PUSHBACK to the introduction of a short-term let licencing scheme in Scotland has garnered a lot of attention lately.
A report from Edinburgh Council found that the city could see an 80% drop in the number of short-term lets available when the rules come into force on October 1.
His research has involved looking into whether a rise in AirBnB listings in Barcelona resulted in an increase in rent and property prices.“That’s because it introduces a very attractive option to landlords. They were thinking ‘why should I let out my property for €800 a month when I can rent it to several tourists for €2000?’ “But that was resulting in property supply being taken away from the normal rental market and being listed as short-term rentals instead”.
However, Martinez stressed that it allowed the local government to assess which areas of the city were overpopulated with short-term lets and grant licences accordingly.For example, if an AirBnB in the city centre loses it licence, officials are able to decide whether or not to grant a new one in its place and therefore keep the number of short-term lets at a manageable level within specific areas.
“But with the explosion of AirBnB around a ten years ago, many cities have realised the adverse impact it can have on access to housing for locals. According to the Inside AirBnB project, which tracks data concerning AirBnB listings, nearly 50% of people listing on the site in Edinburgh did so with numerous properties.
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