With the development of Internet technologies, P2P sharing economy models have emerged. This study aims to reveal the socio-economic effects of Airbnb, one of the P2P sharing economy housing platforms. In this study, the Airbnb concept was investigated first by the literature review. The volume of Airbnb in Istanbul was analyzed by accessing the Airbnb website. Besiktas district, which is one of the most used areas of Airbnb, was selected for the case study. For the case study, three groups of actors were identified: (1) the hosts, (2) the guests and (3) the neighbors. Semi-structured in-depth interviews were conducted with a sample (n=40) of these actors. According to the results of the field study, the hosts derive economic benefits, and also they enjoy the time spent with guests from different cultural backgrounds. The guests benefit from affordable and unique accommodation options where they feel more like a local. Some of the neighbors are in the opinion that Airbnb poses security threats for the fact that they do not know the people who rent these short-term accommodations. On the other hand some of the neighbors are pleased that Airbnb reinvigorates the economy in the neighborhoods. With this study, codes such as economic benefit, cross-cultural sharing, socialization, noise, robbery, racism, thrust, hygiene, security threat etc. developed within the context of the relationship of actors are generated in relation to Airbnb’s impact on dynamics of neighborhoods.