Madrid city council has approved a plan regulating holiday rentals within the historical centre that will probably shut down over 10,000 apartments currently used for short-term tourist stays such as Airbnb.
Regulations state that guests in holiday rentals, ie those let for more than 90 days per year, based in buildings with regular residential use, will not be able to use the same entrance or lifts as full-time residents. They must have their own access, meaning 95% of short-let apartments will remain unlicensed.
In some residents, tourists outnumber residents two-to-one. There are an estimated 15,000 or more properties operating as tourist accommodation in Madrid, with 10% of them are located in the historical centre.
When the city’s 22 inspectors examined almost 12,000 homes, 14.5% were being used as holiday rentals.