Real estate market under the influence of tourism

Tourism has a significant impact on the economic development of cities, but its increasing intensity contributes to rising property prices and rents, which increases pressure on housing affordability. This phenomenon is particularly pronounced in tourist-exposed European capitals. The aim of this paper was to assess the impact of tourism on the real estate market in selected European cities between 2014 and 2023. The specific focus is on the evolution of rental and property prices (measured in price per m²) and the link between tourism intensity and housing affordability. Correlation and regression methods, content analysis and wavelet analysis were used, applied to both total and adjusted data. The results showed a strong effect of tourism on price increases in cities such as Prague, Barcelona and Venice, while Berlin and London showed a weaker link due to stricter regulations. Effective measures, particularly in Barcelona, have been able to partially mitigate the impact, but challenges remain in housing affordability. The main limitations of the research were the lack of inflation adjustment of the data and the restriction to linear relationships. The paper provides valuable insights for urban policy making and the promotion of sustainable development.