The COVID-19 Pandemic, Airbnb and Housing Market Dynamics in Warsaw

Q2 Social Sciences

Critical Housing Analysis Pub Date : 2021-06-01 DOI:10.13060/23362839.2021.8.1.524

R. Trojanek, Poland Business, Michał Głuszak, Michał Hebdzyński, Justyna Tanas

引用次数: 27

Abstract

In this study, we analyse the impact of COVID-19 on house rents and prices in Warsaw, the capital of Poland. Hedonic indexes indicate a slight increase in prices (ca. 1.2%) and a substantial drop in long-term rents (ca. -7.7%) between March 2020 and December 2020. The largest decline in rents occurred in centrally located neighbourhoods, which was largely due to the inflow of new housing supply from the short-term rental market (the Airbnb Warsaw market shrank by almost 30% in December 2020 y/y). Using hedonic methods, we show the effect of the shrinking Airbnb market on the drop in long-term rents. The study indicates the elasticity of rents with respect to Airbnb supply, with a 1% change in Airbnb listings leading to a 0.031% change in rents.

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COVID-19大流行，爱彼迎和华沙住房市场动态

在这项研究中，我们分析了新冠肺炎对波兰首都华沙房屋租金和价格的影响。Hedonic指数显示，2020年3月至2020年12月期间，价格略有上涨（约1.2%），长期租金大幅下降（约7.7%）。租金下降幅度最大的是位于市中心的街区，这主要是由于短期租赁市场的新住房供应流入（2020年12月，Airbnb Warsaw市场同比萎缩了近30%）。使用享乐方法，我们展示了Airbnb市场萎缩对长期租金下降的影响。该研究表明，租金相对于Airbnb供应的弹性，Airbnb房源的1%变化导致租金的0.031%变化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Critical Housing Analysis Social Sciences-Sociology and Political Science

CiteScore

2.70

自引率

0.00%

发文量

期刊介绍： Critical Housing Analysis is a peer-reviewed academic journal focusing on critical and innovative housing research. The journal was launched in January 2014 and publishes two online issues annually. Critical Housing Analysis is published by the Institute of Sociology of the Czech Academy of Sciences. Critical Housing Analysis aims to provide on-line discussion space for researchers who come up with innovative, critical and challenging ideas and approaches in housing-related research. The unique function of this journal is to facilitate rapid feedback on critical and innovative ideas and methods developed by housing researchers around the world. We are especially keen to publish papers that provide: 1.Innovations in methods, theories and practices used in housing-related research. We especially welcome papers applying original research strategies (such as, mixed and interdisciplinary methods) and international comparisons with a strong sense for contextual and institutional differences. Papers should provide new and fresh research perspectives allowing a deeper understanding of housing markets, policies and systems. Innovations need to be justified but they could be “work in progress”, i.e. their findings may not yet have been fully verified. 2.Critiques of assumptions, methods and theories used in housing-related research. Such critical evaluations must be well-founded (empirically or by consistently logical argument) and convincing. However, there is no particular need to provide a solution to the problems that have been identified. 3.Critiques of applied housing practices and policies in particular cultural and institutional contexts, especially for those countries that are less represented in mainstream housing policy discourse. The critical assessment of policies must be analytical, should propose new perspectives and lead to wider policy implications.