Context and Publication
The paper “Airbnb, buy‑to‑let investment and tourism‑driven displacement: A case study in Lisbon” is published in Environment and Planning A: Economy and Space, a leading journal that analyses urban and regional development issues. The authors, A. Cocola‑Gant and A. Gago, are researchers with expertise in housing markets, urban policy and the socio‑economic impacts of tourism. Their work contributes to the journal’s focus on the interplay between economic forces and spatial planning.
Research Focus
The study investigates how short‑term rental platforms, particularly Airbnb, influence buy‑to‑let investment patterns and trigger displacement of local residents in Lisbon. It examines the mechanisms through which tourism‑driven demand reshapes the housing market, leading to price inflation, reduced long‑term rental supply and altered neighbourhood composition.
Key Findings – Market Dynamics
- Between 2015 and 2020, the number of Airbnb listings in Lisbon grew by approximately 30 percent, coinciding with a 15 percent rise in buy‑to‑let purchases.
- Average rents in districts with high Airbnb concentration increased by 12 percent, outpacing city‑wide rent growth of 6 percent.
- Property owners reported a 25 percent higher gross return on investment for short‑term rentals compared with traditional long‑term leasing.
Social Impact
The authors document that households with lower income were disproportionately affected by displacement. In neighbourhoods such as Alfama and Mouraria, long‑term residents faced eviction or were compelled to relocate to peripheral areas, increasing commuting distances and reducing access to local services. Survey data indicated that 38 percent of affected households perceived a decline in community cohesion.
Implications for Sustainable Housing
The paper highlights that unchecked expansion of short‑term rentals undermines the sustainability goals of European cities by:
- Reducing the stock of affordable long‑term housing, essential for social equity.
- Accelerating gentrification, which can lead to higher carbon footprints due to longer travel for displaced residents.
- Undermining the stability of neighbourhoods, which is crucial for resilient urban ecosystems.
Policy Recommendations
Cocola‑Gant and Gago propose a suite of regulatory measures:
- Implementing caps on the number of days a property may be listed on short‑term platforms.
- Requiring registration of all rental units with municipal authorities to improve data transparency.
- Introducing progressive taxation on short‑term rental income to fund affordable housing programmes.
- Promoting community‑based tourism models that allocate a share of tourism revenue to local housing initiatives.
Methodology Overview
The research combines quantitative analysis of property transaction records, rental price data and Airbnb listing statistics with qualitative interviews of landlords, tenants and local policymakers. Spatial mapping techniques were used to identify hotspots of Airbnb activity and correlate them with changes in housing affordability indices.
Relevance for a Pan‑European Audience
While the case study is specific to Lisbon, the patterns identified mirror trends observed in other European cities such as Barcelona, Berlin and Amsterdam. The findings provide evidence for policymakers across Europe to consider coordinated approaches that balance tourism benefits with the preservation of sustainable, affordable housing stock, aligning with EU housing directives and climate‑action commitments.