Florence takes action against Airbnb and short-term rentals amidst housing crisis

Florence, a renowned tourist destination in Italy, has taken steps to restrict new short-term rentals on platforms like Airbnb within its historic centre. This move, recently approved by the city, aims to make more housing available for local residents. Additionally, landlords who currently offer short-term rentals are being offered a three-year tax incentive if they transition to long-term leases.
The decision was made by Florence’s mayor, Dario Nardella, due to the dissatisfaction with government efforts to regulate the short-term rental sector. Nardella highlighted the significant increase in Airbnb listings from about 6,000 in 2016 to nearly 14,378, leading to a 42% rise in standard monthly residential rents during that period.
This year, there has been a 15.1% price increase, stated Nardella. He further mentioned that the 40,000 residents of Florence’s city centre are expressing concerns about suddenly finding themselves living in what feel like apartment-hotels.
Italy is currently grappling with a housing crisis exacerbated by low incomes, housing shortages, short-term holiday rentals, and high inflation, with low-income earners and students being particularly affected. Marco Stella, the regional coordinator of the Forza Italia party, a part of the right-wing ruling coalition, announced plans to appeal to the administrative court regarding Florence’s situation. Lorenzo Fagnoni, who leads Property Managers Italia, an organization representing vacation rental entrepreneurs, expressed that these regulations are an entirely misguided decision that contradicts the principles of a free-market economy.
At the national level, the central government is in the process of drafting legislation that, as reported by the media, may require a minimum stay of two nights in properties located in historic city centres and areas with a high tourist influx. Moreover, every residential property rented to tourists would be mandated to have a national identification code for better monitoring and regulation. Those who fail to adhere to these requirements could face penalties of up to €5,000 (£4,340).

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Florence takes action against Airbnb and short-term rentals amidst housing crisis

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