Wednesday , June 16 2021

In the old town district, every fifth apartment is rented over Airbnb



In the narrower historic center of Prague, every fifth apartment is used for short-term leases over Airbnb and similar platforms, which has a significant impact on the growth of classical rentals.

Only one-fifth of the apartments thus offer a function as a truly shared accommodation, where guest also hosts. This is below the average in Europe. A third of landlords also offer two or more apartments. This is the result of the analysis of the City Planning and Development Institute (IPR) based on data from www.airdna.co.

Offer number of beds through Airbnb and hotels (2017)

City district Number of beds Airbnb Number of beds in hotels
Prague 1 17663 27733
Prague 2 8867 9324
Prague 3 6337 6232
Prague 4 2112 7160
Prague 5 3981 6309
Prague 6 2411 8913
Prague 7 2719
Prague 8 3006 8346
Prague 9 750 4285
Prague 10 2404 3474

According to the analysis, in Prague, there are 650 thousand apartments. The number of apartments offered by Airbnb in May this year was 11,500, or 1.4 percent of the housing stock. In Josef, the smaller quarter and the New Town, the share exceeds 10%, in the Old Town, as much as 20%.

In Karlin it is 4.9 percent, Vinohradi 3.2, Smihov 2.9 and Žizkov 2.8 percent. In other parts of Prague, the share is negligible. About 40% of the offer is concentrated in the historical center.

The analysis, which relates to the offer of real estate servers, shows that in Prague there are more apartments for short-term than traditional rent. This, according to the author, shows that Airbnb and other platforms reduce the offer of classic residential buildings, reflected in the rising cost of living. This is especially true in the historical center, the direction of the core is weaker.

According to the authors, it is difficult to say that the apartments offered by Airbnb necessarily bring more money to the owners than the usual leases for renting.

However, in the case of popularity and greater housing, accommodation platforms can be considerably more profitable. "On the other hand, short-term lease includes higher risks, uncertainty, potential disadvantages and financial difficulties," she said.

About 30 percent of the hosts offer two or more properties over Airbnb, 40 percent in the historic center. There are also a large number of people who do not share a flat with tenants. According to the analysis, this means an even greater departure from the original principle of shared economy than in German cities, for example. In Prague, the overall volume of Airbnb is higher than in Vienna, Warsaw or Budapest.

The authors of the analysis estimate that the average average stay of 2.5 nights and the average occupancy rate of the facility 206.2 days per year in Prague last year was 2.6-6.6 million people over Airbnb, depending on how many guests used the marital beds, which are listed as one bed. For classic accommodation, there were about 7.6 million guests.

In May 2018, the Airbnb charge rate was 1734 CZK per day in Prague. The city estimates that it comes annually from 120 million kronor to unpaid fees.

The authors of the analysis recommend that Prague, in view of the negative impacts of housing platforms on the housing market and the lives of local residents, should prepare a legal analysis of possible regulations.

An example is Amsterdam, where owners can rent their apartments for a maximum of 60 days a year for a short-term period, and from 2019 this period will be reduced to 30 days. In addition, the number of persons accommodated must not exceed four.

Compliance with the rules should be kept by Airbnb himself, but it is clear that they are in violation, the authors write. Regulations exist in Barcelona and Paris, for example, in Greece, national regulations for the fight against gray economy have been established.


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