EU Affordable Housing Act threatens short-term rentals in tourist hubs

Affordable Housing Act short-term rentals housing crisis tourism regulation real estate market

The European Commission’s proposed Affordable Housing Act is sparking debate across Europe regarding its potential impact on private property and the tourism sector. The regulation aims to provide a legal framework for local authorities to intervene in areas experiencing high housing stress. A key metric for this intervention is a price-to-income ratio of eight or higher.

In Italy, a study by the association Aigab warns that many popular tourist destinations, including Cortina d’Ampezzo, Amalfi, and Courmayeur, as well as major cities like Rome, Milan, and Venice, significantly exceed this threshold. For instance, Cortina d’Ampezzo shows a ratio of 38.31. If implemented, these metrics could lead to restrictions on short-term rentals and sales to non-residents.

In response, the Italian Minister of Tourism, Gianmarco Mazzi, has convened a meeting with industry associations for September 16 to discuss the implications for the national tourism industry. While the EU seeks to increase long-term housing supply, industry groups like Fiaip and Abbac argue that limiting short-term rentals does not automatically increase housing stock and may unfairly penalize property owners and the broader tourism economy.

Entities

Aigab · Amalfi · Cortina d’Ampezzo · European Commission · Fiaip · Gianmarco Mazzi · Italy

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] In Cortina d’Ampezzo, the price-to-income ratio is 38.31. www.vetrinatv.it · www.key4biz.it · www.trapanisi.it · www.lamiafinanza.it
[○ 1 SOURCE] Limiting short-term rentals does not automatically create new housing supply. www.fiaip.it
[● 5 SOURCES] Local authorities may intervene if the average house purchase price is eight times or more the average resident income. www.vetrinatv.it · www.key4biz.it · www.trapanisi.it · www.anbba.it · www.lamiafinanza.it
[● 11 SOURCES] The European Commission proposed the Affordable Housing Act to establish a common legal framework for housing tension areas. www.vetrinatv.it · www.key4biz.it · www.trapanisi.it · holidaycoast.it · www.anbba.it · +6 more
[○ 1 SOURCE] Fiaip suggests addressing tax pressure, contractual rigidity, and lack of incentives to increase private housing supply. www.fiaip.it
[● 5 SOURCES] The Italian Ministry of Tourism has scheduled a meeting with industry associations for September 16 to discuss the Affordable Housing Act. holidaycoast.it · www.anbba.it · www.sorrentopress.it · www.gazzettadinapoli.it · www.positanonews.it
[● 4 SOURCES] The ratio between house values and declared incomes would exceed the threshold of 8 in several Italian tourist destinations. www.lamiafinanza.it · www.vetrinatv.it · www.key4biz.it · www.trapanisi.it