In recent years, a noticeable surge in anti-tourism sentiment has emerged in popular destinations worldwide, including Barcelona and Maui. This growing discontent is driving a new wave of legislation targeting short-term vacation rentals, a trend that carries significant implications for the timeshare industry. As cities increasingly regulate platforms like Airbnb, both policymakers and stakeholders are considering the potential impacts on housing markets and the broader travel landscape.
Growing Regulatory Momentum
Around the globe, efforts to crack down on short-term rentals are gaining momentum. According to Daniel Guttentag, an associate professor at the College of Charleston and director of the school’s Office of Tourism Analysis, cities are becoming more adept at implementing and enforcing these regulations. “We are witnessing a snowball effect as more cities aggressively and effectively regulate short-term rentals,” Guttentag noted. This trend is evident in major tourism hubs such as Barcelona and Maui, where local governments are taking decisive steps to curb the proliferation of short-term rentals.
Barcelona has announced a significant initiative to address the issue. In June, Mayor Jaume Collboni committed to banning short-term apartment rentals in the city by the end of 2028. This policy aims to revoke more than 10,000 short-term rental licenses, effectively converting these properties into long-term housing. The move is part of a broader strategy to enhance housing affordability and availability, addressing concerns that short-term rentals exacerbate housing shortages and drive up rental prices.
Similarly, Maui is advancing plans to eliminate a substantial portion of the island’s short-term rentals. The Maui Planning Commission recently voted unanimously in favor of a proposal that could phase out over 7,000 of the island’s more than 13,600 short-term rentals. The proposed ordinance focuses on reducing short-term rentals in “apartment districts” across west and south Maui. If the Maui County Council approves the measure, it will take effect on July 1, 2025, for west Maui and January 1, 2026, for the remaining districts. Like Barcelona, Maui’s policymakers aim to transform short-term rental units into long-term housing, hoping to alleviate the local housing crisis.
The Role of Short-Term Rentals in Housing Markets
Experts in the field, such as Madeline List, a senior analyst with Phocuswright, argue that regulating short-term rentals offers a quicker way to increase housing supply compared to long-term housing projects. “It’s a more immediate solution than funding major projects that could take years to complete,” List explained. However, both List and Guttentag caution against viewing these regulations as a comprehensive solution to housing affordability challenges. While short-term rentals can contribute to rising housing costs, their overall impact is relatively modest. For instance, a study from New York found that only about 9% of the city’s rent increase could be attributed to Airbnb listings.
New York City has already taken significant steps to regulate short-term rentals, implementing stricter enforcement and mandatory host registration. However, the effectiveness of these measures remains debated. Jay Carney, Airbnb’s head of global policy and communications, criticized the city’s approach, stating that it has not achieved its intended goals of increasing long-term housing inventory or stabilizing prices. Despite these criticisms, experts like Guttentag foresee other destinations adopting similar regulations, although they acknowledge that such measures alone will not fully resolve complex housing issues.
Conclusion
As the regulatory landscape for short-term rentals evolves, the implications for the timeshare industry and broader travel sector are significant. While these measures may help ease housing costs and increase the availability of long-term rentals, they are not a panacea for the underlying challenges facing many urban housing markets. For stakeholders in the timeshare and vacation rental industries, staying informed about these trends is crucial as they navigate an increasingly complex regulatory environment.
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