The vacation rental market is shouldering part of the blame for rising housing costs, particularly in popular tourist destinations.
In another attempt to bring down housing costs by limiting the short-term rental market, the French Parliament voted to tighten regulations on Airbnb and similar vacation rental companies, report Arnaud Bouvier and Severine Rouby in Fortune. “The legislation, which has been in the works since April 2023, aims to slash tax breaks for tourist properties in a bid to curb short-term rentals amid shortages of affordable housing.”
According to the article, the number of furnished short-term rentals in the country shot up from 300,000 to 1.2 million in eight years, while housing costs have gone up.
Under the new law, “The tax allowance for furnished tourist accommodation would fall to 50 percent from 71 percent, with a cap lowered to 77,700 euros (83,500 dollars).” Local jurisdictions will also be allowed to reduce the rental duration from 120 days per year to 90 days per year and set quotas for furnished accommodations.
FULL STORY: France approves anti-Airbnb bill to crack down on the ‘explosive increase’ in tourist rentals
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Spain Moves to Regulate Short-Term Rentals
Calls for regulation at the national level have prompted lawmakers to consider limiting tourist rentals amidst a growing housing crisis.
How Much Are Short-Term Rentals to Blame for the Housing Crisis?
Whether and how deeply Airbnb and other short-term rentals affect housing costs depends largely on local conditions and economies.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Paris Voters Approve More Car-Free Streets
Paris Mayor Anne Hidalgo says the city will develop a plan to close 500 streets to car traffic and add new bike and pedestrian infrastructure after a referendum on the proposal passed with 66 percent of the vote.
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