#Airbnb presence increases #rents, but not by much: In our new paper ( https://bit.ly/2PQ6HVV ) @KDBTran, @maxPschaefer, @ClausMichelsen & I use the introduction of a legislation on short-term rental in #Berlin to causally assess the effect of Airbnb on rental market dynamics 1/4
The regulation substantially reduced the number of entire homes listed on #Airbnb, by eight to ten listings per square kilometer. It also strongly reduced the average number of days per year that Airbnb listings are available for booking. 2/4
This policy-induced change in #Airbnb supply allows assessing the #causal impact of Airbnb on rents. A nearby Airbnb increases monthly rent by at least 7 cents per square meter. At average rentals size, this amounts to 38 EUR per month in the more popular Airbnb districts 3/4
The effect appears to be heterogeneous and is larger for #Airbnb listings that are available for rent for a larger part of the year. Moreover, areas with lower Airbnb density tend to be affected more by additional Airbnb listings. 4/4
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