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EU Affordable Housing Act threatens Italian short-term rentals
The European Commission’s proposed ‘Affordable Housing Act’ could lead to bans on short-term rentals in several Italian tourist destinations. According to a study by the Italian Association of Short-Term Rental Managers (Aigab), many locations exceed the proposed threshold for ‘housing stress,’ where local authorities may intervene if the average house price is eight times the average resident income.
In Cortina d’Ampezzo, the price-to-income ratio is reported at 38.31, while Amalfi stands at 21.55. Other affected areas could include Courmayeur, Monterosso, Taormina, and Polignano a Mare.
The Italian Federation of Real Estate Agents (Fiaip) has expressed concern regarding the regulation. Fiaip argues that restricting short-term rentals and second homes does not inherently increase housing supply and may infringe upon private property rights. The federation suggests that structural solutions should instead focus on reducing tax pressure, simplifying urban planning, and providing incentives to increase the private residential market supply.
Entities
Aigab · Amalfi · Cortina d’Ampezzo · European Commission · Fiaip
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] In Cortina d’Ampezzo, the price-to-income ratio is 38.31. www.vetrinatv.it · www.key4biz.it · www.trapanisi.it
- [○ 1 SOURCE] Limiting short-term rentals does not automatically create new housing supply. www.fiaip.it
- [● 3 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
- [● 3 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
- [○ 1 SOURCE] Fiaip suggests addressing tax pressure, contractual rigidity, and lack of incentives to increase private housing supply. www.fiaip.it