Airbnb and rental markets: Evidence from Berlin
Research output: Journal contributions › Journal articles › Research › peer-review
Authors
We exploit the differential responses of Airbnb hosts to two distinct policy interventions in Berlin to shed light on the optimal design of policies targeting short-term rental platforms to mitigate rental market inflation. The first intervention, which affected commercial listings, significantly impacted long-term rental markets, unlike the second intervention, which mainly affected non-commercial listings. Leveraging these policy variations, we estimate the marginal impact of Airbnb on rental supply and rents. Each additional commercial Airbnb listing displaces 0.23 to 0.37 rental units and increases rent per square meter by 1.3 to 2.4 percent. This underscores the importance of targeting commercial listings when regulating short-term rental markets.
| Original language | English |
|---|---|
| Article number | 104007 |
| Journal | Regional Science and Urban Economics |
| Volume | 106 |
| Number of pages | 31 |
| ISSN | 0166-0462 |
| DOIs | |
| Publication status | Published - 01.05.2024 |
Bibliographical note
Funding Information:
We are grateful to the editor, Gabriel Ahlfeldt, and two anonymous referees for their constructive feedback, which helped us to improve the paper considerably. We thank Empirica for granting us access to rent data. We thank Milena Almagro, Pio Baake, Christoph Carnehl, Michelangelo Rossi, Christian Traxler, as well as participants at Cat\u00F3lica Lisbon, CEPR Virtual IO Seminar, DIW Berlin, EARIE 2019, the French\u2013German Workshop on \u201CE-Commerce\u201D, Hertie School of Governance, the 3rd International Workshop \u201CMarket Studies and Spatial Economics\u201D, MaCCI Annual Conference 2021, T\u00E9l\u00E9com Paris, the University of Mannheim, and the University of Bristol for helpful comments. We thank Adam Lederer for editorial support. This work was carried out using the computational facilities of the Advanced Computing Research Centre, University of Bristol \u2014 http://www.bristol.ac.uk/acrc/. All interpretations, errors, and omissions are our own. This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. Declarations of interest: none.
Publisher Copyright:
© 2024 The Author(s)
- Airbnb, Housing market, Rents, Sharing economy, Short-term rental regulation