Airbnb removes 5,000 homes from housing market in Belgium's three largest cities
An estimated 5,000 homes in Brussels, Antwerp and Ghent have been withdrawn from the regular housing market because they are being rented out through Airbnb, according to a study by bank ING.
The figure represents around 0.8 per cent of the rental housing stock in the three cities that is unavailable for permanent residents due to short-term rentals.
"This share is likely even higher if we include other platforms such as Booking.com and Expedia," said Alissa Lefebre, economist at ING.
According to Lefebre, the findings show that short-term rentals contribute to pressure on the housing market but are not the main cause of housing shortages. Returning Airbnb properties to the long-term rental market would not, on its own, solve the problem.
Instead, ING argues that broader structural issues need to be addressed. "This primarily means that the housing supply must respond better to changing demand, among other things by encouraging and facilitating housing projects with smaller units," said Lefebre.
She also highlighted the importance of maintaining a stable investment climate and ensuring that new regulations on housing quality and energy performance do not unintentionally reduce the available housing supply.
#FlandersNewsService | The centre of Ghent © BELGA PHOTO JAMES ARTHUR GEKIERE
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