Arbeitspapier
Airbnb and Rental Markets: Evidence from Berlin
We exploit two policy interventions in Berlin, Germany, to causally identify the impact of Airbnb on rental markets. While the first intervention significantly reduced the number of high-availability Airbnb listings bookable for most of the year, the second intervention led to the exit of mostly occasional, low-availability listings. We find that the reduction in Airbnb supply has a much larger impact on rents and long-term rental supply for the first reform. This is consistent with more professional Airbnb hosts substituting back to the long-term rental market. Accordingly, we estimate that one additional nearby high-availability Airbnb listing crowds out 0.6 long-term rentals and, consequently, increases the asked square-meter rent by 1.8 percent on average. This marginal effect tends to be smaller in districts with a higher Airbnb density. However, these district experienced a larger slowdown in rent increases following the reform due to larger reductions in Airbnb supply.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 9089
- Klassifikation
-
Wirtschaft
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Housing Supply and Markets
Regional Government Analysis: Land Use and Other Regulations
Tourism Economics: General
- Thema
-
rents
housing market
short-term rental regulation
sharing economy
Airbnb
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Duso, Tomaso
Michelsen, Claus
Schäfer, Maximilian
Tran, Kevin Ducbao
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Duso, Tomaso
- Michelsen, Claus
- Schäfer, Maximilian
- Tran, Kevin Ducbao
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021
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