Airbnb and rental markets: evidence from Berlin

Tomaso Duso, Claus Michelsen (), Maximilian Schäfer () and Kevin Ducbao Tran
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Tomaso Duso: DIW Berlin - Deutsches Institut für Wirtschaftsforschung, TUB - Technical University of Berlin / Technische Universität Berlin, CEPR - Center for Economic Policy Research, CESifo - Center for Economic Studies - Ifo Institute - CESifo GmbH
Claus Michelsen: Leuphana University of Lüneburg, VFA - Verband Forschender Arzneimittelhersteller
Maximilian Schäfer: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]
Kevin Ducbao Tran: University of Bristol [Bristol]

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Abstract: We exploit the differential responses of Airbnb hosts to two distinct policy interventions in Berlin to shed light on the optimal design of policies targeting short-term rental platforms to mitigate rental market inflation. The first intervention, which affected commercial listings, significantly impacted long-term rental markets, unlike the second intervention, which mainly affected non-commercial listings. Leveraging these policy variations, we estimate the marginal impact of Airbnb on rental supply and rents. Each additional commercial Airbnb listing displaces 0.23 to 0.37 rental units and increases rent per square meter by 1.3 to 2.4 percent. This underscores the importance of targeting commercial listings when regulating short-term rental markets.

Keywords: Short-term rental regulation; Sharing economy; Rents; Housing market; Airbnb; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024-05
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Published in Regional Science and Urban Economics, 2024, 106, pp.104007. ⟨10.1016/j.regsciurbeco.2024.104007⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04551670

DOI: 10.1016/j.regsciurbeco.2024.104007

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