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Is AirBNB pushing rental prices up? - VisualPolitik EN
Posted
August 30, 2019
Views
109,032
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3,650
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August 30, 2019
109,032
3,650
460
3.77%
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13:24Now PlayingAirBNB has registered over 400 million check-ins just in the last decade. Today, hundreds of people worldwide live off of their earnings from AirBNB. But this great success doesn’t come without problems. Throughout the world’s cities, platforms against this website are surfacing. In fact, many cities are banning or restricting AirBNB.
The biggest reason is the alleged increase in the rental prices. At the end of the day, owners can make much more Money from tourists than from tenants. This would drop the rental supply and increase the prices.
But how much of this is true? How much is AirBNB to blame for rent prices going up? In this video we will answer to these questions.
*Special thanks to:
Ynnon Tal, from CEVRO University
*ERRATUM
1. In minute 2:45, Simon explains that the Average Daily Rate in Barcelona is €187 and the average occupancy rate is 81%. These ADR and occupancy rates were just for the month of July 2019. When averaged over the whole year, the ADR is €148 and the Occupancy rate, 72%.
2. Top-tier, full-time vacation rentals could make up to €55,000 in a year. However, the average (median) revenue for full-time rentals in the last twelve months was significantly lower, at $40,426 (€36,500). Full-time rentals are properties that are available for 9+ months of the year or more.* The average revenue for all Entire Home Airbnb rentals in Barcelona was only $7,945 (€7,179).
3. In minute 5:50, Simon states that there are 21,800 Airbnb apartments in Barcelona, and with 177,000 houses in the city available for rent in 2011 (the figures are also 8 years old here), he concludes that "12% of residential houses are now for tourists".
This is not exactly accurate: 21,800 is the number of Airbnb AND HomeAway rentals that had at least one booked or available day in the month of July 2019. i.e. A large number of these rentals weren't booked (the number of actual booked rentals in the month was 11,000, almost half the number cited). Moreover, this 21,800 number includes rentals that were just uploaded for one weekend on the site that month.
Other videos from VisualPolitik
How AIRBNB Revolutionized the TOURISM Industry
Cars vs Cities: How can TRAFFIC be RESTRICTED?
Why is NORTH KOREA censoring INTERNET?
Interesting links:
Tal, Y. (2019) AIRBNB AND SHORT-TERM RENTAL PLATFORMS’ IMPACT ON HOUSING AFFORDABILITY – A COMPREHENSIVE LITERATURE REVIEW
Coles, P. Egesdal, M., Gould, I., Xiaodi Li Helen,. Sundararajan, Arun. (2017) Airbnb Usage Across New York City Neighborhoods: Geographic Patterns and Regulatory Implications
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