UK tourists have been warned over a ban on tourist flats being imposed. Restrictions on tourist flat rentals and concerns over squatting or rent defaults could result in hundreds or thousands of tourist flats being put up for sale.
The new regulations aim to curb the expansion of Tourism Use Housing (VUT) and reduce its negative impact. In 2024, more than 350,000 tourist flats are anticipated, with notable growth in regions like Andalusia, Catalonia and the Balearic Islands.
In areas such as Santa Cruz, Seville and central Madrid, “touristification” has led to a high concentration of VUTs, surpassing 60% of the residential stock in some cases. The mayor of Madrid, José Luis Martínez-Almeida, is believed to have advanced the government’s new ordinance to strongly regulate these accommodations in the city.
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Almeida said: “The prohibition will be approved within two weeks” with the action helping to “generate more housing in the centre of Madrid”. The mayor previously announced that no authorisation would be given to properties converted from commercial to residential tourist lets in the centre of the city
This new plan will also look to “definitively regulate” VUTs, with two other important measures being brought in that have not been specified until now. The City Council has ramped up sanctions on landlords operating illegal tourist flats, with fines reaching up to €400,000 for the most severe violations.
Almeida announced this new regulation which will be named the “Special Protection Plan for the Residential Area”. He further explained that these new plans would change “the transformation of private-use institutional buildings into residential buildings in central Madrid, provided they are intended for affordable housing.”
Prohibition “on main commercial axes” will also apply, announced the mayor. He explained how these changes will greatly affect “the transformation of commercial premises into tourist housing to preserve the identity of neighborhoods and preserve small and medium-sized businesses.”
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