Madrid cracks down on short-term vacation rentals
Visitors to Madrid may find themselves with fewer booking options, following new proposals that will place sweeping restrictions on Airbnb-style home rentals.
The Spanish capital is the latest city to place regulations on the rise of short-term vacation rentals, which are blamed for driving up rents and driving out locals.
The new measures would place different restrictions across four different zones across the city and include moratoriums on the conversion of residential buildings into tourist housing in certain zones over the next year, reports The Local Spain.
Likewise, property owners will only be allowed to rent out their homes for a maximum of 90 days a year.
Madrid is the latest city to impose caps and regulations on short-term vacation rentals, which are blamed for driving up property values and housing shortages.
Paris, London and Amsterdam have also capped rental limits ranging from 30 to 120 days a year.
Berlin, meanwhile, bucks the trend, with officials lifting a previous rule that limited the number short-term rental days. Homeowners in Berlin can now rent out their primary home for an unlimited number of days.