The Effect of Tourism on the Housing Market View Full Text


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Chapter Info

DATE

2011-11-04

AUTHORS

Bianca Biagi , Dionysia Lambiri , Alessandra Faggian

ABSTRACT

The aim of this chapter is to examine the way theoretical and empirical literature has looked at the effect of tourism on housing markets in resort destinations. We note that while research on tourism recognizes the effects of recreation activities on local land and housing markets, studies focusing specifically on this issue are very limited. For the purposes of the present work, we first identify the various actors/participants in housing markets and explain how they interact in the context of tourism destinations. Then, we focus on two core strands of relevant research: first, we examine the hedonic price method, as a mechanism to explore how tourism-related amenities can be “quantified” and developed into one of the variables that affect directly and indirectly (through quality-of-life considerations) house price formation in tourism destinations. In the same context, with the use of a case study, we also review an alternative way to quantify the effects of tourism, through the creation of a composite tourism index that enters directly into the house price estimation function. Second, we look at the growing literature on holiday homes and examine how demand for this type of accommodation in tourism destinations can affect the functioning of local housing markets. In this context, we examine issues of housing affordability in tourism destinations, the role of the supply side, but also the policy challenges and responses, suggested in the relevant literature. More... »

PAGES

635-652

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/978-94-007-2288-0_36

DOI

http://dx.doi.org/10.1007/978-94-007-2288-0_36

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1004149447


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