France is close to introducing a law that severely restricts the economic benefits of renting out private homes through companies like Airbnb.
On Thursday, the parliament voted with a large margin in favor of the proposal, which the senate had already unanimously approved.
France is one of Airbnb's largest markets, but the rental practice makes it difficult, especially for young people, to get a decent home since many earn so well from renting out their apartments through sites and services like Airbnb.
Inaki Echaniz, a member of the Socialist Party, says that the rental practice – which has gone from 300,000 to 1.2 million homes in eight years – constitutes a housing crisis that the country must address.
The proposed law does not ban rentals, but makes them less economically advantageous by significantly reducing tax benefits for landlords.
Furthermore, municipalities will have the right to reduce the number of days private individuals can rent out their registered residence, and set minimum rental prices for furnished tourist accommodations.
