Airbnb set to face more curbs as EU proposes rules to tackle housing crunch
ABNB•EU proposes common framework for housing measures
Airbnb ABNB.O and other short-term home rental companies are set to face more restrictions as the European Commission on Wednesday proposed rules to help authorities tackle a housing crunch in tourism hotspots.
The move by the EU executive aims to harmonise rules across Europe after authorities in cities including Paris, Barcelona and Venice turned to a raft of diverse rules to crack down on Airbnb, which subsequently triggered legal challenges.
The shortage of affordable housing due to the surge in short-term holiday rentals has prompted residents, especially young Europeans, to take to the streets to protest.
"A year ago, I promised to tackle Europe's housing affordability," Commission President Ursula von der Leyen said in a statement.
"Today, we are taking one step in this direction. By providing more clarity and support to local authorities and communities, anchored in local realities," she said.
