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Airbnb growing despite regulation

Anna Pakulniewicz 10 September 2018

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

CZECH REPUBLIC According to research be Colliers International and Hotelschool The Hague, despite many countries having recently introduced legislation to restrict the use of the hospitality service Airbnb, it continues to grow in five large European cities: London, Amsterdam, Berlin, Madrid and Paris.

Airbnb’s share of the overnight stay market has increased by to 3.4 pct. since 2016.

“In all cities, it’s clear that Airbnb is here to stay and has become a mature alternative to traditional hotels. With Airbnb, guests have more options to choose from and it’s also a cheaper alternative to hotels,“ said Marc Finney, the head of hotels & resorts at Colliers International.

Prague is growing in popularity as a tourist destination. Evidence of this includes traffic at Prague’s international airport increasing from 10.8 mln in 2012 to 15.4 mln in 2017. Such momentum has had a huge impact on the performance of the hospitality market, and the popular Airbnb platform is rapidly catching up with more developed Western European markets.

Legislation limiting the number of nights for which a property can be rented via any “shared economy system” is not yet in place, but is currently being discussed. “We expect that some form of restriction will be introduced given the rapid growth of the platform – overnight stays in Airbnb accommodation rose 61 pct in 2017 (year-on-year). Some point to the rapid growth of Airbnb as contributing to the shortage of long-term rental apartments on the housing market,“ he adds.


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