STRs are blamed for many troubles, namely for a pressure on housing prices, for transforming neighborhoods, for nuisance and nightlife that affects the well-being of inhabitants, and for an “unfair” competition with Hotel Industry. Barcelona, Lisbon and Berlin are some examples of iconic cities where central and historic neighborhoods have been transformed under pressure from short-term rental. Unfortunately the fast growth of the STR market has taken the local governments by surprise and most touristic agglomerations in the world face important negative externalities. This grants dwellers the opportunity for additional revenue when the accommodation is not occupied and offers both tourists and nomad workers a large variety of lodging in different neighborhoods of the city, leading to an authentic “off-the-beaten-track” (Maitland 2010) experience. Thanks to online intermediaries and platforms like Airbnb, it has become easy to lease one’s accommodation for short periods of time. The rise of short-term rental (STR) online platforms has drastically changed the way tourists, nomad workers and dwellers experience the city. Additionally, analysis in the periphery paves the way for discussion about the effectiveness of one-size-fits-all STR policy design. However, the city’s attempts to limit activity stemming from targeted (commercial) listings yields mixed results as non-targeted (home-sharing) listings also seem to have modified their behavior. This effect is persistent in peripheral areas of the city, with an average effect of 35% of monthly reservation days. This equates to 44% of mean reservation days and over 28 thousand less nights spent per month in STRs across the city. ![]() ![]() We find that regulation has had a reductive effect of over 322 rented days per month per district on average. This paper empirically evaluates the impact Bordeaux’s regulation has had on short-term rental (STR) activity through both a differences-in-differences and a triple-difference design. However, little is known about how effective such interventions are. This disruption has encouraged policy-makers to intervene. ![]() Short-term rental platforms, led by Airbnb, have disrupted the tourism accommodation industry over the last decade.
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