The Spanish government’s new restrictions on short-term rentals will have a dramatic impact on the Spanish economy and employment.
According to a study by Oxford Economics, cited by Airbnb, the restrictions will put 400,000 jobs at risk, along with a loss of €30 billion in income.
The new restrictions, which will be fully implemented from 1 July, include
– Property owners who wish to rent out their home on a short-term basis will be required to register (from 2 January) on a national database, i.e. a register. This will give them a licence number, which will be registered on online booking platforms.
– Accommodation providers will be required to collect sensitive personal information from their guests, including bank details and personal identity information.
– An increase in VAT to 10%, as applied to hotels, is being implemented for those with three or more short-term rental apartments.
These measures will take full effect from 1 July. After that date, property owners risk fines of up to €600,000 for non-compliance.
In addition, Prime Minister Pedro Sanchez recently announced measures to alleviate the housing problem in Spain. One of the most important measures is the imposition of a tax of up to 100% of the value on non-EU residents who buy a home in Spain. Given that the British and Americans are among the biggest buyers of homes in Spain, this measure is likely to reduce sales of homes to non-EU residents.
Impact on rural communities and small businesses
The Oxford Economics report found that in 2023, 141 million nights will be spent in short-term rental accommodation in Spain.
Hosts earned €5.4 billion, but more broadly, visitors to Spain left €29.6 billion in the local economy through spending in shops, restaurants and local businesses.
“Excessive restrictions on short-term rentals will not only be detrimental to hosts, but also to rural development and commercial activity in small local businesses,” Airbnb points out. “They will also harm family tourism, which is simply looking for affordable accommodation in uncrowded areas, damaging Spain’s competitiveness as a family destination.”
Eurostat data shows a trend towards rural and less visited locations for short-term rentals. In 2023, 33.6% of overnight stays were in rural areas, up from 31% in 2018, representing an increase of 17.6 million visitor nights.
Last year, around 150 small Spanish towns and municipalities welcomed their first tourists. Airbnb now has short-term rental properties in more than 5,000 rural and non-urban locations across the country.
Airbnb says that 70% of its bookings are for properties in rural or urban areas that attract low numbers of tourists.
“Airbnb’s role in promoting these rural experiences increases the attractiveness of these destinations, empowers local communities and promotes sustainable tourism practices,” the Oxford Economics study highlights.
“By staying in a holiday home, these travellers discovered new neighbourhoods and landscapes,” said Juliette Langlais, Director of Public Affairs EMEA at Airbnb. “By steering tourists away from crowded urban destinations where hotel guests are concentrated, short-term rentals have spread the benefits of tourism to local families and businesses in countless rural destinations.”
Rental platform HomeToGo told Euronews Travel that in 2024, 87% of its accommodation searches in Spain were for rural destinations.
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