CEU Electronic Theses and Dissertations, 2025
| Author | Martianov, Mikhail |
|---|---|
| Title | Airbnb and the City: Exploring Causal Relationships Between Short-Term Rentals and Housing Market in Vienna |
| Summary | This master’s thesis investigates the causal impact of short-term rentals (STRs), particularly through platforms like Airbnb, on Vienna’s housing market, with a specific focus on the effects of a restrictive STR policy implemented on July 1, 2024. A Difference-in-Differences (DiD) methodology is applied, treating Vienna as the intervention group and other major Austrian cities: Graz, Linz, and Salzburg -- as controls. The analysis reveals that the 2024 policy led to a significant decline in Vienna’s Airbnb market, with total listings and availability decreasing by 7 to 20 percentage points from Q1 2024 to Q1 2025. As the result, housing prices in Vienna did not increase by approximately 5\% relative to the control cities, indicating that the policy effectively prevented expected price growth. The policy’s impact was found to be consistent across different apartment sizes, but there was some evidence of a more pronounced effect in central districts, although this was not statistically significant in all model specifications. |
| Supervisor | Gabor Bekes |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2025/martianov_mikhail.pdf |
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