El efecto de Airbnb en los precios de la vivienda: evidencia a partir de modelos hedónicos y submercados espaciales en la Ciudad de México

The effect of Airbnb on the housing market has become a consolidated topic of research in urban studies. The existing literature has identified that the supply of properties on Airbnb is associated with increases in housing prices. However, various studies have suggested that this effect on prices is heterogeneous across different areas of the city, depending on the concentration of properties available on the platform. The aim of this study is to analyze the effect that Airbnb-listed properties have on housing prices in Mexico City and to demonstrate that this effect varies spatially. The study implements spatial autoregressive hedonic pricing models and geographically weighted models to estimate the platform’s effects. The results indicate that a 1% increase in the number of Airbnb listings raises both rental and sale prices by 0.13% across the overall market. It is found that the effect of Airbnb on housing prices varies according to the spatial submarket. In submarkets with a high concentration of Airbnb properties, the effect on prices can be twice as large as the citywide average.