COVID’s impact on Airbnb Madrid

COVID — And Airbnb Thanks to Adam Nieścioruk for sharing their work on Unsplash.

In mid-March, quarantines and border closures began in Europe to deal with COVID. How has this quarantine affected Airbnb’s supply? The wired indicates that they are moving to long-term rental sites

Question 1: without tourism, What happened to tourist rentals?
Question two: Is the behaviour homogeneous or does any of the characteristics of the rentals take precedence?
you look at how the rentals behave in your area (neighbourhood) or your level (price) or according to the type of host

Have the rents of Airbnb Madrid been reduced?

Yes, comparing the March and April data from Airbnb inside for Madrid, 379 rentals have been lost from Airbnb Madrid during the quarantine and the average price has increased by 8.5 euros.
But.. have all the rentals fallen? What neighbourhoods have they fallen into? How has each host acted?

If we look at the data by type of rental we can see how the hotel rooms behave differently: The average price increases slightly in the case of hotel room rentals (+14 euros) and complete houses (+13 euros). But the number of rentals has only increased in the case of hotel rooms (+17). While there are 225 fewer full house rentals and 171 fewer private room rentals

Mean Price by Month and type of Rental

The changes have not been homogeneous throughout Madrid, there are neighbourhoods that have undergone greater changes than others

Changes by neigborhoods

Do similar neighborhoods behave because of their proximity or because of the price ranges or rental volumes in which they are located?

The graphics show us that the changes are not homogeneous. Therefore, it is relevant to classify by levels some of the characteristics of the rents to see the impact on price change.
It is interesting to analyse whether the neighbourhoods with the highest rental volume have behaved differently from the rest. Or if the neighborhoods with average prices in the high range behave differently

Explain ranges

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The price change is greater for rentals that are in high-priced neighbourhoods or higher rent levels.

The rents that are in neighborhoods with high price and volume of rentals are in the center. This concentration is much clearer in the case of rentals in neighbourhoods with higher rental volumes

Where are the rents according to your rental volume level

How does each type of host behave?

In Madrid , between April and March, there have been 12.716 different host and on average they have 1.7 rentals. 23% of the host have more than one rental and 5% have more than 4 rentals. Only 13 host have more than 50 rentals.

The average price if it differs according to the owner of the rental, if it is a host with many rents the average price is higher. On the other hand the prices did not change according to the type of host

Insights

• The changes are very light
• Rents have disappeared, mostly from whole houses.
• Prices have risen slightly but in neighborhoods with the lowest price level and number of rents
• The downtown neighborhoods have adjusted prices the most
• It’s the new hostels that have changed the price.

Thanks for reading! If you want to check out my analysis or perform a similar project with your own Medium data, head on over on my repo on Github: Covid AirbnbAnalysis