City of Madrid passed a law that obliges any housing unit that is rented to tourists for more than 90 days a year to have a private entrance, including a separate elevator or staircase. The new regulation may make about 95% of the current listings on Airbnb illegal. The city council of Madrid announced that rising rents (around 7.2%) and low long-term rental accommodation were the main reasons to pass the new regulation. The regulation is aimed to preserve the residential use of the city centre which is called the Almendra Central by locals. Madrid is one of a growing number of cities restricting short-term rentals. In Amsterdam, properties are only allowed to be rented through Airbnb and other rental platforms 30 nights per year. Paris, Barcelona, and New York also limited the number of nights that private properties can be rented short-term.
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