🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Florence seeks to ban Airbnb rentals apartments from city centre - mayor

Published 06/01/2023, 11:54 AM
Updated 06/01/2023, 10:17 PM
© Reuters. FILE PHOTO: A view shows the Ponte Vecchio bridge and the Arno River in Florence October 16, 2014. The Ponte Vecchio, or Old Bridge, crosses the River Arno at its narrowest point. REUTERS/Regis Duvignau

By Federica Urso and Federico Maccioni

ROME (Reuters) -Florence wants to ban residential properties in its historic centre from being used for short-term rentals by platforms such as Airbnb in order to free up more homes for local people in the Tuscan city.

Dario Nardella, the mayor of one of Italy's most popular tourist destinations, said his city would pursue new rules at a local level because he regarded draft nationwide plans to regulate the sector as disappointing.

Under Nardella's proposal, dubbed "save historic centres", the mayor plans to block new short-term rental contracts and offer tax breaks to encourage more permanent forms of residence.

Nardella is a member of the centre-left Democratic Party (PD), which is part of the opposition at national level.

As in other European countries, a mixture of low salaries, a property shortage, short-term holiday rentals and high inflation have driven a housing crisis, with low-wage earners and students hit hard in Italy.

The central government is working on a bill, which according to Italian media reports, would require each residential property rented to tourists to have a national identification code to help track and regulate lettings. Those failing to comply would risk a penalty of up to 5,000 euros ($5,500).

Additionally, authorities in the most visited cities would have the right to impose a minimum stay of two nights in the context of short rentals in their city centres.

Airbnb did not immediately comment on Nardella's initiative, but said in a statement that it wanted to see "clear and simple national rules" in Italy.

© Reuters. FILE PHOTO: A view shows the Ponte Vecchio bridge and the Arno River in Florence October 16, 2014. The Ponte Vecchio, or Old Bridge, crosses the River Arno at its narrowest point. REUTERS/Regis Duvignau

"We are concerned that proposals regarding one-night stays breach EU and national laws, and we look forward to working with the government to discuss alternative ways forward," it said.

($1 = 0.9084 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.