Can Restricting Property Use Be Value Enhancing? Evidence from Short-Term Rental Regulation
利用佛罗里达州安娜玛丽亚岛的数据和政策实验，研究了短租监管对房产销售价格的影响，发现监管降低了非居民所有权比例，但仅在非居民房产密度高的区域才提升房产价值。
Short-term rentals, private residences where tourists stay, have become ubiquitous over the past decade. Many communities are divided over the trade-offs between a property owner’s rights and nuisance problems created by transient populations in residential neighborhoods. This paper empirically examines the effects of regulation restricting short-term rentals on property sales prices, using a unique data set and policy experiment from Anna Maria Island, Florida. We show that nonresident ownership of properties on the island decreased following the rental regulation and that the regulation decreased property values except in areas where the density of non-resident-owned properties in a neighborhood was quite high.