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Short-term accommodation rental in Amsterdam
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Short-term accommodation rental in Amsterdam

An empirical investigation of statistical correlations between short-term rental, housing prices and quality of life index

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This study investigates the emergence and growth of short-term rental (STR) services of accommodation in Amsterdam. More specifically, in its first part it investigates statistical correlations between the emergence and growth of short-term accommodation rentals via collaborative platforms and the development of house prices. In its second part, it assesses statistical correlations between such short-term accommodation rentals and developments in the quality of life, as measured by the “Quality of Life Barometer” (Leefbaarometer). The research focuses on listings of short-term accommodation intermediated via Airbnb as a proxy for the STR of accommodation via collaborative platforms as this is the largest such platform in Amsterdam. The research uses detailed data and a very fine grain to analyse the topic. In particular, the relationship between STRs and housing market dynamics is elaborated upon. Results show that the number of STRs is statistically correlated to house price developments at local levels. Evidence for this is found both by means of a hedonic pricing model and a model with a repeat-sales specification. In areas where Airbnb activity already takes place, increasing intensity of this activity is statistically positively correlated with house prices. At the same time, the initial emergence of Airbnb listings is correlated, in certain areas, with a decrease in house prices. These results suggest that the availability of properties for STRs and house prices are subject to a complex process of co-evolution. With regards to quality of life, the majority of STRs are found in areas with relatively high quality of life. However, when STRs emerge in residential neighbourhoods surrounding the city centre, this emergence can also correlate with a relative decrease of quality of life in these areas, compared to developments in other parts of the city. This all suggests a complex dynamic between STRs and the city. On the one hand, in certain areas the presence of STRs is statistically correlated with higher house prices and a high quality of life, while in other areas the opposite appears to be the case. It can therefore not be said that STRs are in a specific relationship with the city as a whole, but rather that it relates in different ways. To better understand the relationship between STRs and the city, it is suggested to pay specific attention to the areas where STRs are just establishing, as these areas appear the most dynamic in its interaction with the service.
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ISBN 978-92-76-38340-6
DOI 10.2873/97324
Numéro de catalogue ET-09-21-197-EN-N
PDF
ISSN ISBN 978-92-76-38340-6 DOI 10.2873/97324 Numéro de catalogue ET-09-21-197-EN-N
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