The Real Estate Agents Registration Council has proposed ending daily accommodation rentals to protect consumers and the property market, maintain tourism standards, and uphold the country’s international image.
On Tuesday, the Council participated in a House Committee meeting on Energy, Trade, Industry, and Tourism. It presented its views and concerns regarding short-term property rentals.
The Council stated that increasing short-term rentals reduces the availability of long-term rental properties. Combined with high interest rates and inflation, this puts upward pressure on rental and property prices.
It cited examples of cities such as Barcelona, New York, and Athens, where short-term rentals have been fully or partially banned. These measures aim to protect the housing market and prevent unfair competition.
The European Union has recognised short-term rentals as a problem requiring regulation. A new EU policy seeks to increase transparency and data collection to develop suitable legislative measures.
The Council highlighted the lack of regulations in this sector. Many properties fail to meet safety and quality standards, exposing consumers to financial risks and exploitation by unregulated estate agents.
It also stressed the government’s responsibility to introduce legal and regulatory frameworks. These would set clear property standards for safety and suitability while ensuring fair competition within the market.
A key concern is the discrepancy between registered accommodations and those advertised online. Monitoring short-term rentals is difficult, leading to the creation of a register to legalise unregulated properties.
The Council warned that the current situation damages the country’s reputation in tourism. It also creates unfair disadvantages for licensed accommodation providers who follow government rules and regulations.
