The What, Where, and Why of Airbnb Price Determinants
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Título: | The What, Where, and Why of Airbnb Price Determinants |
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Autor/es: | Pérez Sánchez, Vicente Raúl | Serrano-Estrada, Leticia | Martí Ciriquián, Pablo | Mora García, Raúl Tomás |
Grupo/s de investigación o GITE: | Materiales y Sistemas Constructivos de la Edificación | Urbanística y Ordenación del Territorio en el Espacio Litoral | Grupo de Investigación en Restauración Arquitectónica de la Universidad de Alicante. GIRAUA-CICOP |
Centro, Departamento o Servicio: | Universidad de Alicante. Departamento de Edificación y Urbanismo |
Palabras clave: | Airbnb | Price determinants | Touristic cities | Accommodation prices | Ordinary least squares | Quantile regression method | Sustainability | Urban environment | Collaborative consumption |
Área/s de conocimiento: | Construcciones Arquitectónicas | Urbanística y Ordenación del Territorio |
Fecha de publicación: | 5-dic-2018 |
Editor: | MDPI |
Cita bibliográfica: | Perez-Sanchez VR, Serrano-Estrada L, Marti P, Mora-Garcia R-T. The What, Where, and Why of Airbnb Price Determinants. Sustainability. 2018; 10(12):4596. doi:10.3390/su10124596 |
Resumen: | Breakthrough changes in the rental market have occurred with the introduction of peer-to-peer accommodation services such as Airbnb. This phenomenon is attracting tourists who contribute to the sustainability of local trade and the economic development of the city. This research enriches the current debate on the range of factors that influence Airbnb accommodation prices. To that end, a method was developed to understand the relationship between Airbnb accommodation attributes and listing prices; and to consider variables related to the properties’ location and surrounding urban environment, considering the touristic characteristics of the four Spanish Mediterranean Arc cities selected as case study. A multivariable analysis technique is used for estimating a hedonic price model that adopts the ordinary least squares and the quantile regression methods. The findings obtained for the impact of location on listing prices are contrary to previous studies. In fact, accommodation prices increase incrementally by 1.3% per kilometer from the tourist area, which in all four cases are situated in the historic area of the city. However, at the same time, accommodation prices decrease incrementally as distance from the coastline increases. Lastly, results related to how the listings’ accommodation, host, and advertising characteristics impact Airbnb prices concur with previous studies. |
Patrocinador/es: | This research was funded by the Conselleria de Educación, Investigación, Cultura y Deporte, Generalitat Valenciana (Spain). Project: Valencian Community cities analyzed through Location-Based Social Networks and Web Services Data. Ref. no. AICO/2017/018. |
URI: | http://hdl.handle.net/10045/84571 |
ISSN: | 2071-1050 |
DOI: | 10.3390/su10124596 |
Idioma: | eng |
Tipo: | info:eu-repo/semantics/article |
Derechos: | © 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). |
Revisión científica: | si |
Versión del editor: | https://doi.org/10.3390/su10124596 |
Aparece en las colecciones: | INV - UOTEL - Artículos de Revistas INV - GIRAUA-CICOP - Artículos de Revistas INV - ECO-IA - Artículos de Revistas INV - MSCE - Artículos de Revistas |
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