Short - Term Rentals
Short-term rentals have become increasingly popular in recent years and can be considered as a new element in the collaborative economy aimed at helping people share their homes for profit. As a rapidly developing phenomenon, CEPI is focusing on the effects on the real estate sector, both positive and negative. The evolution of short-term rentals has influenced some of the more traditional aspects of the real estate market.
Airbnb is probably the best-known of several different accommodation-sharing platforms now operating in the real estate sector. Its evolution and related attempts to control it also raise interesting questions about the development and regulation of the collaborative economy. The fact that it tends to be most successfully operated in certain popular locations usually for tourism and related activities and can be highly profitable has meant that a large percentage of the accommodation available in such locations has been diverted to the short-term rental market, resulting in disruption and higher costs for local residents now increasingly priced out of these areas. At the end of 2022, the European Commission adopted a proposal for a Regulation on data collection and sharing relating to short-term accommodation rental services which aims to develop responsible, fair, and trusted growth in short-term rentals, as part of a well-balanced tourist ecosystem. In this context, the real estate market is adapting constantly and the work of CEPI in this direction is to support the real estate professionals and to show that the challenges and opportunities for them need to be understood at the European level.