The offensive on short-term rental of real estate in Europe continues. The Cyprus Real Estate Agents Registration Council has proposed to abandon the daily rental of housing.
More and more apartments and houses are being rented to tourists. According to the organization, this reduces the availability of long-term rental housing, as rental rates are rising due to a decrease in supply.
Supporters of this measure cited the example of cities such as Barcelona, New York, Athens, where similar restrictions have already been adopted.
The European Union has recognized short-term rental housing as a problem requiring regulation.
The Council suggests that the government introduce housing standards for rental and establish clear rules.
Source: Cyprus Property News
