Rent gap reloaded: Airbnb and the shift from residential to touristic rental housing in the Palma Old Quarter in Mallorca, Spain

Urban Studies ◽  
2018 ◽  
Vol 56 (13) ◽  
pp. 2709-2726 ◽  
Author(s):  
Ismael Yrigoy

In light of the advent of Airbnb, rent gap theory can be helpful for understanding how tourist rentals affect residential rental housing. It is argued that on those properties currently rented to residents, rental payments are not only ‘actual ground rent’, but also ‘potential ground rent’. The shift from a residential to a touristic use of rental housing thereby creates a potential ground rent. Taking as a case study the Palma Old Quarter in Mallorca, Spain, this paper analyses the evolution of the stock, prices, and revenues of residential rentals vis-à-vis tourist rentals and finds that, because it is more profitable to rent to tourists than to residents, the number of houses listed on Airbnb has increased, housing affordability for residents has shrunk, and the threat of displacement has increased.

Author(s):  
Anggun Putri Romadhina ◽  
Eka Kusuma Dewi

The first Covid-19 case in Indonesia was announced on March 2, 2020. This study aims to determine whether there is a significant difference in stock prices, stock transaction volume and stock returns due to the COVID-19 pandemic (case study at PT. Agung Podomoro Land, Tbk). This research data was taken 90 days before and 90 days after the announcement of the first case of COVID-19 in Indonesia. The data was processed by paired sample t-test, using SPSS version 20. From the results of data processing, it was shown that there was a significant difference in stock prices before and after the announcement of the first case of covid-19 in Indonesia. This is indicated by a significance value of 0.000 < 0.05 where the stock price has decreased compared to before the Covid-19 case. Meanwhile, the volume of stock transactions also showed a significant difference with a significance value of 0.007 <0.05, where the volume of stock transactions after the announcement showed a decrease. Likewise, stock returns show a significant difference with a significance value of 0.025 < 0.05 where stock returns have decreased after the announcement of the first case of covid-10 in Indonesia.  


2022 ◽  
Vol 14 (2) ◽  
pp. 852
Author(s):  
Florin Teodor Boldeanu ◽  
José Antonio Clemente-Almendros ◽  
Ileana Tache ◽  
Luis Alberto Seguí-Amortegui

The electricity sector was negatively impacted by the coronavirus disease (COVID-19), with considerable declines in consumption in the initial phase. Investors were in turmoil, and stock prices for these companies plummeted. The aim of this paper is to demonstrate the significant negative influence of the pandemic on abnormal returns for the electricity sector, specifically for traditional and renewable companies and the influence of ESG scores, using the event study approach and multi-variate regressions. Our results show that the pandemic indeed had a negative impact on the electricity sector, with renewable electricity companies suffering a sharper decline than traditional ones. Moreover, we find that ESG pillar scores affected electricity companies differently and are sector-specific. For renewable electricity companies, the returns were positively influenced by the environmental ESG scores and negatively by governance ESG scores.


2018 ◽  
Vol 4 (2) ◽  
pp. 82
Author(s):  
B Gimeno ◽  
J. Aranda ◽  
D. Zambrana ◽  
A. Conserva ◽  
P. López ◽  
...  

Resumen En España, donde existen más de 18 millones de hogares según el último censo del Instituto Nacional de Estadística en 2011, alrededor del 8% de la población reside en viviendas de alquiler social. Del parque de viviendas español, más de la mitad de los edificios se construyeron antes de 1980 y alrededor del 35% entre 1981 y 2006, año en que fue implantado el Código Técnico de la Edificación. Asimismo, más del 80% de los certificados energéticos de edificios existentes registrados hasta julio de 2015, obtiene una calificación E o inferior en términos de emisiones de CO2. Para mejorar estos resultados, la Unión Europea tiene como objetivo alcanzar una tasa de rehabilitación de edificios privados del 2,5% anual, mejorando la eficiencia energética y ampliando la vida útil del parque edificatorio. Sin embargo, los CEEE únicamente representan parte de la etapa de uso, dejando atrás otras, como la de producción, cuyo impacto puede representar un cuarto de las emisiones de CO2 del edificio a lo largo de su ciclo de vida. Para desarrollar una rehabilitación óptima, se propone evaluar la sostenibilidad de los proyectos de rehabilitación incluyendo las etapas de producción, construcción, uso y fin de vida y considerando el impacto medioambiental y económico, así como aspectos sociales relativos a las características de la vivienda social. Este artículo analiza los impactos medioambientales de diferentes soluciones de rehabilitación en vivienda social, tomando como caso de estudio un edificio de vivienda social en Zaragoza. El edificio antes de la rehabilitación supone casi 50 kgCO2-eq/m2año, donde el 60% corresponden al consumo eléctrico durante la fase de uso del edificio. En el estudio también se incluye la variable de confort térmico en situaciones de vulnerabilidad energética. Abstract In Spain, where there are more than 18 million households according to the last census of the National Institute of Statistics in 2011, around 8% of the population lives in social rental housing. Of the Spanish housing stock, more than half of the buildings were built before 1980 and around 35% between 1981 and 2006, the year in which the Technical Building Code was implemented. Likewise, more than 80% of the energy certificates of existing buildings registered until July 2015, obtain an E rating or lower in terms of CO2 emissions. To improve these results, the European Union aims to achieve a private buildings rehabilitation rate of 2.5% per year, improving energy efficiency and extending the useful life of the building park. However, CEEEs only represent part of the use stage, leaving behind others, such as production, whose impact can represent a quarter of the building's CO2 emissions throughout its life cycle. To develop an optimal rehabilitation, it is proposed to evaluate the sustainability of the rehabilitation projects including the stages of production, construction, use and end of life and considering the environmental and economic impact, as well as social aspects related to the characteristics of social housing. This article analyzes the environmental impacts of different rehabilitation solutions in social housing, taking as a case study a social housing building in Zaragoza. The building before the rehabilitation supposes almost 50 kgCO2-eq / m2año, where 60% correspond to the electrical consumption during the phase of use of the building. The study also includes the thermal comfort variable in situations of energy vulnerability.


2021 ◽  
Vol 15 (1) ◽  
pp. 81-101
Author(s):  
Joseph Mensah ◽  
Daniel Tucker-Simmons

In 2015, the predominantly visible minority immigrant community of Herongate, in Ottawa, Ontario, was slated for redevelopment by its landlord, Timbercreek Asset Management. This redevelopment involved mass eviction of the incumbent tenants, demolition of the existing affordable housing and its replacement with luxury rentals, which, by all indications, are beyond the financial reach of the former Herongage tenants. This paper seeks to problematize large-scale residential real estate redevelopment in Canada and examine its impact, using the Herongate situation as a case study. Among other things, it profiles the Herongate community, its history and present redevelopment, and explores the legal framework, and the limits thereof, constraining mass evictions of this type in Ontario. The findings indicate that the selection of Herongate for redevelopment was not fortuitous; generally, racialized and immigrant communities like Herongate are disproportionately likely to be selected for large-scale redevelopment projects, and thus subjected to mass-evictions. Further results suggest that the dissolution of the Herongate community – and the attendant dislocation of its members – has exacted a pronounced social and economic toll and compounded the racial discrimination already experienced by the former Herongate residents, most of whom are visible minorities. The paper concludes with an appeal to imbue the redevelopment process with a greater regard for social justice, and a right to housing as a policy solution to address the injustice caused by real estate redevelopment.


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