The COVID-19 pandemic, Airbnb and housing market dynamics in Warsaw

• Authors: Radoslaw Trojanek , Michal Gluszak , Michal Hebdzynski , Justyna Tanas
• Languages of publication: EN

Abstracts

EN

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.

Keywords

EN

housing market; Airbnb; COVID-19

Discipline

• SOCIOLOGY: SOCIOLOGY

• Publisher: Institute of Sociology, Czech Academy of Sciences
• Journal: Critical Housing Analysis
• Year: 2021
• Volume: 8
• Issue: 1
• Pages: 72-84
• Document type: ARTICLE

Contributors

author

Radoslaw Trojanek

• Critical Housing Analysis, redakce,Sociologický ústav AV ČR, v. v. i. Jilská 1, 110 00 Praha 1, Czech Republic

author

Michal Gluszak

• Critical Housing Analysis, redakce,Sociologický ústav AV ČR, v. v. i. Jilská 1, 110 00 Praha 1, Czech Republic

author

Michal Hebdzynski

• Critical Housing Analysis, redakce,Sociologický ústav AV ČR, v. v. i. Jilská 1, 110 00 Praha 1, Czech Republic

author

Justyna Tanas

• Critical Housing Analysis, redakce,Sociologický ústav AV ČR, v. v. i. Jilská 1, 110 00 Praha 1, Czech Republic