France New Law Severely Restricts Airbnb

- Thursday, 30/05/2024, 10:23

The upcoming legislation, set to be officially approved in early June and implemented at the start of the upcoming academic year, grants mayors the authority to restrict Airbnb or similar rentals to a maximum of 120 days per year (equivalent to four months).

France New Law Severely Restricts Airbnb
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Source: eturbonews.com

France is apparently continuing to wage its battle against Airbnb. In 2023, Emmanuel Macron’s government introduced a set of 14 regulations aimed at decreasing the prevalence of short-term tourist rentals in city centers.

Recently, the French Senate passed a strict law to close a tax loophole that was benefiting Airbnb-style vacation rentals. The existing tax deduction, currently at 70%, will be adjusted to 30% instead of 50%.

Nevertheless, a 50% deduction will remain for classified furnished accommodations, acknowledging their significance for high-quality tourism.

The upcoming legislation, set to be officially approved in early June and implemented at the start of the upcoming academic year, grants mayors the authority to restrict Airbnb or similar rentals to a maximum of 120 days per year (equivalent to four months).

Additionally, vacation homes must meet energy classification D standards within a decade.

Minister of Housing, Guillaume Kasbarian, voiced his support for the bill, emphasizing the importance of ensuring that locals have access to housing in popular tourist destinations. Echaniz stressed the critical nature of the issue, noting the significant increase in furnished tourist accommodations in France from 300,000 in 2016 to over a million presently, which has posed challenges for permanent residents seeking housing.

Airbnb seems to support the new legislation, as stated by Clément Eulry, the general manager of Airbnb for France and Belgium, during an interview with France Info. Eulry acknowledges the importance of striking a balance in the market and safeguarding the purchasing power of the French. However, Eulry disagrees with the reduction of the maximum number of days for renting homes.

Additionally, the new law includes a provision for the implementation of a registration number for all tourist rentals. This measure aims to enhance control and oversight by the Municipalities, ensuring stricter regulations.

Furthermore, the opposition against Airbnb has extended to New York, where a law has been enacted to curb its expansion.

eturbonews.com