Madrid in Spain prohibits the granting of new licenses to tourist apartments, following its Catalan sister Barcelona, as the entire country fights the negative effects of over-tourism.
Effective immediately until 2025, the Spanish capital will stop issuing new licenses for apartments to rent to tourists, Mayor José Luis Martínez-Almeida said at a press conference this week. The idea is to gain a foothold in Madrid's accommodation offer, which is flooded with illegal holiday rentals which are influencing the new increase in rental prices in the city centre. Also, a decrease in the supply of apartments offered to locals.
According to official figures, the number of tourist rentals in Madrid has increased by 41% since 2017.
The city's website states that 13,500 vacation rentals exist in Madrid, and 93% of them are illegal.
As a result, the municipality is recruiting 15% more city planning inspectors and will issue heavy fines to those who do not comply with the regulations regarding vacation accommodation. The plan is that the fine for non-compliance with the conditions will be 1,000 to 30,000 euros. Repeat offenders may be fined up to €60,000. The sanctions, which can be imposed cumulatively, can reach 190 thousand euros.