The European Commission is set to approve the Affordable Housing Act this Wednesday, aiming to alleviate housing shortages in major urban centers. The initiative provides local and national authorities with a legal framework to monitor and manage short-term rental services like Airbnb. While these rentals represent a small fraction of the total housing supply across the European Union, they significantly impact availability in high-demand tourist destinations, sometimes accounting for one-fifth of local residential properties. Energy and Housing Commissioner Dan Jørgensen clarified that while these platforms are not the primary cause of the ongoing housing crisis, they exacerbate existing pressures in specific regions. By establishing criteria to identify areas under housing stress, the new legislation empowers governments to implement targeted interventions to stabilize rental markets and improve housing affordability for residents.
Source : Politico Europe
