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Investing.com -- Spain has instructed Airbnb to remove over 65,000 holiday rental listings from its platform, which the government claims violate existing regulations. This move is part of a broader crackdown on businesses that are being accused of exacerbating the country’s housing crisis.
The Consumer Rights Ministry announced on Monday that the majority of Airbnb listings due to be removed did not display their license number. Additionally, several listings did not clarify whether the property owner was an individual or a corporation.
Pablo Bustinduy, the Consumer Rights Minister, stated that the objective of these actions is to put an end to the widespread "lack of control" and "illegality" within the holiday rental sector. He expressed his commitment to stop protecting those who exploit the right to housing for business purposes in Spain.
Bustinduy also confirmed that Madrid’s high court supports the request to remove approximately 5,800 listings. He further explained that the properties associated with these advertisements had previously been homes for families, students, and workers who have been displaced from their neighborhoods.
Bustinduy criticized the transformation of cities into "theme parks" solely for the profit of a handful of investment funds and large corporations.
Airbnb has announced its intention to appeal against this decision. The company’s stock is currently trading nearly 1% down on the news.
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