The COVID-19 Pandemic, Airbnb and Housing Market Dynamics in Warsaw

Radoslaw Trojanek, Micha Guszak, Michal Hebdzynski and Justyna Tanas

ERES from European Real Estate Society (ERES)

Abstract: In this study, we analyzed the impact of COVID-19 on house rents and prices in Warsaw, the capital of Poland. Hedonic indexes indicated a slight increase in prices (ca. 1.2%) and a substantial drop in long-term rents (ca. -7.7%) between March 2020 and December 2020. The largest decline in rents occurred in centrally located neighborhoods, influenced mainly by the inflow of new housing supply from the short-term rental market (the Airbnb Warsaw market shrunk by almost 30% in December 2020 y/y). Using hedonic methods, we highlighted the influence of the shrinking Airbnb market on the drop in long-term rents. The study indicates the elasticity of rents with respect to Airbnb supply, with a 1% change in Airbnb listings leading to a 0.031% change in rents.

Keywords: Airbnb; COVID-19; housing market (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-isf, nep-pay and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2021-187 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2021_187

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().