Business

Paris city council tightens regulations on tourist rentals

December 16, 2021

PARIS (Reuters) – The Paris city council has voted to tighten regulations on converting commercial spaces into tourist rentals to limit the influence of home-sharing sites in the French capital.

It comes as officials in key tourist cities around the world have blamed home-sharing sites like Airbnb for exacerbating housing shortages as property owners prefer lucrative short-term rentals, pushing low-income people out.

In Paris, home to the largest number of Airbnb listings of any city worldwide, a large portion of local commerce disappeared in some parts of the capital as aboveground stores were transformed into accommodation for travelers booking on sites like Airbnb, Expedia and Booking.com, according to city officials.

Over the past six years, Paris has lost 59,000 square meters of commercial space to accommodate short-term stays while 900 businesses have disappeared within four years, the city said in a document outlining it. plans for new regulations.

When asked about the new rules, Airbnb said “the vast majority” of hosts in Paris are locals who rent out their homes for extra income and don’t expect the new rules to target ” professionals and investors” will “significantly impact our operations in the city”.

Last year, more than 95% of homes rented on the site were rented out under the 120-day limit, as required by local regulations, the website added.

Under the new rules, authorization to convert a commercial space into short-term accommodation will not be granted if it is deemed to disrupt the local balance of employment, housing and commerce. .

(Reporting by Mimosa Spencer; editing by David Evans)

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Bobby Allyn

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