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Madrid Seeks to Sharply Curtail Short-Term Rentals
Madrid, Spain is considering a series of regulations that would make 95 percent of the tourist rentals in the city illegal. The regulations are each tailored to different parts of the city. "Different restrictions will be applied to four different zones of the city, with the most restrictive places on the Centro district that includes the areas of Malasaña, Chueca, Sol, La Latina and Lavapiés," Fiona Govan writes for the Local ES.
"The new regulations will prohibit tourist flats from being rented out more than 90 days a year," adds Govan. Officials hope these regulations slow the upward pressure Airbnb is putting on rents. Among the regulations Madrid is considering is one to keep tourist separate from renters. "Tourist flats in the Central zone will require a separate entrance to the street from permanent residents in the block, effectively ruling out all but a few ground floor properties," Govan reports.
Madrid is the latest Spanish city to push back on tourist rentals. Valencia, Palma, and Barcelona have both put in place policies to limit apartment rentals to tourists.