Shared Economy - Airbnb and the Cities Housing Crisis
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This is my talk from the Pirate Municipal Conference in Prague 22 Februar 2020. I talked about Airbnb in Prague and other cities, how short term rentals is a symptom of a problem, but not its cause, and looked into municipal regulations from around the world.
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Shared Economy - Airbnb and the Cities Housing Crisis
- 1. SHARED ECONOMY AND AIRBNB 2020-02-22 GREGORY ENGELS PIRATE MUNICIPAL CONFERENCE, PRAGUE
- 2. GREGORY ENGELS Pirate Party Germany Founding Co-Chairman and current vice-chair Pirate Parties International IT-Entrepreneur / Hotelier Member of City Council in Offenbach (Germany)
- 3. WHY AIRBNB Why focus on Airbnb? 85 % market share of short term rentals
- 4. WHY AIRBNB Why focus on Airbnb? 85 % market share of short term rentals
- 5. MARKET SHARE
- 6. AIRBNB AND SHARING New York 2018: • 28% of Revenue: Commercial operators that control multiple entire-home/apartment listings or large portfolios of private rooms are only 12% of hosts but they earn more than 28% of revenue in New York City. • Top 10% of Hosts: The top 10% of hosts earned a 48% of all revenue last year, while the bottom 80% of hosts earned just 32%.
- 7. NEW YORK Two Thirds of Revenue from Likely Illegal Listings: Entire-home/apartment listings account for 75% ($490 million) of total Airbnb revenue and represent 51% of total listings. 87% of entire-home reservations are illegal under New York State law, which means that 66% of revenue ($435 million) and 45% of all New York Airbnb reservations last year were illegal.
- 8. CITIES FIGHT THE SHORT TERM Paris: 1,50 EUR tax per night Barcelona: require host to get a license Berlin, London: max 90 days per year New York: Only shared rent <30 days
- 9. AIRBNB AND SHARING ECONOMY • 13,500 Units of Lost Housing: Airbnb has removed between 7,000 and 13,500 units of housing from New York City’s long- term rental market • $380 More in Rent: By reducing housing supply, Airbnb has increased the median long-term rent in New York City by 1.4% over the last three years, resulting in a $380 rent increase for the median New York tenant looking for an apartment this year. In some Manhattan neighbourhoods the increase is more than $700.
- 10. AIRBNB IN PRAGUE Vast majority of listings are in the tourist center
- 11. AIRBNB IN PRAGUE 13.116 active listings 83% “Entire Home” No Growth
- 12. HOTEL BUSINESS HURT? Bed number stable Revenue growth 1,2% year to year
- 14. AIRBNB IS PREPARING FOR IPO
- 15. AD PLUG: PIRATE SUMMER CAMP Piotrowice Nyskie, Poland http://ps20.eventbrite.com July 18.-26.2020 Reservation / CfP open!
- 16. CONTACT ME Twitter: @dichter Email Gregory.Engels [௹] piratenpartei.de
- 17. SOME RIGHTS RESERVED COPYRIGHT 2020 BY GREGORY ENGELS. EXCEPT WHERE OTHERWISE NOTED, THIS WORK IS LICENSED UNDER THE CREATIVE COMMONS ATTRIBUTION SHARE ALIKE 4.0 LICENSE
- 18. QUELLEN UND LINKS… airdna.co The High Cost of Short-Term Rentals in New York City https://mcgill.ca/newsroom/files/newsroom/ channels/attach/airbnb-report.pdf Squeezed Out: Airbnb’s Commercialization of Home-Sharing in Toronto https://fairbnb.ca/ Fairbnb_Report_Feb_29.pdf Hotel Market Prague https://es.christie.com/christieMediaLibraries/christieSpain/PDFs-Publications/ 20190628_Prague-Snapshot_final_1.pdf?ext=.pdf