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Platform-mediated short-term rentals and gentrification in Madrid

Author

Listed:
  • Alvaro Ardura Urquiaga

    (Universidad Politecnica de Madrid, Spain)

  • Iñigo Lorente-Riverola

    (Universidad Politecnica de Madrid, Spain)

  • Javier Ruiz Sanchez

    (Universidad Politecnica de Madrid, Spain)

Abstract

Gentrification demands updated frameworks to assess the impact of some major global trends on the local populations’ access to housing. Short-term accommodation using digital platforms in previously gentrified central urban areas is playing a significant role in outlining a new wave of ‘transnational gentrification’ in a number of global cities. Having undergone classical patterns of gentrification over the last two decades, the central district of Madrid and its surroundings are showing patterns of a new wave of gentrification in a context of economic crisis, planetary rent gaps, increasing global tourism and an increase in rental prices in central areas that may be related to the emergence of short-term rentals – making Madrid a relevant case for depicting transnational gentrification in the Southern European capitals. Based on empirical data, this work explores the holiday rental supply in Madrid over three years (2015–2018), verifying a strong association between the growth in tourist arrivals, the settlement of new residents from wealthy economic backgrounds and increasing rental prices. Since this process is accompanied by deregulation of local rental contracts and the growth of transnational Real Estate Investment Trusts (REITs), even in some of the most vulnerable areas located beyond the M-30 ring road, this wave of gentrification has the potential to produce displacement and substitution of residents.

Suggested Citation

  • Alvaro Ardura Urquiaga & Iñigo Lorente-Riverola & Javier Ruiz Sanchez, 2020. "Platform-mediated short-term rentals and gentrification in Madrid," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3095-3115, November.
    • Handle: RePEc:sae:urbstu:v:57:y:2020:i:15:p:3095-3115
    DOI: 10.1177/0042098020918154
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    References listed on IDEAS

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    1. Agustín Cócola Gant, 2016. "Holiday Rentals: The New Gentrification Battlefront," Sociological Research Online, , vol. 21(3), pages 112-120, August.
    2. Jason Hackworth & Neil Smith, 2001. "The changing state of gentrification," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 92(4), pages 464-477, November.
    3. Jorge Sequera & Jordi Nofre, 2020. "Touristification, transnational gentrification and urban change in Lisbon: The neighbourhood of Alfama," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3169-3189, November.
    4. Michael Janoschka & Jorge Sequera & Luis Salinas, 2014. "Gentrification in Spain and Latin America — a Critical Dialogue," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 38(4), pages 1234-1265, July.
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    Cited by:

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    2. MaruÅ¡ka Vizek & NebojÅ¡a StojÄ ić & Josip Mikulić, 2023. "Spatial spillovers of tourism activity on housing prices: The case of Croatia," Tourism Economics, , vol. 29(5), pages 1376-1390, August.
    3. Matthew Hayes & Hila Zaban, 2020. "Transnational gentrification: The crossroads of transnational mobility and urban research," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3009-3024, November.
    4. Francisco José Chamizo-Nieto & Nuria Nebot-Gómez de Salazar & Carlos Rosa-Jiménez & Sergio Reyes-Corredera, 2023. "Touristification and Conflicts of Interest in Cruise Destinations: The Case of Main Cultural Tourism Cities on the Spanish Mediterranean Coast," Sustainability, MDPI, vol. 15(8), pages 1-26, April.
    5. Christopher B Goodman & Megan E Hatch, 2023. "State preemption and affordable housing policy," Urban Studies, Urban Studies Journal Limited, vol. 60(6), pages 1048-1065, May.
    6. Thomas Sigler & David Wachsmuth, 2020. "New directions in transnational gentrification: Tourism-led, state-led and lifestyle-led urban transformations," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3190-3201, November.
    7. Marcus Hübscher, 2022. "Planning behind Closed Doors: Unlocking Large-Scale Urban Development Projects Using the Stakeholder Approach on Tenerife, Spain," Land, MDPI, vol. 11(3), pages 1-25, March.
    8. Georgia Alexandri & Michael Janoschka, 2020. "‘Post-pandemic’ transnational gentrifications: A critical outlook," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3202-3214, November.
    9. Mikio Yoshida & Haruka Kato, 2023. "Housing Affordability Risk and Tourism Gentrification in Kyoto City," Sustainability, MDPI, vol. 16(1), pages 1-14, December.
    10. Massimiliano Crisci & Federico Benassi & Hamidreza Rabiei-Dastjerdi & Gavin McArdle, 2022. "Spatio-temporal variations and contextual factors of the supply of Airbnb in Rome. An initial investigation," Letters in Spatial and Resource Sciences, Springer, vol. 15(2), pages 237-253, August.
    11. Riku Tanaka & Haruka Kato & Daisuke Matsushita, 2023. "Population Decline and Urban Transformation by Tourism Gentrification in Kyoto City," Sustainability, MDPI, vol. 15(3), pages 1-14, January.
    12. Haruka Kato & Atsushi Takizawa, 2022. "Population Decline through Tourism Gentrification Caused by Accommodation in Kyoto City," Sustainability, MDPI, vol. 14(18), pages 1-12, September.
    13. Francesca Leccis, 2023. "Urban Regeneration and Touristification in the Sardinian Capital City of Cagliari, Italy," Sustainability, MDPI, vol. 15(5), pages 1-29, February.

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