Airbnb claims it has "no meaningful impact" on the BC housing crisis
On Thursday, the regulations BC proposed to curb the short-term rental market passed, and Airbnb has responded, defending itself with a stern statement.
In its statement, Airbnb attempts to distance itself from the allegations that prompted the regulations, like that the short-term rental market is hurting the long-term market and the BC housing crisis at large.
It cites a Conference Board of Canada report that suggests short-term rentals have “no meaningful impact on the housing crisis.”
“Short-term rental regulations have not alleviated housing concerns in Canadian cities.”
On Thursday, BC Minister of Housing Ravi Kahlon took to X to announce that regulations had passed. BC Premier David Eby also chimed in.
Homes are for people, not for investors who keep them out of reach for their own profit. Thousands of short-term rentals will be turned into long-term housing for people in BC. https://t.co/DSo9ys0LHr
— David Eby (@Dave_Eby) October 26, 2023
A statement from Airbnb Canada Policy Manager Alex Howell suggests the regulations won’t change a thing.
“The BC government’s legislation will not alleviate the province’s housing concerns, instead it will make travel more unaffordable for millions of residents who travel within BC, reduce tourism spending in communities where Airbnb hosts are often the only providers of local accommodations and take money out of the pockets of British Columbians during an affordability crisis.”
Airbnb has also offered up some stats on its impact on the BC market.
For hosts:
- Airbnb listings in BC represent less than 1% of the overall number of dwellings in the province, and if every short-term rental were put back on the market, it wouldn’t scratch the surface of the number of houses needed.
- The majority of hosts in BC – approximately 83% – share just one home
- According to its survey of BC hosts:
- Approximately 59% of hosts in BC say they host to help cover rising costs of living.
- Approximately 47% of hosts in BC say that hosting helps them stay in their homes.
Airbnb also made some claims about tourism, suggesting that guests visiting BC spend nearly $225 per day. Additionally, Airbnb states that 43% of BC guests would not have seen the neighbourhood of their listing if it wasn’t for the platform.
It also cites another revelation from the Conference Board of Canada report, which suggests that Airbnb activity, “at its current levels, has not resulted in an economically meaningful increase in rents across 19 of the largest Canadian cities.”
Airbnb instead points the blame at supply, “not restricting short-term rentals.”
What are your thoughts on Airbnb’s response to the BC regulations?
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