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People are waking up to this slowly. Globalization of capital is destroying the ability of local populations to purchase real estate in the places they themselv
by sprafa 6y ago
People are waking up to this slowly. Globalization of capital is destroying the ability of local populations to purchase real estate in the places they themselves live. Multiple cities in Europe, even outside of London, are suffering from extreme Airbnbnization, where buildings are pricing out locals just because it's 3x to 10x more profitable to build them for airbnbs.
- ac29 6y agoI'm curious where in Europe has a 10x difference between short term and long term rent. This suggests an Airbnb unit renting for $100/night (and maintaining 100% occupancy all year) could only rent to a local long term renter for ~$300/month?
- fakedang 6y agoJust checked for Barcelona. A few years back, I remember checking a studio for 300 euros. But now, although the average price per night is 50 euros, I could still find a few places with 100+ euros. This is obviously a rough calculation and doesn't take into account the pandemic effects on prices either.
- yokaze 6y agoI had a look too: "Modern stylish, Paseo de Gracia", 1 bedroom apartment, the whole of June: 25.347€. Maybe an outlier. Looking at Idealista, I would put it the rent at 2500€/month tops.
- sprafa 6y agoLisbon.