Heritage Value and Short-Term Rentals: Spatial Dynamics of Airbnb Prices in Rome

Abstract

The intangible accessibility of real estate markets via platforms like Airbnb profoundly influences the urban development industry, propelled by the dynamics of short- to medium-term rentals for tourists. The suggested study aims to examine the association between the prices of listed properties and the influence of proximity to tourist attractions on location-driven pricing. The city of Rome acts as a case study from which to derive pertinent conclusions and proof on the phenomena intended for exploration. The methodological approach relies on a comprehensive classification of locations recognized as tourist attractions, drawn from public resources, travel guides, search engines, and online trends. The identified attractionswere subsequently classified to analyze how spatial proximity influences price formation. Data on short-term rental listings were obtained from the Inside Airbnb platform. The results enable the characterization of Rome as a polycentric urban system, composed of multiple tourism hubs whose spatial interactions are closely associated with prevailing hotel pricing patterns. This study emphasizes the influence of tourist demand on land values, a phenomenon intricately connected to urban gentrification and the capitalization of the real estate market. These findings enhance comprehension of tourism's impact on the geographical and economic structure of cities.