Government targets non-compliant tourist apartments with huge fines, threatening Rental Market Stability

The Government has estimated that up to 90% of tourist apartments are not complying with the regulations. So they are after them with huge fines of 100,000€ or more. It’s easy money for the authorities as the ‘criminal owners’ must advertise to obtain tenants. The marketing, advertising and managing businesses assisting and accepting the ads are helping ‘criminals’ so they are obliged to disclose who the advertisers are, and will also be fined.

Great timing for the millions coming off the planes only to find that the property has been locked up and everyone linked to it has gone out of business.

The golden goose is going to be killed, but it’s being ‘alive’ is part of what’s caused the shortage of long-term accommodation for residents. The other part is the Government’s misguided dogma biased much too strongly in favour of tenants and squatters, which has removed a substantial % of the rental supply.