According to Douglas Elliman's latest report, one in five rental apartments in Manhattan is now bidding among multiple people (one in three luxury apartments) The inventory of 10000 units has been hovering in the northwest of Manhattan, queens and Brooklyn
As of April, this figure was only 7669 sets. This is thousands less than the number of airbnb rentals for the whole apartment and the whole family in New York City. According to airdna, a third-party website that tracks short-term leases, 1072 homes are available for rent in New York City. Inside airbnb, another website that collects airbnb housing data, believes that this number is even higher, 20397.
Since the emergence of airbnb in 2008, people have been worried that the short-term leasing company will consume the housing stock by absorbing available rooms, resulting in rising house prices in cities such as New York and San Francisco, which are already in serious shortage of housing. According to the data of inside airbnb and airdna, the absolute number of apartments and houses available on the website reached its peak before the COVID-19, and then declined. But now it's different. The number of apartments is so small that airbnb occupies most of the city's rentable housing supply.
Airbnb does not publish the housing availability or reservation data, nor would it comment on the data collected by airdna and inside airbnb, but its representative is willing to confirm that its housing inventory in New York City has decreased since the start of the new crown epidemic. Airbnb points out that several other factors may have contributed to the housing shortage. A spokesman for the company said in an email that in the past two years, airbnb's supply of the whole space list in the city has decreased, and now accounts for only a small part of the rental units in the city. All these are due to the rising trend of rental prices, and the development licenses of new units issued by the city are still declining in double digits. This number is manipulated to some extent.
The company has firmly denied that it played any role in the housing shortage, insisting that its services help people stay in expensive cities or they will have to leave. Its representative also noted that there were several factors that could make third-party data inaccurate, including multiple listings of the same property and listings that showed activity but few vacancies. For example, a townhouse that the owner rents only when traveling, which means that it is active throughout the year, but only for a few weeks a year. Airdna and inside airbnb have largely overestimated the number of apartments and residential listings on the website.