Airbnb & the property market
In the Netherlands alone, there are around 28,000 apartments on Airbnb, more than half of them in Amsterdam.
Is AIRBNB driving up home prices across Europe?
The short-term leasing has established itself as a separate business model. The daily rental of apartments via sharing platforms reduces the supply on long term accommodation and in turn drives up real estate prices in attractive cities and tourist destinations across Europe. Behind the scenes of the sharing platforms, there are now professional investor platforms on which they yield the potentials of individual real estates. The better the utilization, the higher the value of a property. Furthermore, there are owner service companies covering the work that is incurred in renting out the property. This ranges from setting up the property to cleaning and reacting to complaints from neighbors who feel disturbed by the short-term rental in their house.
amsterdam rental prices since airbnb REGULATIONS
In January 2017, 17,042 properties were recorded on AirBnb, compared with 15,253 in January 2018. The offered units fell particularly due to the regulation crack downs by the Gemeente along with there introduction of the 60 day holiday letting limit (soon to be 30). This significant drop was seen in the autumn of 2017, but how did this effect the long stay rental prices?
Real estate agencies recognized a stabilizing trend in rental prices especially in central tourist areas and in the autumn of 2017. An increase in supply in properties within the price category of €1,500 to €3,000 was seen on Pararius however the €700 to €1400 remained in high demand.
Amsterdam suburbs have seen significant improvements in recent years. are residents finding better options?
The appeal in the neighborhoods on the outskirts of Amsterdam have increased and these still affordable neighborhoods have seen a welcoming revival of investments. Take Noord, a so-called upcoming neighborhood on the other side of the IJ. In terms of location, not ideal for someone who actually wants to live in the city, but it is still an option and the new North-South underground expected to open in June 2018.
Long stay rental prices in Amsterdam generally have increased over the years even prior to Airbnb, so we are currently collecting the statistics between January 2016 - July 2018 to see how the "normal' trend will affect the current increase in rental prices. If you wish to receive the results to this survey as well as our 'How Brexit may already effecting Amsterdam property prices' then please sign up to our free newsletter here. We never share or spam your data.
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