Publicação
The political economy of housing investment in the short‐term rental market: insights from urban Portugal
| Resumo: | Short-term rentals (STRs) emerged as holiday accommodations, disrupting the hospitality industry in the decade before COVID-19. Mainstream explanations for their growth revolved around digital tourism platforms like Airbnb as market disruptors and the sharing economy rationale. At the same time, critical scholars explored the capitalisation of greater rent gaps in urban central locations. However, these explanations are insufficient to explain the growth of STRs. We supplement them by building bridges between the urban political economy and the geographies of financialisation through the cases of Lisbon and Porto before the pandemic. The paper focuses on tourism-induced housing investment, taking a closer look at the profile of investors in association with STR property managers in the context of the late-entrepreneurial urban regime. We conclude that tourism development has allowed opportunities for housing financialisation through STR professionalisation, enhancing the allocation of interest-bearing capital in tourism-oriented real estate. |
|---|---|
| Autores principais: | Jover, Jaime |
| Outros Autores: | Cocola-Gant, Agustín |
| Assunto: | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| Ano: | 2023 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1865920786478399488 |
|---|---|
| author | Jover, Jaime |
| author2 | Cocola-Gant, Agustín |
| author2_role | author |
| author_facet | Jover, Jaime Jover, Jaime Cocola-Gant, Agustín Cocola-Gant, Agustín |
| author_role | author |
| contributor_name_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_str | [{\"Person.name\":\"Jover, Jaime\"},{\"Person.name\":\"Cocola-Gant, Agustín\",\"Person.identifier.orcid\":\"0000-0003-3395-4233\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Jover, Jaime Cocola-Gant, Agustín |
| datacite.date.Accepted.fl_str_mv | 2023-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2022-10-25T10:14:27Z |
| datacite.date.embargoed.fl_str_mv | 2022-10-25T10:14:27Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| datacite.titles.title.fl_str_mv | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| dc.contributor.none.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Jover, Jaime Cocola-Gant, Agustín |
| dc.date.Accepted.fl_str_mv | 2023-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2022-10-25T10:14:27Z |
| dc.date.embargoed.fl_str_mv | 2022-10-25T10:14:27Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10451/54862 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | John Wiley & Son |
| dc.rights.cclincense.fl_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| dc.title.fl_str_mv | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| description | Short-term rentals (STRs) emerged as holiday accommodations, disrupting the hospitality industry in the decade before COVID-19. Mainstream explanations for their growth revolved around digital tourism platforms like Airbnb as market disruptors and the sharing economy rationale. At the same time, critical scholars explored the capitalisation of greater rent gaps in urban central locations. However, these explanations are insufficient to explain the growth of STRs. We supplement them by building bridges between the urban political economy and the geographies of financialisation through the cases of Lisbon and Porto before the pandemic. The paper focuses on tourism-induced housing investment, taking a closer look at the profile of investors in association with STR property managers in the context of the late-entrepreneurial urban regime. We conclude that tourism development has allowed opportunities for housing financialisation through STR professionalisation, enhancing the allocation of interest-bearing capital in tourism-oriented real estate. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | article |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/87ff17fd-59b6-4b61-a74e-6320b259b431/download |
| id | ul_3fa97e006eef6baeef406c3a01265f2e |
| identifier.url.fl_str_mv | http://hdl.handle.net/10451/54862 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10451/54862 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Jover, Jaime Cocola-Gant, Agustín Cocola-Gant, Agustín https://www.ciencia-id.pt/AA11-347A-AE22 AA11-347A-AE22 http://orcid.org/0000-0003-3395-4233 0000-0003-3395-4233 |
| publishDate | 2023 |
| publisher.none.fl_str_mv | John Wiley & Son |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engJohn Wiley & Sonpt_PTShort-term rentals (STRs) emerged as holiday accommodations, disrupting the hospitality industry in the decade before COVID-19. Mainstream explanations for their growth revolved around digital tourism platforms like Airbnb as market disruptors and the sharing economy rationale. At the same time, critical scholars explored the capitalisation of greater rent gaps in urban central locations. However, these explanations are insufficient to explain the growth of STRs. We supplement them by building bridges between the urban political economy and the geographies of financialisation through the cases of Lisbon and Porto before the pandemic. The paper focuses on tourism-induced housing investment, taking a closer look at the profile of investors in association with STR property managers in the context of the late-entrepreneurial urban regime. We conclude that tourism development has allowed opportunities for housing financialisation through STR professionalisation, enhancing the allocation of interest-bearing capital in tourism-oriented real estate.application/pdfpt_PTThe political economy of housing investment in the short‐term rental market: insights from urban PortugalJover, JaimePersonalCocola-Gant, AgustínDSpacehttp://dspace.org/items/365dbb1a-a13a-4aa2-9877-30d653a7cda7DSpacehttp://dspace.org/items/365dbb1a-a13a-4aa2-9877-30d653a7cda7Cocola-GantAgustínCiência IDhttps://www.ciencia-id.ptAA11-347A-AE22ORCIDhttp://orcid.org0000-0003-3395-4233Scopus Author IDhttps://www.scopus.com56899013300HostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.ptISSNIsPartOf0066-4812DOIIsPartOf10.1111/anti.128812022-10-25T10:14:27Z20232023-01-01T00:00:00ZHandlehttp://hdl.handle.net/10451/54862http://purl.org/coar/access_right/c_abf2open accessShort-term rentals (STRs)FinancialisationProperty managersHousinginvestmentSouthern Europe213205 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal article2023http://creativecommons.org/licenses/by/4.0/http://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/87ff17fd-59b6-4b61-a74e-6320b259b431/downloadAntipode551134155 |
| spellingShingle | The political economy of housing investment in the short‐term rental market: insights from urban Portugal The political economy of housing investment in the short‐term rental market: insights from urban Portugal Jover, Jaime Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe Jover, Jaime Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| status | SINGLETON |
| subject.fl_str_mv | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| title | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| title_full | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| title_fullStr | The political economy of housing investment in the short‐term rental market: insights from urban Portugal The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| title_full_unstemmed | The political economy of housing investment in the short‐term rental market: insights from urban Portugal The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| title_short | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| title_sort | The political economy of housing investment in the short‐term rental market: insights from urban Portugal |
| topic | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| topic_facet | Short-term rentals (STRs) Financialisation Property managers Housinginvestment Southern Europe |
| url | http://hdl.handle.net/10451/54862 |
| visible | 1 |