ESSAYS ON TECHNOLOGICAL DISRUPTIONS IN REAL ESTATE MARKETS

The real estate market is one of the most significant sectors in the global economy, influencing wealth accumulation, economic stability, and urban development, while the residential real estate, or the housing market accounts for nearly 80\% of total real estate value, making it a focal point for investment and policy interventions. The rapid advancement of digital technologies has introduced profound transformations in how housing markets operate, reshaping investment strategies, regulatory frameworks, and consumer behaviors. Despite these changes, there remains a limited understanding of how digital transformation affects the housing market's fundamental dynamics. This dissertation examines the evolving role of technology in shaping housing markets through three key dimensions: the impact of short-term rental (STR) platforms on real estate investment, the implications of data-sharing policies between digital platforms and governments, and the influence of demographic shifts driven by technological advancements on housing preferences. The first study investigates the effect of Airbnb's policy restricting short-term rental listings, revealing a decline in overall real estate investment activity, particularly among individual and local investors. The second study explores the consequences of Airbnb's City Portal policy, which grants local governments access to platform data, leading to reduced listing supply due to increased regulatory compliance and host privacy concerns. The third study examines the growing prevalence of single-person households and their housing choices, demonstrating that singles exhibit distinct expenditure patterns influenced by technological and social changes. By integrating these perspectives, this dissertation provides a comprehensive analysis of how digital platforms and technological advancements are reshaping the housing market. The findings offer valuable insights for investors, policymakers, and urban planners, highlighting the need for adaptive regulatory frameworks and innovative strategies to balance market efficiency, housing affordability, and economic growth in an increasingly digitalized real estate landscape.