Staying in Venice:
Making Housing Affordable for Venetians by Leveraging Tourist Rentals
Feasibility Study of the Startup “Casa Peota”
Abstract
The goal of our project was to establish a balance between visitors and residents in Venice so that both can stay in Venice sustainably and affordably. The availability and cost of housing and short-term tourist rentals was assessed in order to develop a sustainable and equitable model for Venetians to buy their own home by leveraging income from short-term tourist rentals. Our study used information from Inside Airbnb to demonstrate that this model is feasible in Venice. Income from tourist rentals covers the gap between what a typical Venetian couple can afford and the cost of a typical mortgage. This model will provide the foundation for Casa Peota, a startup which will enable Venetians to repay loans for their down payment as well as their mortgage. We also developed the online prototype for Fairbnb, a new short-term rental platform, which combines the functionality of Airbnb with social contributions to the local community.
Per visualizzare la nostra presentazione in Italiano cliccate qui.
Mission statement: The goal of this project is to help establish a balance between visitors and residents in Venice so that they both can stay sustainably and affordably.
Project Objectives:
To assess the availability and cost of housing.
To investigate the availability and profitability of tourist accommodations in Venice.
To develop mechanism(s) that will make housing accessible and affordable.
Develop a mockup for an equitable and sustainable short term rental platform.