Housing

In the area of short-term rentals, a structurally induced increase in housing shortages and an increase in rents can be observed in many European cities, i.e. developments that are partly caused by the emergence of accommodation platforms. Taking a closer look at the accommodation sector for example, we observe, that around 2.000 apartments in Vienna are already permanently withdrawn from the housing market due to short-term rentals. Even though this seems not high, short-term rental platforms offers are highly concentrated in touristic areas and in districts, where rents and housing demand are already high, while in the most inhabited districts there are few.

The principle of “live-like-a-local” is therefore not given and results in a crowding-out effect. Additionally, there is a huge discrepancy regarding the share of income. The top 20 percent of accommodation providers receive around two-thirds of the total monthly income. 6.5% of the total income goes to the lower 50 percent.

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