Paris clamps down on Airbnb to ease housing crunch
Paris Battles Housing Shortage with Stringent New Regulations
Paris is taking a firm stance to combat its crippling housing shortage by introducing tough new rules on short-term holiday rentals. The regulations aim to curb the dominance of services like Airbnb and ensure locals have access to affordable housing.
New Rules for Paris Residents
From January 1, Parisians will no longer be allowed to rent out their primary residences for more than 90 days a year. This marked reduction from 120 days aims to encourage long-term rentals and combat the alarming rise in “Airbnb entrepreneurs” snatching up properties.
Fines for Flouters
For those breaking the rules, the penalty will be severe. The fine for illegally changing a property’s designated use doubles to €100,000, while those caught running fraudulent rentals face a penalty of €20,000. Platforms like Airbnb that fail to block violating users or concierge services that knowingly facilitate illegal rentals will also face fines.
Airbnb Pushes Back
Airbnb has slammed the measures, calling them a “diversion” from addressing the root causes of France’s housing crisis. 🤔 According to Airbnb, similar strict regulations have failed to boost the long-term rental market in other cities, like New York.
The Scale of the Issue
Paris estimates that an astonishing 25,000 apartments are currently being illegally rented out short-term, generating a whopping €1 billion in annual revenue. 🤑 With the shortage showing no signs of alleviating, authorities are optimistic that these new regulations will bring about positive change.
Housing Advocates Cheer On
Jacques Baudrier, Paris’s Deputy Mayor for Housing, celebrated the regulations as a “historic win” after more than a decade of calls for stricter controls. Housing advocates agree that these new measures will bring much-needed relief to Paris’s resident population.