Anmelden

    Suche nach Personen

    plus im Publikationsserver
    plus bei BASE
    plus bei Google Scholar

    Daten exportieren

    		  

    Tourism, financialization, and real estate : the transformation of the holiday rental market

    Titelangaben

    Verfügbarkeit überprüfen

    Rainer, Gerhard ; Steiner, Christian:
    Tourism, financialization, and real estate : the transformation of the holiday rental market.
    In: Tourism geographies. (8. Juni 2025).
    ISSN 1461-6688

    Volltext

    Open Access
    [img]
    Vorschau
    		 Text (PDF)
    Verfügbar unter folgender Lizenz: Creative Commons: Attribution 4.0 International (CC BY 4.0) Creative Commons: Namensnennung (CC BY 4.0) .
    Download (3MB) | Vorschau
    Volltext Link zum Volltext (externe URL):
    https://doi.org/10.1080/14616688.2025.2511737

    Kurzfassung/Abstract

    From the perspective of an Alpine town with high tourism intensity, this paper adds to the literature on the political economy of short-term rentals (STRs). While holiday apartments are a relatively new phenomenon in cities, connected to the emergence of the platform economy, in many Alpine destinations, they have constituted an important segment of tourist accommodation for many decades. This is the situation in our case study town, Garmisch-Partenkirchen (Bavaria, Germany), where many holiday apartments have traditionally been part of detached houses. Drawing on qualitative fieldwork, the paper seeks to answer two questions: (1) How has the holiday rental market changed with the rise of digital platforms? (2) What socio-spatial consequences did the transformation of the holiday rental market have? We found that the profound restructuring of the STR market is primarily related to two interconnected reasons: (a) To the growth and professionalization of traditional STR management companies, and (b) to a growing number of external investors, particularly wealthy private individuals, who acquire holiday apartments as capital storage and financial investment. Due to the extremely high real estate prices, newly built apartments are almost exclusively offered on the STR market, which in turn causes rental and building prices to rise again. For policies in rural areas, it is of utmost importance to take those new platform-related (financialization) dynamics into account. While local property owners and non-local investors drive the restructuring of the holiday rental market, benefiting from escalating real estate prices and from the extraction of tourism rent, the non-property-owning population is priced out of Garmisch-Partenkirchen. The explosion in real estate prices has meant that it is almost impossible for tourism employees to find affordable housing, which, in turn, is becoming a burden for labor-intensive tourism businesses. This highly unequal socio-spatial development is becoming an ever-greater problem for the town.

    Forschungsprojekte

    Nachhaltige Tourismus- und Regionalentwicklung in Garmisch-Partenkirchen zwischen Tourismus, freizeitorientierter Migration und Immobilienmarkt

    Weitere Angaben

    Publikationsform:Artikel
    Schlagwörter:tourism; financialization; real estate; second home tourism; short term rentals; political economy
    Themenfelder:Nachhaltigkeit, Transformation
    Sprache des Eintrags:Englisch
    Institutionen der Universität:Mathematisch-Geographische Fakultät > Geographie > Arbeitsgruppe Humangeographie
    DOI / URN / ID:10.1080/14616688.2025.2511737
    Open Access: Freie Zugänglichkeit des Volltexts?:Ja
    Peer-Review-Journal:Ja
    Verlag:Routledge
    Die Zeitschrift ist nachgewiesen in:
    Titel an der KU entstanden:Ja
    KU.edoc-ID:35288
    Eingestellt am: 10. Jun 2025 14:14
    Letzte Änderung: 10. Jun 2025 14:14
    URL zu dieser Anzeige: https://edoc.ku.de/id/eprint/35288/
    AnalyticsGoogle Scholar