Visiting cities by networks: Evidence from Asian and European cities short-term rental markets

Paloma Taltavull de La Paz, Raúl Pérez, Francisco Juarez and Zhenyu Su

ERES from European Real Estate Society (ERES)

Abstract: The paper builds the cycles of transactions and prices in the short term rental market from 2015 to 2021 for 46 European and Asian cities to understand how short-term tenants move across the cities. Having the cycles at the city level, the paper builds a panel and estimates a supply-demand model for the short-term rental market and analyses the endogenous relationship and ripple effect among cities using the VECM framework. Results suggest the existence of links between cities, both in short-term rental contracts and prices, supporting the hypothesis that short-term rental market visitors choose cities clustered in networks and that those networks compete with each other as alternative destinations. The evidence suggests that, through the technological platforms and individually, a particular city network is chosen as an alternative to others, revealing tastes changes and inducing segmentation in rental price growth and investment.

Keywords: Cities; population mobility; rental prices,; short term rental market (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
New Economics Papers: this item is included in nep-pay, nep-sea and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:2022_134

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