua Holanda 1, P-2775405 Carcavelos, Portugal
[3] Nova Sch Business & Econ NovaSBE, Campus Carcavelos,Rua Holanda 1, P-2775405 Carcavelos, Portugal
来源：
REGIONAL SCIENCE AND URBAN ECONOMICS | 2021年 / 88卷
关键词：
Property values; Airbnb; Short-term rentals; Regulation;
D O I：
10.1016/j.regsciurbeco.2021.103667
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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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页数：22
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