August 24, 2016
A new analysis of booking and revenue data for Airbnb has found the short-term rental platform isn’t likely causing rents to increase much at this point, but the company’s rapid growth and incentive for a larger commercial share could change that in the future, FiveThirtyEight reported Wednesday. Honolulu has 1,400 active listings on Airbnb, roughly the same as Las Vegas and Boston. But the percent of those rentals that are considered commercial — as in, apartments that are rented out most of the year to visitors as opposed to someone offering their couch a few days each year — is twice as high in Honolulu. In fact, FiveThirtyEight’s analysis determined that Honolulu had the highest commercial share at 21.1 percent. The average across all markets was 9.7 percent. The experts interviewed in the story say that’s important because it’s the commercial rentals that one, account for the most revenue, and two, actually result in a rental being taken off the market, which in turn could drive up rental prices….
Source: http://www.civilbeat.org/2016/08/analysis-airbnbs-effect-on-rents/
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