Seasonality of short-term rentals case study from AIRBNB in İstanbul

Abstract

The short-term rental market has multiplied over the last decade. Airbnb (and other online accommodation sharing platforms, which provide an online market that links people with each other as host and guest system) is attracting much interest, as it has implications for the real estate market worldwide. The impacts vary across the globe depending on the context. As Airbnb comes at the forefront of short-term rental platforms in this market in Istanbul, Turkey, with the biggest share, attracting many researchers trying to answer the generated and raised questions. The Airbnb platform is connected to several markets like the sharing economy, hospitality, and housing. the researchers in every branch trying to study the effects of Airbnb in each market. However, the literature is still limited but for the past four years, it witnessed development as Airbnb grew and expanded its platforms to include the hotels as well. Airbnb is well- known it started working in Istanbul in 2010 according to Yuksel (2019) and most resources. However, the dataset recorded one review in June 2009 in the Uskudar district in the Anatolian side of Istanbul. Nevertheless, Airbnb flourished and expanded more in 2010, also more reviews were recorded starting from March 2010. Since then, the number of listings is rising reaching 24,519 listings and over 194,000 reviews have been written by guests in the most recent collected dataset (February 2021).