Platform-mediated short-term rentals and gentrification in Madrid

Ardura Urquiaga, Álvaro and Lorente Riverola, Iñigo and Ruiz Sánchez, Javier (2020). Platform-mediated short-term rentals and gentrification in Madrid. "Urban Studies" ; pp. 1-21. ISSN 0042-0980. https://doi.org/10.1177/0042098020918154.

Description

Title: Platform-mediated short-term rentals and gentrification in Madrid
Author/s:
  • Ardura Urquiaga, Álvaro
  • Lorente Riverola, Iñigo
  • Ruiz Sánchez, Javier
Item Type: Article
Título de Revista/Publicación: Urban Studies
Date: June 2020
ISSN: 0042-0980
Subjects:
Freetext Keywords: gentrification; holiday rentals; Madrid; touristification; urban segregation
Faculty: E.T.S. Arquitectura (UPM)
Department: Urbanística y Ordenación del Territorio
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

Gentrification demands updated frameworks to assess the impact of some major global trends onthe local populations’ access to housing. Short-term accommodation using digital platforms inpreviously 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 ofgentrification over the last two decades, the central district of Madrid and its surroundings areshowing patterns of a new wave of gentrification in a context of economic crisis, planetary rentgaps, increasing global tourism and an increase in rental prices in central areas that may be relatedto the emergence of short-term rentals – making Madrid a relevant case for depicting transna-tional gentrification in the Southern European capitals. Based on empirical data, this workexplores the holiday rental supply in Madrid over three years (2015–2018), verifying a strongassociation between the growth in tourist arrivals, the settlement of new residents from wealthyeconomic backgrounds and increasing rental prices. Since this process is accompanied by deregu-lation 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 waveof gentrification has the potential to produce displacement and substitution of residents.

More information

Item ID: 62703
DC Identifier: http://oa.upm.es/62703/
OAI Identifier: oai:oa.upm.es:62703
DOI: 10.1177/0042098020918154
Official URL: https://journals.sagepub.com/doi/10.1177/0042098020918154
Deposited by: Memoria Investigacion
Deposited on: 25 Jun 2020 06:23
Last Modified: 25 Jun 2020 06:23
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