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Short-Term Booking and Rents Cycles: Evidence from Asian and European Cities

Zhenyu Su, Paloma Taltavull de La Paz (), Raúl Pérez and Francisco Juárez Tárraga

ERES from European Real Estate Society (ERES)

Abstract: The paper builds the cycles of transactions and prices in the short-term rental market since almost the beginning of that this rental activity becomes relevant for cities during the second decade of the XXI century. The paper shows the data elaborated building a micro database with Airbnb information for 46 cities around the world. The analysis reaches the cycles by extracting millions of observations and shows the periods where the rental was more relevant for the cities. A model relating short rental visits with macroaggregates allows for learning the main drivers to explain the explosion of short-term visits using housing rental sharing as the means for hospitality.

Keywords: Airbnb; Comovements; rental prices; Short-term rental 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, nep-sea and nep-ure
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Handle: RePEc:arz:wpaper:eres2021_216