The Airbnb Effect on theRental Market: the Case of Madrid

Jorge Luis Casanova Ferrando

No eee2019-34, Studies on the Spanish Economy from FEDEA

Abstract: The debate over Airbnb is increasingly gaining attention both in academic and nonacademic spheres. However, in the specialized literature almost all analyses have ignored the spatial dependence behind it, that is, whether landlord’s decisions to raise or keep prices are related to each other. In the City of Madrid, non-spatial and spatial regressions of individual rental prices on dwelling characteristics and Airbnb density were compared. The results suggest that traditional models were biased as once spatial effects are introduced, the impact of Airbnb is no longer significant.

Date: 2019-10
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