Tourism housing price nexus

Abstract

Tourism’s positive and negative externalities are of an extreme social and economic importance for the tourism dominant countries. In particular, studying tourism’s impact on housing prices has experienced increased interest over the past decade as it has a relevant influence on real estate economics and housing market development, which spills over the entire economy. Considering the limited existing literature, the objective of this paper is to provide an overview of the previous studies, which summarizes prevailing findings about the impact of tourism on housing prices with respect to three different streams: tourism activity, tourism accommodation capacity and tourism amenities. This paper offers a comprehensive theoretical background and clear-cut insight in tourism’s impact on housing prices, with a great attention to possible issues that may emerge due to tourism heterogeneity across countries. For the same reason, it is beneficiary not only to real estate agents but likewise to decision makers in tourism industry.

Keywords

• amenities
• housing price
• short-term rentals
• tourism activity
• r20
• r30
• z32